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What's Up Magazine

Russack Associates, LLC

Feb 06, 2012 10:40PM ● By Anonymous

Russack Law attorneys and professional staff work each day to ensure that every American who needs help, gets the financial fresh start they are entitled to under Law. Our laws and the Federal Bankruptcy Code grant us all the Right to live without endless calls from creditors.

Dedication to our Client Goals is what has grown RussackLaw into the Largest Bankruptcy firm on the Eastern Shore, and with our Offices in Annapolis and Easton, into one of the Ten Largest Bankruptcy firms in Maryland.

It is not a myth; you CAN push back against the Banks and the Credit Card companies and regain your good standing and good credit. You can regain control of your finances and your life. RussackLaw attorneys and dedicated professional staff will guide you to a financial fresh start, good credit, and a new financial life. We will meet with you to understand and analyze your situation and, in accordance with Your Goals, offer solutions and recommendations to resolve your particular problems utilizing the best options available whether negotiated solutions, workouts, or through the bankruptcy processes.

RussackLaw is committed to giving each client the highest level of legal service for their personal, family, or small to mid-sized business problem. We have helped Maryland business owners negotiate successful financial workouts and additional time and terms, allowing their businesses to return to solvent operations, often with relief from millions of dollars in bank and creditor debt. Our Business clients have saved their companies, saved their personal finances, and regained control of their lives, using our help. Our personal clients have gotten their peace of mind back, stayed in their homes, and can now sleep at night knowing their future is stable. You can too.

Tate Russack, a decorated military officer and helicopter test pilot chose law to continue to help people in the good fight. Tate has helped hundreds of individuals and businesses in Maryland successfully restructure over $200,000,000 dollars in financial obligations. In addition to his client work, Tate donates pro bono legal services to medically retired and wounded veterans seeking compensation for line of duty-disabilities and injuries.

In addition to bankruptcy work, Cami Russack, at RussackLaw, also assists small to medium-size Maryland businesses on law, company formation, contracts, and leases, all the way to complicated negotiations, insolvency proceedings, and bankruptcies.

Russack Law, helping Individuals, Families and Maryland Businesses fight the good fight.

Q: What debt will be discharged in a chapter 7 bankruptcy, and what happens to my house and car?

A: A bankruptcy filed under chapter 7 of the US Bankruptcy code will discharge every debt you have a legal obligation to pay, except domestic support obligations, student loans, and tax debts that have been incurred in the last three filing years. Your home mortgage and your car loan will also be discharged. The difference with these debts is that the lender or bank has a lien on your home or car, which was authorized by you as collateral to ensure the repayment of the debt. Under the bankruptcy code you can elect to keep either the home or car or both. This election is memorialized in what the bankruptcy code refers to as a reaffirmation agreement. By entering into one of these agreements, you are treating the debt as if you never filed bankruptcy as to that debt and, therefore, it follows that you will keep the home or car you reaffirm.- Tate M. Russack

Russack Asociates, LLC
8737 Brooks Drive, Suite 107, Easton, Maryland 21601
410-505-4150 • •