College Park, Maryland Chapter 13 Bankruptcy Lawyer

Bankruptcy Attorney Helping to Restructure Your Debt Through Chapter 13 in College Park

Many people's budgets are extremely tight. One unexpected expense can leave you trying to figure out how to pay it in addition to your regular expenses. As hard as you try, the amount of debt you have can grow until it becomes unmanageable. You may be dealing with creditors who are constantly calling or threatening to foreclose on your home, or your monthly minimum payments may total far more than your income. You can keep struggling, or you can conquer your mountain of debt by filing for bankruptcy.

Finding a competent attorney who is extremely knowledgeable about finances and bankruptcy, but who does not charge exorbitant fees, can be challenging. You have found her at Bloc One Services, LLC. Hope Blocton will help you explore various debt relief solutions and decide which is most suitable for you. Then, she will focus on helping you achieve your goals while protecting your interests. Your entire legal team will be helpful and supportive, but never judgmental. Let us give you the Hope you need for a fresh start.

Debt Relief Solutions in College Park

No single solution suits everyone. Fortunately, you have choices. Debt settlement may be an attractive choice if you expect your financial setbacks to be temporary, with a few adjustments needed. Attorney Hope Blocton may be able to negotiate concessions from your creditors, such as a lower monthly payment or an extended repayment period.

Chapter 7 bankruptcy is another option, but not everyone is eligible. This alternative is usually best for people who have unsecured debts and lower incomes. Although most of your eligible debts would be completely eliminated, you could lose some of your assets.

Conquering Your Debt With College Park, MD Chapter 13 Bankruptcy

Chapter 13 is an effective way to deal with secured debts and other types of debt if you have a steady income. With this type of bankruptcy, the trustee will not seize any of your belongings. Hope Blocton will work with you to create a repayment plan that will be based on how much you can realistically pay toward your debts each month.

You will no longer have to make separate payments to each of your creditors. Your single monthly payment to the bankruptcy trustee will be distributed to pay your debts according to priority. Secured debts will be paid first. Those payments usually continue for three to five years. At the end of that time, if there are still balances left, they should be wiped out if you have satisfied all of your Chapter 13 obligations.

Maryland Chapter 13 Bankruptcy Highlights

We want you to make informed decisions, so we strive to provide you with as much clarity as possible. Some of the important points about Chapter 13 bankruptcy include:

• The court will issue an automatic stay order to your creditors upon receiving your petition for bankruptcy. This order will make most creditors stop debt collection attempts and actions.
• You must make your bankruptcy payments on time every month or risk your case being dismissed.
• You must attend mandatory credit counseling.
• A Chapter 13 bankruptcy will stay on your credit history for seven years, but its effect will diminish over time.
• You should be prepared for most of your disposable income to go toward repaying your debts.

We understand this is a lot to take in. We are always available to answer your questions as we work toward your financial freedom through bankruptcy.

Contact Our College Park, MD Chapter 13 Bankruptcy Attorney

When your debt is overwhelming, relief from it becomes a necessity. Our skilled attorney at Bloc One Services, LLC is ready to help you rebuild your financial future. Your 30-minute initial consultation is free of charge, so book your appointment today by contacting us online or calling 240-200-0076.