Baltimore, MD Chapter 13 Bankruptcy Attorney

Skilled Lawyer Providing Legal Help With Chapter 13 Bankruptcy in Baltimore

There is only so much debt a person or married couple can take on before it starts to become unmanageable. When creditors start knocking at your door for late or missed payments, you can protect your property by filing for Chapter 13 bankruptcy. A knowledgeable Baltimore bankruptcy attorney can guide you through this process, assessing your financial situation and taking action to help you reach a point of financial stability.

At The Law Office of Donald L. Bell, we are highly familiar with bankruptcy law. When you work with our attorney, you can take comfort knowing that you will receive individualized legal services to address your debts with a sensible repayment plan. Attorney Donald Bell has assisted clients in bankruptcy cases for over 20 years, pursuing an ideal outcome in every case.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy can be thought of as a mechanism to restructure your debts. This is accomplished by drafting a repayment plan that puts priority debts first before making contributions towards secured debts like a mortgage or car loan. If you have any disposable income left over, it will go toward your low-priority unsecured debts.

The repayment plan can last anywhere from three to five years, and once completed, the remainder of your unsecured debts can be legally discharged. Keep in mind that not all unsecured debts can be discharged, such as child support payments.

Drafting a repayment plan requires a knowledge of how bankruptcy courts operate. If you propose a repayment plan that does not address how your creditors will be paid back over time, it could be denied. At The Law Office of Donald L. Bell, we can sit down with you to create a realistic repayment plan that is within your needs.

Avoiding Foreclosure Through Chapter 13 Bankruptcy

Your mortgage may very well be your number one concern when it comes to your debts. The threat of foreclosure on your house can be cause for panic, especially if you are already juggling the costs of utilities and other necessities. One of the biggest points in favor of Chapter 13 is that it allows you to preserve your assets, including your home.

While you are making payments toward your Chapter 13 bankruptcy repayment plan, your creditors cannot make any attempts to seize your property or assets. If you need time to cover late mortgage payments, your repayment plan can help get you back on track without the threat of homelessness hanging over your head. At The Law Office of Donald L. Bell, we can discuss possible strategies to help you avoid foreclosure based on your income.

Is Chapter 13 Bankruptcy the Right Solution for Me?

Chapter 13 bankruptcy is best suited for people who are going through financial hardship but can support themselves with a steady income. Unlike Chapter 7 bankruptcy, which allows you to discharge your debts in a relatively short amount of time, Chapter 13 is a long-term arrangement that lets you protect your property.

Note that filing for bankruptcy will appear on your credit report and any background checks run by employers. At The Law Office of Donald L. Bell, we can meet with you individually to discuss your options for dealing with your debt.

Meet With a Baltimore, Maryland Chapter 13 Bankruptcy Lawyer

If you need help petitioning for Chapter 13 bankruptcy, The Law Office of Donald L. Bell is ready to provide you with legal support throughout the entire process. Attorney Donald Bell can help you compile all of the documents you need and work with you to create a feasible repayment plan. When it comes time to appear in bankruptcy court, Attorney Bell can advocate for you in front of a judge and the bankruptcy trustee.

Your financial stability matters to us. To schedule a free initial consultation, call our offices at 301-614-0535 or contact us online today.