Clinton, Maryland Chapter 7 Bankruptcy Lawyer

Trusted Bankruptcy Attorney Helping You File for Chapter 7 in Clinton, MD

Constantly struggling to pay your bills and looking over your shoulder to see if a debt collector is about to pounce is not a healthy way to live. Unfortunately, many people have overwhelming amounts of debt with no good way to pay off the amounts they owe. Whether you have experienced an unexpected difficulty or just bit off more than you could chew, you need debt relief to get your life back on track. Call the people's attorney, Hope Blocton, to explore your options for filing for bankruptcy.

Bloc One Services, LLC understands the financial burden you are trying to bear, and the last thing we want to do is add to it. Instead, we proudly provide high-quality legal services at fair and reasonable prices. We are not judgmental, so you do not have to worry about whether we will make you feel uncomfortable about your financial situation. Our goal is to protect your interests as we guide you toward a customized debt relief plan that gives you Hope for a better financial future.

Eliminating Eligible Debts Through Chapter 7 Bankruptcy

Bankruptcy is a powerful financial tool that can help you change the course of your financial future. However, not every type of debt is eligible to be included. Ineligible debts include most tax obligations, most student loans, child support arrears, and spousal maintenance. Attorney Blocton will go over your list of outstanding debts and work with you to develop the best strategy to deal with them.

Even if some of your debts are not dischargeable, you can still benefit from Chapter 7. With this form of bankruptcy, your eligible debts will be completely eliminated. That means you will no longer have those monthly payments to worry about, and the money that used to be split between several debts can now be focused on only a few.

The Chapter 7 Means Test

To determine whether you can file for Chapter 7 bankruptcy in Clinton, your earnings will be compared to the median income amount in Maryland. You are probably eligible for Chapter 7 if your income is less than the median. You may still qualify if you have a higher income, but our lawyer will need to do some additional calculations to demonstrate that you do not have enough disposable income to reasonably pay off your debts.

If you do not qualify for Chapter 7, that does not mean you cannot find debt relief. Debt settlement could be an option. With this alternative, Attorney Blocton can approach each of your creditors in an attempt to negotiate better terms. You may also consider Chapter 13 bankruptcy. With that form of bankruptcy, your debt would be restructured. You would make a single payment, and the trustee would be in charge of distributing the funds to your creditors.

The Pros and Cons of Chapter 7 Bankruptcy

Like most things, Chapter 7 bankruptcy has both benefits and drawbacks, including:

• The bankruptcy automatic stay will keep most of your creditors from taking legal action against you or attempting to collect your debts.
• Some of your assets may be liquidated to provide payment to your creditors.
• Many of your assets are likely exempt from liquidation.
• The entire process usually takes only a few months.
• Your Chapter 7 filing will stay on your credit report for up to 10 years.
• The impact of bankruptcy on your credit will diminish over time.

We will explain everything you need to consider when deciding whether bankruptcy is right for you. If you have questions or concerns, either before or during the process, just ask.

Contact Our Clinton Chapter 7 Bankruptcy Attorney

Reduce your stress by relieving your debt burdens through Chapter 7 bankruptcy. At Bloc One Services, LLC, your initial 30-minute consultation is free of charge. Schedule yours now by calling 240-200-0076 or contacting us online.