Largo, Maryland Chapter 13 Bankruptcy Lawyer

Attorney Assisting With Debt Relief Through Chapter 13 Bankruptcy in Largo

If your financial burden has grown too heavy for you to bear, you are not alone. There is no need to feel ashamed or that you have failed in some way. However you arrived at your current financial position, you can choose how to move forward. Ignoring your debt will not make it go away. In fact, that usually makes your situation worse. Creditors may use different methods to collect your debt. Filing for bankruptcy can stop them in their tracks and serve as the basis for a brighter future.

When you need Hope for a fresh start, only one lawyer can truly provide it. Hope Blocton of Bloc One Services, LLC is dedicated to helping you find the best form of debt relief for your situation. We understand how stressful financial strain can be, and we do not want to add to it. You can expect skillful representation at a fair price. You will have the full support of our legal team without any judgment. Whichever debt relief solution you choose, we will fiercely safeguard your best interests.

Addressing Common Concerns About Filing for Bankruptcy in Largo, Maryland

If you are considering bankruptcy, you probably have several questions. If we do not answer them here, just ask. Concerns that clients frequently mention include:

• Will everybody know I filed for bankruptcy? Bankruptcy filings are public records, but that does not mean anyone will search for them. Employers and others who run background checks may see your filing, but we can help you plan a suitable response to any questions they may have. The odds are that if you do not tell anyone you filed, they will never find out.
• How badly will my credit score be affected by filing for bankruptcy? Your credit score will drop. A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while Chapter 13 is usually removed after seven. After the initial hit, the negative impact usually lessens. Your credit score has probably already dropped due to your financial strain, so the impact may not be as severe as you expect.
• Will all my debts be eliminated? With Chapter 7, most of your debts will be completely erased. Chapter 13 will repay some of your creditors in full, with others potentially receiving only a partial amount. Some debts may not be dischargeable, including student loans and child support or spousal support obligations. However, eliminating other debts may free up funds that can be used to meet your ongoing obligations.

You need to carefully consider the pros and cons before you decide what to do. We will help.

Chapter 13 Bankruptcy Benefits

Chapter 13 bankruptcy will consolidate and restructure your various debts. Instead of making monthly payments to each of your creditors individually, you will make one payment to the bankruptcy trustee. Some creditors and types of debt take priority, so they will be paid first.

Attorney Hope Blocton will examine your finances and help you arrive at a payment amount that you can realistically pay. The court must approve your repayment plan. You will need to go through credit counseling, and you must be careful not to miss any payments to the trustee. If you do not uphold your obligations, the court might dismiss your case, allowing your creditors to take action to collect debts.

Unsecured debts are the last to be paid. When you have completed your payments to the trustee, any balances that are left will be wiped out. Chapter 13 typically takes three to five years.

Contact Our Largo, MD Chapter 13 Bankruptcy Attorney

Partnering with Bloc One Services, LLC is the clear choice if you want exceptional legal services and guidance during your bankruptcy case. An appointment for your complimentary consultation is waiting for you to claim it. Contact us today either online or by calling 240-200-0076.