Greenbelt Bankruptcy Attorneys

Bankruptcy Services for Individuals, Families, and Businesses in Greenbelt, MD

Facing overwhelming debt can be incredibly stressful, especially if you are constantly receiving calls from debt collectors and are concerned about the loss of your home or other property. Fortunately, bankruptcy can provide a legal solution to help you regain control of your finances and avoid ongoing difficulties. At The Law Office of Donald L. Bell, we offer a full range of bankruptcy services to help individuals, families, and businesses in Greenbelt, Maryland and the surrounding areas address these financial challenges. Whether you are struggling with personal debt or dealing with business-related financial difficulties, our experienced bankruptcy attorney will guide you through the process and help you determine the best options for your situation.

Chapter 7 Bankruptcy

One of the most common forms of bankruptcy for people who are seeking relief from overwhelming unsecured debt is known as a "liquidation bankruptcy." In Chapter 7 cases, non-exempt assets may be liquidated to repay creditors. However, Maryland's bankruptcy exemptions can protect most personal property in these situations, allowing you to keep essential assets such as your home, vehicle, and personal belongings.

At The Law Office of Donald L. Bell, our attorney will help you:

• Evaluate Eligibility: Not everyone qualifies for Chapter 7 bankruptcy. Our attorney will evaluate your financial situation to determine whether you meet the means test, which assesses your income and expenses compared to the state median income.
• Eliminate Unsecured Debt: Chapter 7 can discharge various types of debts and ensure that you receive a fresh financial start. Our attorney will guide you through the process of eliminating these debts and ensuring that you will be able to avoid financial difficulties in the future.
• Navigate the Bankruptcy Process: Filing for Chapter 7 bankruptcy involves completing complex paperwork, attending creditor meetings, and following court procedures. Our attorney will assist you throughout the entire process, ensuring that your case proceeds smoothly and that you understand your rights and obligations.

Chapter 13 Bankruptcy

This type of bankruptcy may be ideal for people with a steady income who want to reorganize their debts into manageable monthly payments. Unlike Chapter 7, Chapter 13 allows you to keep all your property, including non-exempt assets, while catching up on past-due debts over a three-to-five-year repayment plan.

At The Law Office of Donald L. Bell, we help clients with Chapter 13 bankruptcy by:

• Creating a Repayment Plan: Our attorney will work with you to develop a plan that fits your budget and will be approved by the bankruptcy court. This plan will allow you to repay priority debts such as taxes and child support while also catching up on secured debts like your mortgage or car loan.
• Eliminating Unsecured Debt: While Chapter 13 requires you to repay a portion of your unsecured debts, any remaining balances may be discharged at the end of your repayment plan. We can ensure that your debts will be addressed correctly once the bankruptcy process concludes.

Business Bankruptcy

For businesses that are facing financial difficulties, business bankruptcy may offer the opportunity to restructure debts or liquidate assets in a way that protects a company's future. At The Law Office of Donald L. Bell, we assist business owners with:

• Chapter 11 Bankruptcy: Businesses that file for bankruptcy can typically continue operating while restructuring their debts and operations. Our attorney will help draft a reorganization plan that satisfies creditors and allows a business to remain open. We can also provide representation in negotiations with creditors and in bankruptcy court.
• Chapter 5 Bankruptcy (Subchapter V of Chapter 11): For small businesses with a limited amount of debt, a streamlined version of Chapter 11 bankruptcy may be available. This process reduces costs and complexity while allowing small businesses to restructure and pay off their debts over time. Our attorney can help determine whether a business qualifies for Chapter 5 and assist with the process of developing a manageable repayment plan.

Types of Debt Addressed Through Bankruptcy

Bankruptcy provides relief from a wide range of debts. Our attorney at The Law Office of Donald L. Bell can review your financial situation to determine which debts can be discharged or restructured through bankruptcy. Some of the most common types of debt that can be addressed in these cases include:

• Credit Card Debt: High-interest credit card balances can be eliminated through both Chapter 7 and Chapter 13 bankruptcy, providing significant relief if you are unable to pay off these debts.
• Medical Debt: Bills related to medical treatment can be overwhelming, especially after a major illness or injury. Bankruptcy allows you to discharge medical debt, giving you relief from these financial burdens.
• Personal Loans: Unsecured personal loans, payday loans, and other types of loans that are not backed by collateral can be discharged in bankruptcy.
• Mortgage Debt and Foreclosure: For homeowners facing foreclosure, Chapter 13 bankruptcy allows you to stop foreclosure proceedings and catch up on missed mortgage payments through a repayment plan.
• Car Loans and Repossessions: If you are behind on car loan payments, bankruptcy can help stop a repossession or recover a repossessed vehicle while providing a way to catch up on payments.
• Tax Debt: Some older tax debts may be discharged through bankruptcy, or taxes, penalties, and interest may be paid off as part of a Chapter 13 repayment plan.
• Property Tax Liens: Unpaid property taxes can lead to liens and even foreclosure. Bankruptcy can stop foreclosure and allow you to repay property taxes over time.
• Student Loans: While student loans are typically difficult to discharge through bankruptcy, our attorney can help you explore options for managing your student loan debt alongside other debts.

Elder Bankruptcy and Special Considerations for Seniors

In some situations, seniors may face financial difficulties due to fixed incomes, medical expenses, and limited savings. They may face specific concerns such as protecting retirement savings and preserving their family homes. At The Law Office of Donald L. Bell, we understand these unique challenges, and we work to ensure that our clients understand their options for elder bankruptcy so they can resolve their debts while maintaining financial security.

How The Law Office of Donald L. Bell Can Help With Bankruptcy Exemptions

You can take steps to protect your property during the bankruptcy process by utilizing exemptions. Maryland provides specific exemptions for homesteads, personal property, retirement benefits, and more. Our attorney will ensure that you can take full advantage of the available exemptions to protect your assets.

Contact Our Greenbelt, MD Bankruptcy Lawyer

If you are struggling with debt, The Law Office of Donald L. Bell is here to help you protect your financial future. Whether you need help with Chapter 7, Chapter 13, or business bankruptcy, our experienced attorney will provide personalized legal guidance to ensure that you can address debt-related concerns and receive a fresh start. Contact us and set up a consultation by calling our office at 301-614-0535.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.