Potomac, Maryland Chapter 13 Bankruptcy Attorney

Supportive Bankruptcy Lawyer for Chapter 13 Cases in Potomac, MD

Trying to stay afloat while dealing debt can feel like an impossible task. Worse, your creditors might be making aggressive collection efforts and attempting to seize your property. When things seem dire, a Potomac, MD Chapter 13 bankruptcy lawyer can help you take control of your finances.

At The Law Office of Donald L. Bell, we provide comprehensive legal services for people considering bankruptcy. Attorney Donald Bell has been practicing law for more than 20 years, which allows him to help clients navigate Chapter 13 bankruptcy cases with confidence. Our firm will provide you with hands-on assistance throughout your case, helping you prepare all of the necessary documents.

Preserving Generational Wealth With Chapter 13 Bankruptcy

Our firm believes in the value of securing wealth and assets for future generations. You do not have to be massively wealthy to keep your house in the family and pass it down to your children or grandchildren. Filing for Chapter 13 bankruptcy can be a sound method to avoid foreclosure on your home even if you are not in a high income bracket.

When you file for Chapter 13 bankruptcy, all of your creditors must cease their attempts to repossess your property. This includes your house if you have fallen behind on mortgage payments. A repayment plan under Chapter 13 bankruptcy can last anywhere from three to five years, giving you the time to catch up on missed payments and address your other outstanding debts.

At The Law Office of Donald L. Bell, we will help you prioritize what is most important to you, creating a repayment plan that sets you up for a stable financial future.

Is Chapter 13 Bankruptcy the Right Option for Me?

Chapter 13 is often referred to as a wage earner's plan, because it is best suited for people who have a consistent source of income. Unlike Chapter 7 bankruptcy, which involves quickly discharging your unsecured debts, Chapter 13 instead allows you to restructure your debts so that you can may payments over a longer period of time.

One major advantage of Chapter 13 bankruptcy is that it allows you to avoid major disruptions to your life. As long as you make regular contributions to the repayment plan, you can keep your house, your car, and other debts secured by collateral. By the time you complete your Chapter 13 repayment plan, most or all of your remaining unsecured debts will be eliminated.

Will Chapter 13 Bankruptcy Affect My Credit Score?

Filing for Chapter 13 bankruptcy will appear on your credit report for a certain number of years, but in spite of this, many people are able to lead financially stable lives after completing the bankruptcy process.

Additionally, you should know that your bankruptcy will appear on any background check run by a current or prospective employer. Ideally, you should have a short answer prepared for questions related to your bankruptcy petition. For instance, you could relay it as a story about overcoming financial adversity after a job loss or a medical emergency.

Our attorney can advise you on what to expect after filing for bankruptcy and how to prepare for any potential complications.

Meet With a Potomac Chapter 13 Bankruptcy Lawyer Today

Are you struggling to overcome debt? At The Law Office of Donald L. Bell, we can assess your financial situation and help you take steps to safeguard your future. Attorney Donald Bell can provide you with individualized legal services to help address your most critical needs and make sure you can get your finances back on track.

Do not hesitate to reach out to us if you are considering bankruptcy. We offer free consultations in consumer bankruptcy cases. Call us at 301-614-0535 or reach out to us to get started today.