Hyattsville, Maryland Chapter 7 Bankruptcy Attorney

Hyattsville Debt Relief Lawyer Giving You Hope for a Fresh Start Through Chapter 7 Bankruptcy

Dealing with mountains of debt without realistically being able to pay them can be overwhelming. When your financial burden is too much to bear, it can affect your entire life, impacting your employment, personal relationships, and your enjoyment of life itself. Wondering if you will be able to buy toilet paper or feed your hungry kids is not a good way to live, but you do not have to continue along that path. With the skillful assistance of an experienced attorney, you can file for bankruptcy and get the debt relief you need to reclaim your life.

Hope Blocton, often called "the people's attorney," understands your struggles. The preliminary work she performs will give her the knowledge she needs to make customized suggestions to help you achieve your goals. Her financial acumen, focused legal knowledge, experience, and skills allow Bloc One Services, LLC to provide competent, effective legal representation. However, our fees are fair and reasonable. We will handle your case with care, not judgment, and we will always safeguard your interests.

Addressing Concerns About Hyattsville, Maryland Chapter 7 Bankruptcy

Many people are uncertain about various issues associated with filing for bankruptcy, and we want to set the record straight. If you will not be eligible to file for Chapter 7, you may want to consider negotiated debt settlement or Chapter 13 bankruptcy. Each of these involves repaying at least a portion of your debts.

Next, there is usually a worry about how bankruptcy will affect your credit score. It is true that any form of bankruptcy causes a drop in your credit score. Chapter 7 filings can stay in your credit history for up to a decade, while Chapter 13 filings will drop off your report sooner. However, you should also consider the derogatory marks you may already be getting because you have missed payments or maxed out your credit cards. If nothing changes with your finances, you may never escape the vicious cycle of debt. Filing for bankruptcy is a way of reclaiming control, and it will give you the opportunity to start over.

Finally, you may wonder whether anyone will know you filed for bankruptcy. Unless you tell them, most people will never learn of it. It may appear on background checks, but the people who order those have specific reasons for searching.

How Chapter 7 Bankruptcy Can Help You in Hyattsville

The automatic stay is one of the most important benefits of filing for bankruptcy. Your creditors must follow court orders that will require them to stop attempting to collect your debt and cease legal actions against you.

Most people who choose Chapter 7 have unsecured debts, meaning there is no collateral tied to them. Personal loans, credit card bills, and medical debt are examples. With this form of bankruptcy, which typically takes around six months to complete, your debts that are eligible for discharge will be wiped out completely.

Not everyone is eligible for Chapter 7. The means test could disqualify you if your income is too high. Remember, you still have other debt relief options.

The bankruptcy trustee may take some of your assets for liquidation. The money obtained by selling these assets would go to repay some of your creditors. However, you can likely keep many of your possessions through the exemptions available in Maryland.

You cannot eliminate some debts through any form of bankruptcy. However, once the bankruptcy process is complete, your cash flow should be much better, allowing you to tackle any remaining debts more easily.

Call Our Hyattsville, MD Chapter 7 Bankruptcy Lawyer

If your debts have become overwhelming, you can keep struggling, or you can find much-needed debt relief by filing for Chapter 7 bankruptcy. Bloc One Services, LLC will provide the advice and support you need as you move forward. Call 240-200-0076 now to schedule your free and confidential consultation. If you prefer, you can also contact us online.