Lanham Chapter 7 Bankruptcy Lawyer

Respected Chapter 7 Bankruptcy Attorney Helping You Move Forward in Lanham, MD

Sometimes, it can seem like your debts control your life. Almost every decision you make revolves around how much it costs and whether you can afford to pay for it. Whatever the reasons are behind your financial strain, the struggle can easily overwhelm you. Filing for bankruptcy may be the best option to take back control of your monetary situation. To do that, you need to find a lawyer you can trust to protect your interests and provide sound advice.

Look no further than Bloc One Services, LLC. We are dedicated to helping our clients rebuild their lives with Hope. We do that by offering high-caliber legal representation without charging unreasonably high fees. There are a lot of attorneys out there, but not all of them can provide the services you need. Attorney Hope Blocton is among the best. She truly wants you to succeed, and she will do everything in her power to make it happen.

Debt Relief Through Bankruptcy in Lanham, Maryland

People who are bearing a heavy financial burden can choose between Chapter 7 and Chapter 13 bankruptcy. After filing either type of petition, a bankruptcy automatic stay will go into effect. This court order will force most of your creditors to halt any legal actions against you and prevent them from attempting to collect your debt. Some debts are ineligible to be discharged through bankruptcy, such as student loans, child support, taxes, and alimony. A few exceptions may apply, and Hope Blocton will see if you can benefit from them.

Chapter 7

If most of your debt is unsecured, Chapter 7 may be just what you are looking for. With this form of bankruptcy, all of your eligible debts will be completely discharged, meaning you will no longer owe them. It will usually take around six months to complete your case.

You may be forced to give up some of your assets with Chapter 7. If that happens, the bankruptcy trustee will sell them in order to distribute the proceeds among your creditors. Maryland has several exemptions, though, so you may not have to give up many of your belongings. Attorney Blocton will work to help you keep as much of your property as possible.

A Chapter 7 bankruptcy filing can stay on your credit history for up to 10 years. While that may sound bad, the impact will lessen after the initial hit to your credit score. If your financial situation has you considering bankruptcy, your credit score is likely already low. Bankruptcy should put you in a much better position to meet your debt obligations in the future, which should gradually raise your score.

Chapter 13

With this form of bankruptcy, you do not have to worry about your assets being liquidated. You will develop a repayment plan that restructures your debt. With one monthly payment to the bankruptcy trustee, a good portion of your disposable income will go toward repaying those debts. You will make those payments for three to five years in most cases, and any balances left will be eliminated.

Debt Settlement Is Another Option for Lanham Debt Relief

You might be temporarily unable to meet your monthly payments, but you could manage them if you had better terms. Attorney Hope Blocton will negotiate with your creditors on your behalf, seeking better terms that could include partial debt forgiveness, a lower interest rate, an extended repayment term, or reduced monthly payments. Debt settlement does not have as big of an impact on your credit, but it also does not provide the protections that bankruptcy does.

Contact Our Lanham, Maryland Chapter 7 Bankruptcy Attorney

At Bloc One Services, LLC, we understand that the choice of whether to file for bankruptcy is a hard decision to make. You can count on our support and guidance at every step as you strive to regain control over your finances and your future. For your complimentary 30-minute consultation, give us a call at 240-200-0076 or contact us online today.