Baltimore, Maryland Foreclosure Defense Attorney

Compassionate Foreclosure Defense Lawyer for Clients in Baltimore

When your debts start to become unmanageable, you may struggle to keep up with regular mortgage payments. This can put your house at risk of foreclosure as you face mounting pressure from your creditors. However, even if your situation is dire, you may still be able to retain possession of your home. A Baltimore foreclosure defense lawyer can help you file for Chapter 13 bankruptcy so you can get caught up on your mortgage.

At The Law Office of Donald L. Bell, we have years of experience helping clients in consumer bankruptcy cases. When you work with our firm, you will receive individualized legal advice and guidance to protect your home from imminent foreclosure.

When Should I File for Chapter 13 Bankruptcy?

If you are facing foreclosure and struggling to keep your home, Chapter 13 bankruptcy can provide crucial relief. The key to successfully avoiding foreclosure through Chapter 13 is timing. It is essential to file before the foreclosure process has gone too far, ideally as soon as you start missing payments or anticipate difficulty in catching up.

Once your lender begins the foreclosure process, the situation becomes more complicated, and your options narrow. Filing Chapter 13 before the foreclosure sale date gives you a better chance to protect your home, stop the foreclosure, and reorganize your debt into a manageable plan.

Chapter 13 allows homeowners to create a repayment plan that typically lasts three to five years, depending on income and the amount of debt. The sooner you file, the more time you will have to catch up on mortgage arrears and avoid losing your property. Delaying your filing could result in losing the opportunity to resolve the issue and retain your home. It is critical to act quickly and consult with a bankruptcy attorney to determine whether this is the right course for you.

Getting an Automatic Stay From Foreclosure

One of the most immediate benefits of filing for Chapter 13 bankruptcy is the automatic stay. Upon filing, the court issues an automatic stay, which temporarily halts all foreclosure proceedings. This stay also stops creditors from pursuing other collection actions, such as wage garnishments, lawsuits, or harassing phone calls.

The automatic stay gives you the breathing room you need to work out a repayment plan and negotiate with your lender. However, this stay is not indefinite. It is essential to understand that you must adhere to the terms of the bankruptcy plan in order for the foreclosure to remain on hold.

If you fail to make the agreed-upon payments or fail to comply with the court's order, the lender can seek to lift the stay and resume the foreclosure proceedings. Working closely with your attorney will ensure that you maintain compliance and maximize the chance of keeping your home.

What Does Chapter 13 Bankruptcy Involve?

Chapter 13 bankruptcy involves creating a court-approved repayment plan, in which you repay all or a portion of your debts over a three- to five-year period. Unlike Chapter 7 bankruptcy, which may discharge most unsecured debts, Chapter 13 allows you to reorganize your debts and keep your property, including your home, provided that your plan is approved by the court.

In a Chapter 13 case, debts are categorized by priority. You will be required to catch up on past-due mortgage payments as part of your repayment plan, alongside other obligations. Unsecured debts, such as credit card bills or medical bills, are typically repaid after secured debts, and you may not have to pay them in full, depending on your financial situation.

Contact a Baltimore, MD Foreclosure Defense Attorney

At The Law Office of Donald L. Bell, we understand the importance of preserving your home in the face of financial hardship. To schedule a free initial consultation today, call our offices at 301-614-0535 or contact our Baltimore foreclosure defense lawyer.