Catonsville, MD Chapter 13 Bankruptcy Attorney

Knowledgeable Catonsville Lawyer for Debt Restructuring in Chapter 13 Bankruptcy

Between a mortgage, student loans, child support, alimony payments, a car loan, and tax obligations, it can be easy to fall behind on a repayment schedule when you have multiple sources of debt to deal with. Worse, you may find creditors knocking at your door or calling your phone trying to collect. A Catonsville bankruptcy lawyer can help you file for Chapter 13 bankruptcy, giving you the chance to pay off your debts on a manageable schedule and eliminate some debts.

At The Law Office of Donald L. Bell, we are here to support you in the face of overwhelming debt. Attorney Donald Bell can provide you with valuable counsel and representation in a petition for Chapter 13 bankruptcy, breaking down the legal complexities behind the process and giving you agency in your repayment plan.

What Can Chapter 13 Bankruptcy Do for Me?

One of the main benefits of Chapter 13 bankruptcy is how it allows you to roll your secured and unsecured debts into one comprehensive repayment plan. In Chapter 13 bankruptcy, you make payments towards the most pressing debts first while whittling away at the others. For instance, if you have overdue mortgage payments, your repayment plan can get you caught up while also covering other obligations like credit card debt.

Your repayment plan may last anywhere from three to five years. Once you have finished making payments on this plan, your remaining debts without collateral will be discharged. Also, after you have petitioned for Chapter 13 bankruptcy, your creditors cannot seize your property or harass you while your case is ongoing.

Eligibility for Chapter 13 Bankruptcy

Chapter 13 bankruptcy is not a one-size-fits-all solution. This form of bankruptcy is best suited for people with reliable employment or a steady source of income. In order to get your repayment plan approved by a judge, you must demonstrate a clear ability to pay back what you owe to your creditors.

At The Law Office of Donald L. Bell, we can assess your eligibility for Chapter 13 and advise you of the options available to you. We can also help you come up with a realistic repayment plan to present to the trustee presiding over your case. During the process of filing for bankruptcy, the trustee will ask questions about your proposed plan and other details about your finances.

Our attorney can anticipate common questions asked by trustees and advise you on how to respond ahead of the meeting. Attorney Donald Bell can also speak on your behalf to make sure the meeting goes smoothly.

Regaining Financial Stability

Chapter 13 bankruptcy can give you a pathway to long-term stability and financial freedom. Losing your vehicle or your home can seriously disrupt your life, making repayment even more difficult. By filing for Chapter 13 bankruptcy, you can hold onto your assets without fear of repossession.

We have helped many people avoid foreclosure and keep their homes through this form of bankruptcy. Unlike Chapter 7 bankruptcy, which is more akin to a fresh start, Chapter 13 bankruptcy can help you maintain continuity in your life. By the time you successfully complete your repayment plan, you will be in a much better position to tackle your remaining debts, allowing you to preserve your property and pass down wealth to your family.

Meet With a Catonsville, Maryland Chapter 13 Bankruptcy Lawyer

If you are struggling to manage multiple debts at the same time, our Catonsville bankruptcy attorney can provide you with compassionate support and dedicated representation. At The Law Office of Donald L. Bell, we can walk you through the process of filing for Chapter 13 bankruptcy so that you can take control of your finances. Call us at 301-614-0535 or contact us online to get started with a free consultation.