Clinton Chapter 13 Bankruptcy Attorney

Respected Clinton, Maryland Bankruptcy Lawyer Helping You File Under Chapter 13

While you may have every intention of honoring your debts, life can sometimes throw obstacles into your path. You may be forced to choose which bills to pay, scrambling to find the funds. You might borrow money through personal loans, or you may rely on your credit cards. You may get further and further behind until your debt load is no longer manageable. Instead of letting your finances control you, you can take back control by filing for bankruptcy.

Many lawyers claim to be able to solve all your financial issues, but that does not mean they actually will. Good attorneys are hard to find, especially without having to pay unreasonably high fees. Bloc One Services, LLC provides exceptional legal services to all our clients, and we do not overcharge. We understand the toll that these financial strains can take on your life, and we will help you explore the various debt relief options to find the one that works best for you. Whichever path you choose, you can rely on us to be by your side throughout the entire process.

Common Concerns About Filing for Chapter 13 Bankruptcy in Clinton, Maryland

Filing for bankruptcy is not an easy decision, and it is natural that you may have concerns. With Chapter 7, most debts will be totally eliminated. However, Chapter 13 will restructure your debts, and most of your creditors will receive at least part of what you owe them.

Many people are embarrassed by filing for bankruptcy and wonder if everyone will know. Your filing will probably appear on background checks, and it is a public court record. However, most of your friends and family probably do not search court records regularly, hoping to find that someone they know has filed for bankruptcy. You are probably safe from discovery unless you specifically tell someone.

Another major concern for many is the fact that bankruptcy filings can cause a significant drop in credit scores. To be brutally honest, if your finances are in bad enough shape to file for bankruptcy, your credit score has probably already dropped. Although a Chapter 13 filing will not be removed from your credit record for seven years, the effect it will have on your credit score will lessen over time.

The Benefits of Chapter 13 Bankruptcy

The automatic stay is arguably the most appreciated benefit of filing for bankruptcy. Upon receiving your petition, the bankruptcy court will issue orders to your creditors. Most of them are required to cease any efforts to collect your debts immediately, including through garnishments, foreclosures, and repossessions.

You probably have several types of debt, with some being secured and others unsecured. Each of them likely requires a minimum monthly payment, and these financial obligations can add up quickly. Chapter 13 bankruptcy lets you consolidate eligible balances into a debt reorganization plan. Secured debts take priority over unsecured debts. Attorney Hope Blocton will work with you to determine a set amount that you should be able to pay toward your consolidated debts every month. You will pay that amount to the bankruptcy trustee, who will then distribute funds to your creditors.

A Chapter 13 filing usually takes between three and five years to complete. You must take a mandatory credit counseling course. You will also need to keep your payments to the trustee on schedule. Your case could be dismissed if you do not comply with the requirements. After you have completed your obligations, any balances included in your filing that are not fully paid off will be wiped out.

Call Our Clinton, MD Chapter 13 Bankruptcy Lawyer

To get the results you need in your bankruptcy case, you have to choose the right lawyer. Bloc One Services, LLC is the clear choice. Set up an appointment for your no-cost consultation today. You can call us at 240-200-0076 or contact us through a confidential online message to get started.