Beltsville, MD Chapter 13 Bankruptcy Lawyer

Attorney Helping You With Debt Relief Through Chapter 13 Bankruptcy in Beltsville

When you assumed your debt obligations, you probably had full intentions of repaying them according to the terms agreed upon with creditors. You may have succeeded for a while, only to start falling gradually behind. You could have been faced with an unanticipated setback that threw your finances off track. The snowball effect may have overtaken your finances, leaving you without the ability to make all your monthly payments. Regardless of how you got to this point, you can find debt relief through bankruptcy.

To determine the best form of debt relief for your situation, you need a skilled attorney in your corner. Adding Bloc One Services, LLC to your team means you will have a determined advocate ready to protect your interests while providing exceptional guidance and legal services, and our fees will not break the bank. We want you to succeed, so we will be at your side at every step to answer questions and address concerns. Start rebuilding your future today with Hope.

Deciding if Chapter 13 Bankruptcy Is Right for You

If you have a steady income and secured debts, Chapter 13 bankruptcy may be the best debt relief option. The automatic stay is one of the best benefits of filing for bankruptcy. The court will notify each of your creditors after you file, issuing an order to cease collection efforts and actions like repossessions, foreclosures, and garnishments. The instant relief the stay can bring is invaluable, and it will give you a clearer head to make decisions about your financial future.

During your Chapter 13 bankruptcy case, Attorney Hope Blocton will work with you to develop a reorganization plan. This plan includes all your eligible debts and an amount you can reasonably pay toward them every month. These debts will be prioritized, with secured debts being among the first paid.

Before bankruptcy, you were expected to make individual payments to each of your creditors. The total of those payments was probably more than you could afford. After the court approves your repayment plan, you will no longer pay your creditors directly. Instead, your single monthly payment will be made to the bankruptcy trustee, who will then disburse the funds in accordance with your plan.

Most filers must make payments for three to five years, and they need to be made on time, every time. If you do not meet these requirements, your bankruptcy case could be dismissed, and your creditors could once again attempt to collect your debts. You will also need to take a credit counseling course mandated by the court. If you uphold your obligations, any balances on unsecured debts that remain unpaid should be wiped out.

Other Debt Relief Options in Beltsville

Chapter 7 bankruptcy is primarily for people without a steady income who have large amounts of unsecured debts. When the process is complete, which typically takes around six months, eligible debts will be eliminated. However, some of your assets may be subject to seizure.

Debt settlement is another alternative. If you choose this route, Attorney Blocton will negotiate for better terms with each of your creditors. The concessions she may ask for could include giving you a longer time to repay your debt, forgiving part of your balances, and arranging for lower monthly payments. This option can be effective, but you will not have the protections offered by bankruptcy, and there is no guarantee that your creditors will agree.

Contact Our Beltsville Chapter 13 Bankruptcy Attorney

If you are searching for an effective attorney who has the skills, legal and financial knowledge, and experience you can rely on, contact Bloc One Services, LLC today. We will provide you with an initial consultation free of charge. Schedule yours by sending us a message online or calling 240-200-0076.