Takoma Park, MD Chapter 13 Bankruptcy Attorney

Lawyer Helping Restructure Your Debt With Chapter 13 Bankruptcy in Takoma Park

Life always has its ups and downs. That truth applies to all aspects of your life, including your finances. When your financial situation is good, it is easy to overextend yourself. An unexpected downturn can leave you scrambling without enough money to repay your debts. The longer this situation lasts, the harder it is to escape from. You may need to file for bankruptcy to reestablish a solid financial foundation.

Good lawyers can be hard to find. Many attorneys charge much more than they should. When you choose Bloc One Services, LLC, you will be able to work with a truly exceptional attorney who does not believe in overcharging. You can expect skillful representation, customized recommendations, and a fierce determination to help you find the debt relief you need. Attorney Hope Blocton can give you the Hope you need to rebuild your future.

Turning a Financial Setback Into a Comeback With Chapter 13 Bankruptcy in Takoma Park, Maryland

No matter what led to your current financial position, you have a choice. You can let it continue to bog you down, or you can decide to do something about it. With the knowledge you have gained by experiencing your setback, you will be better prepared to handle future difficulties if you can start over. With Chapter 13 bankruptcy, you can.

Your current financial troubles probably revolve around having too many monthly payments. Added together, your total obligations may exceed your ability to pay your debts and still be able to put gas in your car and food on the table. Chapter 13 bankruptcy is based on creating a repayment plan. Hope Blocton will work with you, examining your income, expenses, and how much you can realistically afford to pay toward your debts. She will help you create a plan that will be approved by the bankruptcy court.

Your debts will be grouped together and prioritized, which determines the order in which they will be paid. Some debts may be paid in full, while other creditors may only receive a portion of what you owe. Rather than being responsible for sending payments to each of your creditors, you will make one payment to the bankruptcy trustee. Upon receipt of your payment, the trustee will disburse funds to your creditors.

The repayment plan typically takes three to five years, during which time you need to make your payment on time each month. The court could dismiss your case if you fail to make the required payments. One of the most attractive benefits of bankruptcy is the automatic stay. This court order will immediately prohibit your creditors from contacting you directly, attempting to collect debts, and pursuing any legal action against you. If your case is dismissed, you lose that benefit.

Credit counseling is mandatory for anyone who files for bankruptcy. Once you have satisfied your bankruptcy obligations, the court will discharge your case. Some of the debts included in your filing will likely have unpaid balances, which will be erased upon the discharge of your case.

Many of your debts will be gone, giving you the chance to start over with a clean slate. Because most of your disposable income will go toward your bankruptcy for several years, you will have become accustomed to living with a strict budget. It takes time and determination, but in the end, you will have definitely transformed your setback into a comeback.

Call Our Takoma Park, Maryland Chapter 13 Bankruptcy Lawyer

When you have had enough of struggling with insurmountable debt, Bloc One Services, LLC is ready to assist you in taking decisive action. Your path toward a stronger financial future begins with a no-cost consultation. Get started today by contacting us online or calling 240-200-0076.