Edmonston, Maryland Foreclosure Defense Attorney

Reliable Foreclosure Defense Lawyer Representing Homeowners in Edmonston, MD

The threat of foreclosure can be incredibly stressful for homeowners. If you have fallen behind on your mortgage and other debts, filing for bankruptcy may be in your best interests. An Edmonston foreclosure defense attorney can help you take steps to protect your home, working closely with you to protect your interests.

At The Law Office of Donald L. Bell, we have more than 20 years of experience in consumer bankruptcy law. Since our firm was established, we have helped clients from different financial backgrounds, working to reach practical solutions for complex problems. When you work with us, we will do everything we can to save your home from foreclosure.

When Should I File for Bankruptcy to Prevent Foreclosure?

In general, you should be proactive about filing for bankruptcy before you receive a foreclosure letter from your lender. If you plan ahead, you may be able to stop the foreclosure proceedings before they begin.

What Type of Bankruptcy Is Best for Foreclosure Defense?

At the outset, you may be intimidated trying to figure out how to file for bankruptcy or which type of bankruptcy is best for you. If you want to keep your home and maintain control over your assets, your best option is to pursue Chapter 13 bankruptcy.

The main benefit of Chapter 13 bankruptcy in foreclosure defense is that it allows you to keep making payments on your mortgage without the threat of losing your home. This form of bankruptcy is best utilized by homeowners who have a stable income that allows them to make regular contributions to a repayment plan.

What Is a Repayment Plan?

A unique feature of Chapter 13 bankruptcy is the ability to consolidate your debts into a repayment plan. In a repayment plan, debts are ordered from highest to lowest priority, which will include any late payments on your mortgage.

A repayment plan is intended to be completed in three to five years based on your disposable income. If, for some reason, you cannot make a regularly scheduled payment on your plan, be sure to contact a bankruptcy lawyer immediately. If you fail to make a payment on time, your repayment plan could be canceled, exposing you to the threat of foreclosure again.

Protection From Lenders in Chapter 13 Bankruptcy

One of the main benefits of filing for Chapter 13 bankruptcy is that it issues an automatic stay against all of your creditors, including the bank or lender for your mortgage. In practice, the automatic stay prevents foreclosure proceedings from moving forward. It can also stop other creditors from seizing collateral to collect on outstanding debts.

Why Should I Work With a Bankruptcy Attorney During Foreclosure?

If you are facing foreclosure, you might feel overwhelmed with responsibilities. Filing for bankruptcy can alleviate the pressure on you, but it is not an easy process. At The Law Office of Donald L. Bell, we can assist with your bankruptcy petition before or during your foreclosure. Our firm can:

Help you prepare the necessary financial documents to file your petition through bankruptcy court
Work with you to develop a sound repayment plan within your financial means
Address questions posed by the bankruptcy trustee in a meeting of creditors
Advocate for the feasibility of your plan during the final hearing in bankruptcy court
Address any questions that come up as you fulfill your repayment plan

Contact an Edmonston Foreclosure Defense Lawyer

If you have any questions about how you can avoid foreclosure through bankruptcy, do not hesitate to reach out to our firm. The Law Office of Donald L. Bell can provide you with skilled guidance and counsel to address your financial needs. To schedule a free consultation today, contact our Edmonston foreclosure defense attorney online or call our offices at 301-614-0535 today.