The Phillips Law Offices , LLC

09/07/2026

08/31/2026

💳 **Making the minimum payment every month can create the illusion that your credit card debt is under control.**

In reality, with many credit cards charging interest rates above 20%, you can make payments month after month and still see very little change in the balance.

As Maryland bankruptcy attorneys, we regularly speak with people who have been doing everything they can to keep up. They are making payments, avoiding missed due dates, and trying to stay current. But high interest keeps eating away at most of the money they send in.

That is when it becomes important to look beyond the minimum payment and ask a different question:

**Is this debt realistically going to be paid off, or am I just maintaining it?**

If you are depending on credit cards for everyday expenses, transferring balances just to create breathing room, taking cash advances, or watching your total debt stay the same despite regular payments, the current strategy may not be sustainable.

For some Maryland consumers, a structured payoff plan may still be the best answer. For others, Chapter 7, Chapter 13, or another debt-relief strategy may deserve a closer look.

There is no benefit in spending years making payments that barely reduce the principal if there may be a better path forward.

The first step is simply understanding what you owe, what you can realistically afford, and what options are available under Maryland bankruptcy law.

08/22/2026

What does it mean to reaffirm a car loan?

08/13/2026

If you owe the IRS and can’t afford to pay the balance in full, that doesn’t necessarily mean you’re out of options.

Depending on your situation, you may be able to set up a payment plan, temporarily stop collection activity, settle the debt for less through an Offer in Compromise, or in some cases deal with older tax debt through bankruptcy.

The important thing is understanding which option actually fits your financial situation before agreeing to a payment you can’t afford or simply hoping the problem goes away.

In this article, the Phillips law offices breaks down the real options available when you owe the IRS and don’t have the money to pay everything at once.

Read it here:

Owe the IRS and can't pay in full? Learn your options: Offer in Compromise, hardship status, income-based plans, and even bankruptcy relief.

07/12/2026

Chapter 13 bankruptcy is one of the best tools to stop a foreclosure and give homeowners the time and opportunity to save their home by catching up on missed payments over a period of 3 - 5 years. Contact the Phillips Law Offices today to learn if you qualify.

05/09/2026

Bankruptcy can feel overwhelming, but the process is more manageable when you understand the steps.

From evaluating your options, gathering documents, filing your petition, attending the 341 meeting, and moving toward discharge, bankruptcy is designed to help people get relief and rebuild.

At Phillips Law Offices, we help Maryland residents understand whether Chapter 7 or Chapter 13 bankruptcy may be the right path forward.

Debt problems do not have to define your future. A fresh start may be possible.

Contact Phillips Law Offices to schedule a consultation and learn more about your options.