Bowie Chapter 7 Bankruptcy Lawyer

Dedicated Attorney Giving You Hope for a Brighter Future Through Chapter 7 Bankruptcy in Bowie, MD

Trying to make ends meet can be hard. The struggle to pay your bills may force you to rely on credit cards to buy food and gas, starting a vicious cycle of high interest charges on carried-over balances. Medical bills and other unexpected expenses can add to these problems. When money is tight, some bills may be paid late, or they might not be paid at all. Chapter 7 bankruptcy may be the debt relief you need to start over with a clean slate.

When filing for bankruptcy, you need to rely heavily on your attorney's advice and skills, so choosing the right one is a must. "The people's attorney" at Bloc One Services, LLC offers high-quality legal representation at a fair price. Attorney Hope Blocton is not here to judge you for your financial bind; she is here to work with you to formulate an effective debt relief strategy, because she truly cares. You can make informed decisions confidently with our full support and guidance.

Several Kinds of Debt Can Lead to Chapter 7 Bankruptcy

You are not the only one who is in a financial bind. Hundreds of thousands of Americans pursue debt relief through bankruptcy every year. Sometimes, unanticipated events like losing your job, totaling your car, or your child becoming very ill may put you in a difficult financial position. In other cases, you may have several types of debt, each with monthly payments that have become unmanageable. Common debt obligations include:

• Student loans
• Medical bills
• Credit card balances
• Rent and utilities
• Mortgage payments and property taxes
• Other kinds of tax debts
• Vehicle loans
• Personal loans
• Payday loans

However you got to this point, you may be considering bankruptcy. Hope Blocton will go over the pros and cons of both Chapter 7 and Chapter 13 bankruptcy with you before deciding on the solution that fits your situation and goals.

The Chapter 7 Means Test

Not everyone qualifies for Chapter 7. You must pass a means test, which analyzes your income in comparison with Maryland's median income. If the amount you earn is less than the median amount, you probably qualify. You may still be eligible even if you make more than the median, but other factors need to be considered. If you are ineligible, you may want to consider debt settlement or Chapter 13.

Understanding Chapter 7 Bankruptcy

This option is generally better for people who have a large number of unsecured debts. Sometimes called liquidation bankruptcy, Chapter 7 can eliminate most of your unsecured debts. For secured debts, such as for your car or home, you may have choices. If you want to keep the assets, you can reaffirm your debts and begin making the expected payments. If you prefer to relinquish the collateral, you can have your balances forgiven.

Upon filing for bankruptcy, the automatic stay begins. Most creditors must cease legal proceedings against you, and they cannot contact you to attempt to collect your debts.

The Chapter 7 trustee may seize some of your assets for liquidation to pay some of your creditors. Some assets are exempt under Maryland law, such as:

• Your primary residence, if the equity you own is below a specific amount
• Medical equipment and other prescribed health aids
• A specific amount of personal clothing, furniture, and other household items
• Some equipment or tools you need for your job
• A wildcard exemption, allowing you to keep assets of your choice with a total value of up to $6,000
• Retirement benefits and accounts
• Government and disability benefits
• Alimony and child support
• Proceeds from a personal injury claim and other insurance benefits

Attorney Hope Blocton will work with you closely to help you keep as many of your belongings as possible.

The Chapter 7 process usually takes only a few months. When complete, all remaining eligible debts will be wiped away, giving you a clean slate. However, not all debts can be included in bankruptcy. Some non-dischargeable debts include recent taxes, student loans, and unpaid child support.

Contact Our Bowie, Maryland Chapter 7 Bankruptcy Attorney

When you need fast and effective debt relief, our skilled Chapter 7 bankruptcy attorney will protect your interests as she guides you through the process. Your 30-minute initial consultation is free, so make an appointment today by calling 240-200-0076 or contacting us online.