Edgewood Foreclosure Defense Lawyer

Knowledgeable Foreclosure Defense Attorney Handling Cases in Edgewood, Maryland

Sometimes, a homeowner's budget may strain due to multiple sources of debt, leading to missed mortgage payments. When arrears go unpaid for too long, the bank or lender may move to begin foreclosure proceedings. If you need help taking control of your finances before or during foreclosure, reach out to an Edgewood, Maryland foreclosure defense lawyer today.

At The Law Office of Donald L. Bell, we provide strong counsel and representation for homeowners facing the possibility of foreclosure. Attorney Donald Bell has over 20 years of experience in consumer bankruptcy law, so you can rely on him as a source of guidance during your foreclosure case.

Can Consumer Bankruptcy Protect Your Home From Foreclosure?

Consumer bankruptcy can protect your home from foreclosure, though the level of protection depends on which chapter you file. Homeowners in Edgewood generally choose between Chapter 7 and Chapter 13. Both create an automatic stay that halts a pending foreclosure sale as soon as the case is filed.

The difference shows up in what happens next. Chapter 7 does not include a way to repay missed mortgage payments over time. Once that case ends, a lender can usually return to the foreclosure if the loan is still behind. For many families, Chapter 7 only delays the loss of the home.

Chapter 13 offers a longer-term solution. The repayment plan lets you work off the past-due balance in steady monthly amounts while keeping up with your current mortgage. An early review of your income and loan status can show whether this kind of protection is realistic for you.

Advantages of Chapter 13 Bankruptcy for Homeowners

The advantages of Chapter 13 bankruptcy for homeowners go beyond stopping a foreclosure sale. One major benefit is time. Instead of paying thousands of dollars in arrears all at once, you can spread that amount across three to five years. This gives your household budget a chance to recover after a job loss, medical emergency, or other setback.

Another benefit is simplicity. Many of your debts are combined into one monthly payment made to the trustee, who distributes the money to your creditors. Chapter 13 can also offer some protection to people who co-signed certain consumer debts with you, such as a family member on a personal loan. When the plan is complete, many remaining unsecured balances can be discharged.

What Types of Debt Can a Chapter 13 Bankruptcy Plan Address?

A Chapter 13 bankruptcy plan can address many types of debt beyond your mortgage. Car loans are a common example. If you are behind on your vehicle payments, the plan can help you catch up and keep the car you need for work and family life.

Tax debts are often included as well. Certain income taxes owed to the IRS or the state of Maryland receive priority and must be paid in full through the plan. The plan gives you several years to pay them, which can stop aggressive collection efforts like wage garnishment. Past-due child support and alimony are handled in a similar way.

Unsecured debts make up another large group. Credit card balances, medical bills, personal loans, and old utility bills can all be included. These creditors often receive only part of what they are owed, depending on your income and assets.

Contact Our Edgewood Foreclosure Defense Attorney Today

A foreclosure notice does not have to be the final word on your home. At The Law Office of Donald L. Bell, we help homeowners use Chapter 13 bankruptcy to stop a pending sale and create a realistic path toward getting current on their mortgage. Free consultations are available for consumer cases. Call 301-614-0535 or contact our Edgewood, MD foreclosure defense lawyer to learn where you stand.