Bowie, MD Bankruptcy Lawyer for Different Types of Debt

Trusted Attorney Helping Clients Find the Best Debt Relief Solutions in Bowie, Maryland

Financial hardships can happen to anyone. The more you struggle to pay your monthly bills and feed your family, the more debt you may accumulate. Your creditors may be contacting you and threatening to initiate collections, foreclosure, or vehicle repossession. Before long, you can become overwhelmed, looking for ways to escape the vicious cycle. Debt relief through bankruptcy could be your best option to give you hope for a fresh start.

At Bloc One Services, LLC, we can help you turn financial setbacks into comebacks. We understand how financial strain can affect every aspect of your life, and we want to help. We offer high-quality legal services at fair and reasonable prices. Once we understand your situation, we will thoroughly explain your debt relief options and help you decide which one works best for you. We realize there are many lawyers to choose from, but not many are truly exceptional. If you are looking for a competent attorney who truly cares about helping you rebuild your future with hope, contact us today to schedule your free consultation.

Reorganizing or Eliminating Your Debt Through Bankruptcy

Many types of debt can leave you struggling to meet your payment obligations. Let us help you find an effective solution. With Chapter 7 bankruptcy, you could eliminate many of your debts. Chapter 13 allows you to restructure what you owe. We can help address debts that may include:

• Credit Card Debt: When cash flow is low, many people use credit cards to buy food, gas, and other necessities. Credit card interest rates are high, and making only the minimum payments does not really reduce balances. Over-the-limit charges and late fees can also add to your debt.
• Personal Loan Debt: People may take out unsecured personal loans for various reasons. Although interest rates for these loans are typically lower than credit card rates, the monthly payments are usually much higher.
• Foreclosures: Late mortgage payments can make lenders threaten foreclosure. Bankruptcy can temporarily halt a foreclosure while you take further steps to avoid losing your home.
• Repossessions: Unlike unsecured debts, some loans use collateral. Car loans are prime examples. If you fall behind on your payments, the lender may repossess the collateral. The automatic stay in bankruptcy can halt repossessions, and you might also be able to recover belongings that have already been repossessed.
• Tax Debt: Not all tax debts can be discharged through Chapter 7 bankruptcy, but some can. If you choose Chapter 13, your tax debts can be reorganized to allow you to pay them off over time.
• Property Tax Liens: City and county tax collectors can place liens on your real estate because of unpaid property taxes. Those liens sometimes make foreclosure likely. You may be able to restructure your past-due property tax obligations and keep your home through Chapter 13, and the automatic stay can halt a foreclosure temporarily.
• Medical Debt: Whether you have healthcare insurance or not, getting the treatment you or your children need for unexpected injuries and illnesses can be extremely expensive. Many insurance policies have high deductibles, and copays can quickly add up. Both Chapter 7 and Chapter 13 can provide relief from medical debt.
• Student Loans: Addressing private and federal student loan debt can be challenging. In many cases, this kind of debt is not dischargeable. However, exceptions for undue hardship are sometimes made.
• Garnishments: Some creditors may garnish your wages to recover their money when you fall behind on payments. Although some garnishments, such as alimony, child support, and certain tax debts, cannot be stopped through bankruptcy, others can be. The automatic stay should halt garnishments and prevent new ones from being established.
• Payday Loans: Many people try to make ends meet by taking out payday loans. Interest rates for these loans are astronomical, and it is often incredibly difficult to pay them off. These loans are usually considered unsecured personal debts, making them eligible for debt relief through bankruptcy.
• Past-Due Rent: If you fall behind on rent payments, your landlord may threaten to evict you. Although bankruptcy may not keep you from being evicted, it can discharge your back rent through Chapter 7 or provide a structured payment plan with Chapter 13.

Call Our Bowie Bankruptcy Attorney

When you choose Bloc One Services, LLC, we will help you build a solid foundation for a brighter financial future. Unlike some attorneys, we do not charge an arm and a leg for our high-quality services. Call 240-200-0076 or contact us online today to request your no-cost consultation. We serve Prince George's, Charles, and Montgomery Counties and Washington D.C.