Columbia, MD Foreclosure Defense Lawyer

Foreclosure Defense Attorney for Homeowners in Columbia

As a homeowner, the threat of foreclosure can weigh heavily on your shoulders. However, when your finances are tight, trying to juggle other necessary expenses along with your mortgage can be extremely difficult. To protect your home, consider working with a Columbia foreclosure defense lawyer who can help you file for Chapter 13 bankruptcy.

At The Law Office of Donald L. Bell, we have helped numerous clients take control of their finances and protect their homes through bankruptcy petitions. As a solo practitioner, Attorney Donald Bell offers highly individualized legal services to all clients, so you can take comfort knowing that your case will not get handed off to a less experienced lawyer.

Why Chapter 13 Bankruptcy Works for Foreclosure Defense

Chapter 13 bankruptcy is one of the most effective tools for defending against foreclosure, especially for wage earners who may be facing temporary financial setbacks. The core advantage of filing Chapter 13 is the automatic stay, which immediately halts foreclosure proceedings the moment you file. This gives you immediate protection from your lender's attempts to take possession of your home. For many homeowners, the automatic stay provides essential relief, buying time to reorganize finances, catch up on overdue mortgage payments, and plan a path forward.

The automatic stay also prevents other collection actions, such as wage garnishments and creditor lawsuits, that could compound your financial struggles. This is especially crucial for wage earners, as it ensures that your income is not being garnished while you are trying to get back on track with your mortgage payments. Additionally, Chapter 13 provides a structured repayment plan that extends over three to five years, allowing you to manage outstanding mortgage arrears and other debts in a way that fits your financial circumstances.

How Can I Petition for Chapter 13 Bankruptcy?

Filing for Chapter 13 bankruptcy requires several steps that begin with meeting the eligibility requirements. First, you must complete a credit counseling course within 180 days before filing. This course is designed to help you understand your financial situation and explore alternatives to bankruptcy. Once you complete the counseling, you can begin compiling the necessary paperwork, which includes financial documents such as income statements, tax returns, and a list of your debts and assets. The more organized and accurate your paperwork, the smoother your filing will be.

After your petition is filed, you will attend what is known as a 341 meeting. At this meeting, you will meet with the bankruptcy trustee and any creditors who choose to attend. The trustee will ask questions to verify your financial situation and ensure the accuracy of your filing. Following the 341 meeting, there will be a confirmation hearing, where the court will review and approve your repayment plan. It is important to be prepared and work with an experienced bankruptcy attorney throughout this process to ensure everything is in order and to advocate for your interests.

Can I Modify My Mortgage Through Chapter 13?

One of the advantages of filing for Chapter 13 bankruptcy is the potential to modify your mortgage term with the help of an attorney. You may be able to extend the repayment period, reduce the interest rate, or even lower your monthly payment to make it more manageable.

Additionally, in certain cases, Chapter 13 may allow for "lien stripping," where a second mortgage or home equity loan can be eliminated if the value of the home is less than the first mortgage.

Meet With a Columbia, Maryland Foreclosure Defense Attorney

If you are concerned about an imminent or current foreclosure, reach out to The Law Office of Donald L. Bell. To schedule your free consultation, contact our Columbia, MD foreclosure defense lawyer or call us at 301-614-0535 today.