Laurel, MD Chapter 7 Bankruptcy Lawyer

Bankruptcy Attorney Helping Relieve You From Your Debt Through Chapter 7 in Laurel

Do you ever feel like your financial troubles are in control of your life? If so, you are not alone. Many people struggle with mounting debts, late payments, and choosing which bills to pay and which to let slide. You may wonder if there is an end in sight, or if this is just how you can expect your life to be from now on.

When you get tired of the strain, you can regain control over your finances and your life by filing for bankruptcy. The lawyer you choose to assist with your bankruptcy case needs to be someone you can trust to have your back, protecting you and working alongside you to determine the best debt relief solutions.

When you choose Bloc One Services, LLC, you have found the right attorney, Hope Blocton. She will not judge you because of your financial position. Instead, she will explain your debt relief options and help you decide which to choose. We do not want to add to your burdens, so we do not charge excessive fees for our exceptional legal services. We will help you rebuild your future with Hope.

Understanding Chapter 7 Bankruptcy in Laurel, Maryland

The Chapter 7 bankruptcy process only takes around six months, so there is light at the end of the tunnel. You will experience immediate relief when the bankruptcy automatic stay goes into effect shortly after you file. Orders issued by the bankruptcy court will go to your creditors, informing them that they must pause any legal actions and collection efforts. That relief alone is priceless, but there are several more benefits.

Chapter 7 is usually a better solution for people with unsecured debts, like personal loans, credit card bills, and medical debt. When your filing has been processed and your case is closed, you will no longer owe any of your eligible debts. Not every type of debt is dischargeable, but that applies to all forms of bankruptcy. You can still benefit from bankruptcy even if you have non-dischargeable debts. Your monthly payment obligations should be reduced because of your discharged balances, so your cash flow can better cover the remaining payments.

Sometimes called liquidation bankruptcy, Chapter 7 may cause you to lose some of your belongings. They could be sold, with the proceeds distributed among your creditors. However, there are several categories of belongings that are exempt. Hope Blocton does not want you to lose your assets, so she will protect your interests and work to help you keep as much of your property as possible.

Many people who are considering bankruptcy worry about the impact on their credit score. This is understandable, since bankruptcy will cause your score to drop. Even though your bankruptcy will not be removed from your credit history for 10 years, the effects will lessen over time.

Another point to consider is that your credit score may have already dropped because of high credit card usage, late or missed payments, and other negative factors. With bankruptcy, you are making a decisive effort to put yourself in a better financial position, and you can take steps to improve your credit score in the future.

Chapter 7 Bankruptcy Is Not Your Only Option for Debt Relief in Laurel

To file for Chapter 7, calculations will be made comparing your income to the state's median income. More calculations may be needed if your earnings are too high. You may not qualify for Chapter 7, or you may want to consider other forms of debt relief.

If Chapter 7 is not right for you, Attorney Hope will help you explore other options. Debt settlement involves negotiating for better terms with your creditors so that you will be able to meet your ongoing obligations. Chapter 13 bankruptcy will restructure your debts, giving you between three and five years to make payments towards them. When you have satisfied your obligations, any balances remaining will be discharged.

Contact Our Laurel, Maryland Chapter 7 Bankruptcy Attorney

When monetary concerns rule your life, you can take control back by filing for bankruptcy with the help of Attorney Hope Blocton and Bloc One Services, LLC. Your free 30-minute consultation is only a phone call or online message away. Call 240-200-0076 now to schedule yours.