Bethesda, MD Chapter 13 Bankruptcy Lawyer

Skilled Attorney Helping People File for Chapter 13 Bankruptcy in Bethesda

When multiple sources of debt start to pile up with interest, you may begin to feel hopeless. However, your situation may not be as unsolvable as it appears. By filing for Chapter 13 bankruptcy, you can take control of your debts and pave a way forward to financial stability. A Bethesda bankruptcy attorney can provide you with guidance and representation through this rough patch, acting in your best interests from start to finish.

At The Law Office of Donald L. Bell, we understand just how high the stakes can be with debt, especially if you are facing foreclosure. Attorney Donald Bell has more than two decades of experience in consumer bankruptcy law, and over the years, he has helped clients get loans discharged and keep their homes through skillful negotiations.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy allows you to restructure your debts into a new repayment plan, giving priority to the more urgent debts while chipping away at the less important ones. Filing for this type of bankruptcy is ideal if you have a steady source of income to pay off your debts, which is why it is sometimes referred to as a "wage earner's plan."

A repayment plan in a Chapter 13 bankruptcy usually takes place over three to five years. When you complete the repayment plan, all of your remaining unsecured debts will be discharged, meaning you will no longer be responsible for paying them. Unsecured debts refer to loans that are not secured by collateral, such as hospital bills or credit card debts. At The Law Office of Donald L. Bell, we can help you draft a repayment plan that fits within your financial means.

Filing for Chapter 13 Bankruptcy to Avoid Foreclosure

If you have fallen behind on mortgage payments, the threat of losing your home can hang heavy over your head. By filing for Chapter 13 bankruptcy, you can catch up on late payments and eliminate other debts that may have made it more difficult to meet your financial obligations.

Additionally, once you petition for this form of bankruptcy, all creditors must cease their collection efforts. This means that you cannot be harassed or have your property seized by creditors while your bankruptcy case is still in effect. Chapter 13 bankruptcy can allow you to keep your home and your car during your repayment plan, giving you a sense of security while you work to pay down your debts.

Many people who are struggling with multiple debts have managed to save their homes through Chapter 13 bankruptcy. Attorney Donald Bell can sit down with you to assess your eligibility for Chapter 13 bankruptcy to see if it is the best option for you.

The Filing Process

Getting approved for Chapter 13 bankruptcy is a fairly intensive legal process that should be undertaken with the help of an attorney. After filing your petition for bankruptcy, you will have to meet with the trustee assigned to your case and answer questions about your repayment plan. Additionally, you will have to make a final appearance in bankruptcy court to assess the feasibility of your plan.

At The Law Office of Donald L. Bell, we can support you at every stage of the process, from the initial petition to the final court hearing. When you work with our firm, we will help you develop a sound repayment plan and answer any questions you may have.

Meet With a Bethesda, Maryland Chapter 13 Bankruptcy Attorney

If you are facing a mountain of debt, consider working with our Bethesda bankruptcy lawyer. Attorney Donald Bell has the skills, resources, and legal knowledge to help you file for Chapter 13 bankruptcy, taking your needs into account when drafting a repayment plan.

When you work with our firm, your case will not get passed from lawyer to lawyer. Attorney Donald Bell is a solo practitioner who gives all of his clients his fullest attention, bringing all of his experience to the table in every case. Call The Law Office of Donald L. Bell at 301-614-0535 today or contact us online to set up your free initial consultation.