Laurel, Maryland Chapter 13 Bankruptcy Attorney

Skilled Bankruptcy Lawyer Helping You File for Chapter 13 in Laurel

As hard as you may try to create and stick to a reasonable budget, any number of situations can throw it into disarray. Having to miss work due to an illness or injury, your car needing major repairs, or other circumstances beyond your control can strike without warning, leaving you wondering what to do. If you fall behind on payments, your creditors are likely to get increasingly more aggressive in trying to collect your debt. Filing for bankruptcy might be the debt relief solution you need.

You will rely heavily on your bankruptcy lawyer's advice, so you need one whose experience and knowledge you can trust. "The people's attorney," Hope Blocton, and Bloc One Services, LLC are ready to help you find the debt relief you need. You can depend on us for skillful guidance and support as we help you explore the various options to address your financial burdens. We do not overcharge, unlike some attorneys. We truly want to help you rebuild your future with Hope.

How Chapter 13 Bankruptcy Can Help Rebuild Your Future in Laurel, Maryland

Right now, your future probably looks bleak. If you have significant credit card debt and can only make the minimum payments each month, it can take years to pay off your balance even if you do not make any additional purchases. When your budget is stretched beyond its limit, even minimum payments can be hard to make. Add in a car payment, your rent or mortgage, student loans, medical bills, and other types of debt, and you may never get everything caught up and paid off.

Chapter 13 bankruptcy can help you manage your debts, pay them off, and leave you with a clean slate to start fresh. With this type of bankruptcy, your debts will be consolidated and prioritized. Tax obligations, student loans, secured debts, and others come before unsecured debts. You will work with Attorney Hope Blocton to develop a repayment plan, which will consider your income and expenses to arrive at a reasonable figure you will pay each month toward your debts. The bankruptcy court will need to approve your plan.

You will no longer pay your creditors directly. Instead, your payment will go to the bankruptcy trustee. Going by your prioritized list of debts, the trustee will distribute your payments to your creditors. You will make payments under a Chapter 13 repayment plan for three to five years. Making them on time is very important. Late or missed payments could result in the court dismissing your case. If that happens, your creditors can proceed with collection attempts. The bankruptcy automatic stay will halt those actions when you first submit your petition.

When you have made all the required payments and completed the mandatory credit counseling, your case will be discharged. If there are still balances left on the debts you included in your filing, they will be erased.

Other Debt Relief Options to Consider in Laurel

Often called liquidation bankruptcy, Chapter 7 is primarily for people without a steady income whose debts are mostly unsecured. If you pass the means test, the process takes approximately six months, at which point most of your eligible debts will be eliminated. However, you may lose some of your assets.

You may be experiencing only a temporary financial setback. If you have a steady income, and you could manage your debts if the terms were slightly different, debt settlement could work well. Attorney Blocton will negotiate for concessions from your creditors, which might include an extended repayment term, partial debt forgiveness, or lower payments. This option does not have the protections of bankruptcy, and your creditors may not agree to your requests.

Call Our Laurel, MD Chapter 13 Bankruptcy Lawyer

Finding an exceptional attorney is invaluable when you need legal assistance with debt-related issues. You have found the legal help you need at Bloc One Services, LLC. Contact us today, either online or at 240-200-0076, to arrange a convenient time for your free and confidential 30-minute consultation.