Oxon Hill Chapter 13 Bankruptcy Lawyer

Get the Debt Relief You Need in Oxon Hill, MD Through Chapter 13 Bankruptcy

Paying for life's necessities can be hard. Try as you might, you may begin to get behind on paying your bills. Late and missed payments add penalties and interest. Soon, your debt can far exceed your ability to pay. You may start to get calls from bill collectors, and you might be threatened with legal action.

If you are in this situation, you have a hard choice to make. Do you keep trying, hoping your efforts will be enough to satisfy your creditors, or should you take decisive steps to regain control? Bankruptcy is an effective solution with several advantages, and it may be just what you need.

At Bloc One Services, LLC, we know that the same debt relief options do not suit everyone. After we discuss your types of debt, expenses, income, financial reserves, and objectives, we will recommend specific solutions that best suit your situation. Whichever option you choose, whether debt settlement, Chapter 7, or Chapter 13 bankruptcy, we will always be in your corner, protecting your interests and working hard to help you achieve your goals. We are proud to offer top-notch legal services without overcharging. Take the first step toward rebuilding your future today with Hope.

Understanding Chapter 13 Bankruptcy in Oxon Hill, Maryland

Chapter 13 bankruptcy is often the best choice for people who have secured debts and a steady income. Like most things, this type of bankruptcy has its advantages and disadvantages, and you will need to consider each carefully. Attorney Hope Blocton will work with you to be sure you understand every aspect, and she will help you decide if Chapter 13 is right for you. Some of the main highlights of Chapter 13 include:

• You benefit almost immediately from the bankruptcy automatic stay, which is a court order requiring most of your creditors to stop any actions attempting to collect debts. Foreclosures, repossessions, and garnishments are examples of actions that must cease, along with calls or other forms of contact requesting payment.
• Your Chapter 13 repayment plan will consolidate and prioritize your debts, with unsecured debts coming last.
• You and Attorney Blocton will examine your income and expenses to create a reasonable repayment plan, which will set a specific amount you will pay toward your debts each month.
• Most of your disposable income will be included in your repayment plan.
• Instead of making individual payments directly to your creditors, you will make a single payment to the bankruptcy trustee.
• The trustee will pay your creditors according to priority.
• You are required to complete credit counseling.
• Your Chapter 13 case will usually lasts from three to five years.
• If your payments are late or missed, your case could be dismissed, negating the automatic stay.
• When you have successfully fulfilled all your bankruptcy obligations, your case will be discharged.
• If any of the balances included in your filing that have not been fully paid when your case is discharged will be eliminated, and you will no longer owe them.
• This type of bankruptcy can stay on your credit report for seven years, but its effects will diminish over time.

It may take a bit for you to process all that information and understand how it would affect you. You will probably have specific questions, and we are happy to answer them. We can also explain the other debt relief options in more detail if you are unsure about whether Chapter 13 is the right choice for you.

Contact Our Oxon Hill, Maryland Chapter 13 Bankruptcy Attorney

You do not have to let your creditors and debt control your life. Take control back with the skillful assistance you will find at Bloc One Services, LLC. When you are ready to get started, contact us to schedule a consultation. It is free of charge. You can reach us online or at 240-200-0076.