Greenbelt, MD Chapter 7 Bankruptcy Lawyer

Attorney Helping to Eliminate Debts Through Chapter 7 Bankruptcy in Greenbelt

Trying to pay your bills on time can be challenging. Unexpected situations can totally disrupt your budget, your hours could be cut at work, or an accident or illness may result in extremely high medical bills. Financial strain can seep into every area of your life, until it becomes too much to bear. You need debt relief, and Chapter 7 bankruptcy might be the answer. As you prepare to file for bankruptcy, you need to choose the right lawyer to help you reach your goals.

At Bloc One Services, LLC, we strongly believe that you should not have to pay hefty fees for quality legal services. Our prices are very reasonable, and you get the advantages of working with "the people's attorney," Hope Blocton. She is not here to judge you for the situation you are in. She will work with you to determine the best way for you to move forward, advocating for your best interests when dealing with your creditors and the court. Your legal team will be firmly in your corner, helping you rebuild your financial footing and your future.

Determining Whether Chapter 7 Bankruptcy Is Right for You

You know you cannot keep going like you are, but you may not be sure which debt relief solution works best for you. Attorney Blocton will ask you about the types of debt you have, your income, and your goals before helping you decide between the different forms of bankruptcy and debt settlement.

Chapter 7 requires you to pass the means test. Depending on how your income compares to the state median income, you may pass immediately, or more calculations may be necessary to determine the amount of your disposable income. With this option, your eligible debts will be completely wiped out when the bankruptcy process is complete. In around six months, you will no longer have to worry about them. Other highlights of Chapter 7 include:

• Most of your creditors have to stop collections or legal actions against you as soon as you file because of the bankruptcy automatic stay.
• Some of your assets may be liquidated to pay your creditors.
• Many of your assets are likely exempt from liquidation.
• This form of bankruptcy is typically better for those who have several unsecured debts.
• Not every debt can be discharged through bankruptcy.
• Your bankruptcy filing will remain on your credit report for up to 10 years, but the impact it will have will lessen over time.

If you do not qualify for Chapter 7, or if it does not satisfy your other needs, you still have other alternatives to consider.

Chapter 13 bankruptcy offers the same automatic stay, but it differs significantly in how your debt is handled. Your debts will be restructured, allowing you to make one monthly payment that will then be disbursed among your creditors. Those payments typically continue for three to five years. This choice may be better if you have secured debts, as it does not require liquidation of your assets. The impact on your credit score may not be as severe, and it can be removed from your credit report sooner.

With debt settlement, Attorney Hope Blocton can negotiate with your creditors on your behalf. The intention is to bring your overall debt balances and monthly payment obligations to a manageable level.

Contact Our Greenbelt, Maryland Chapter 7 Bankruptcy Attorney

When you are ready to put your financial setbacks behind you for good, call Bloc One Services, LLC at 240-200-0076. For your convenience, you can also contact us online. We will help you turn these issues into comebacks through Chapter 7 bankruptcy. Your 30-minute initial consultation is free of charge, so schedule yours today.