J.Michael Broumas has over 35 years experience in all aspects of consumer and business bankruptcy. Mr. Broumas started his career clerking for bankruptcy judge Thomas James in Chicago. He worked at a Wall Street Law firm and has been in his own practice since 1998.
At Broumas Law Group we undestand clients are under tremendous stress dealing with financial hardship. We can help relieve that stress and help to get a fresh start.
Practice areas
Chapter 7 Bankruptcy allows a debtor to discharge most debts. The process takes about 4 months to complete but you get relief immediately once the case is filed. Creditors are required to stop all collection efforts, all lawsuits, garnishments and even temporarily a foreclosure. Usually you get to keep most of your things including cars and houses ( depending on the amount of equity). Once the case is done your credit score tends to recover and over time improve.
41 years, 3,000 cases
Chapter 13 Bankruptcy is a 36 to 60 month partial payment plan. The Plan is income based and allows the Debtor to use the payment plan to catch up back payments on a mortgage. Chapter 13 also in some cases lets you cram down or lower the amount of the debt on a car or strip off a second mortgage. Because the plan is income based at the end of the plan the remaining unpaid unsecured loans and credit cards are discharged. Let our Maryland Bankruptcy Lawyer restructure your debt.
41 years, 1,000 cases
Chapter 11 is a business reorganization. It is much more complicated than a restructuring under Chapter 13 . It is usually used to restructure business entities (corporations, LLC or partnerships.) Chapter 11 can be used for an individual but because of the cost it is normally not practical. Chapter 11 does not have a set term. A plan can provide a payoff of debt over many years. It also does not have a debt limitation as does Chapter 13.
41 years, 100 cases
Languages spoken
French, German, Spanish, English
Broumas Law Group LLC
8370 Court Avenue
Suite 203
Ellicott, MD, 21043
PG County Office
4600 Powder Mill Rd
Ste. 450
Beltsville, MD, 20705
State | Status | Acquired | Updated |
---|---|---|---|
MD | Active | 1993 | 03/30/2022 |
TX | Not Eligible to Practice - Administrative | 1989 | 02/17/2022 |
IL | Administrative - Not Authorized to Practice | 1982 | 03/06/2022 |
Legal answers | 1 |
Legal guides | 0 |
Title | Company name | Duration |
---|---|---|
Attorney / Member | J Michael Broumas, Attorney / Broumas Law group LLC | 1999 - Present |
Shareholder | Ober, Kaler, Grimes & Shriver, A Professional Corporation | 1991 - 1998 |
Shareholder | Calvin, Dylewski, Gibbs, Maddox & Verner | 1989 - 1991 |
Associate | Weil, Gotshal & Manges, LLP | 1984 - 1988 |
Associate | Milbank, Tweed, Hadley & McCloy, LLP | 1983 - 1985 |
Law Clerk | Bankruptcy Judge Thomas James, Chicago Illinois | 1981 - 1982 |
Association name | Position name | Duration |
---|---|---|
Maryland State Bar Association | Consumer Bankruptcy Section | 2000 - Present |
Maryland State Bar Association | Member | 1993 - Present |
Publication name | Title | Date |
---|---|---|
National Business Institute | Security Interests, Attachment, Perfection and Nonjudicial Rights and Remedies | 1989 |
National Business Institute | Bankruptcy Strategies for the Secured Lender | 1988 |
Distressed Business and Real Estate Newsletter | Opportunity Costs for Undersecured Creditors | 1987 |
School name | Degree | Graduated |
---|---|---|
Syracuse University College of Law | JD - Juris Doctor | 1981 |
University of Utah | BA - Bachelor of Arts | 1978 |
University of Utah | BS - Bachelor of Science | 1978 |
Conference name | Title | Date |
---|---|---|
Advanced Bankruptcy Seminar | Bankruptcy Strategy for the Secured Lander | 1988 |
Case name | Outcome |
---|---|
16-18341 | Filed - Active |
16-18343 | Active - Filed |
16-18337 | Filed - Active |
16-18338 | Active - Filed |
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July 24, 2017
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July 1, 2016
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