Gambrills Chapter 13 Bankruptcy Lawyer

Supportive Debt Relief Attorney Assisting Clients With Chapter 13 Bankruptcy in Gambrills, MD

Over time, debts can add up. You may reach a point where you become unable to reasonably pay off your creditors on time, which can have dire consequences. If you need help addressing your outstanding debts, a Gambrills Chapter 13 bankruptcy attorney can help you develop a sound repayment plan to protect your assets and property.

Bankruptcy proceedings are best handled with the assistance of an experienced lawyer. At The Law Office of Donald L. Bell, we have handled numerous bankruptcy cases in the years since our firm was established. Our firm has received glowing reviews for our clear guidance and strategic approach for tackling debts. Attorney Donald Bell is here to protect your best interests, prioritizing long-term solutions over short-term fixes.

Should You File for Chapter 13 Bankruptcy?

If you are considering filing for Chapter 13 bankruptcy, you should consider your financial situation. Chapter 13 bankruptcy is best for people who have the a consistent source of income and/or steady employment. This is because Chapter 13 bankruptcy involves restructuring your debts into a repayment plan, rather than liquidating your assets like in Chapter 7. If you need to protect your assets from repossession, such as your home or your car, filing for Chapter 13 bankruptcy can provide you with an avenue to pay off your arrearages.

Chapter 13 bankruptcy can address multiple types of debt, including:

• Mortgages
• Car loans
• Student loans
• Medical debt
• Payday loans
• Personal loans
• Tax debts

At The Law Office of Donald L. Bell, we understand how urgent your bankruptcy case may be. When you work with our firm, we will do everything we can to safeguard your assets.

The Automatic Stay in Chapter 13 Bankruptcy

As soon as you file for Chapter 13 bankruptcy, all of your creditors will have an automatic stay issued against them. This means that they must stop all of their attempts to collect on your debts, whether by contacting you or trying to repossess your property. This can give you the time and space you need to figure out how to address your outstanding debts.

The automatic stay will last for as long as your bankruptcy is in effect. Chapter 13 bankruptcy can last for three to five years. During that time, you will have to make regular payments towards a repayment plan. The repayment plan is designed to work within your means, calculated from your net earnings and taking your disposable income into account. If you become unable to keep up with your repayment plan due to unforeseen circumstances, be sure to discuss the issue with your attorney so that you can petition for a modification.

What Do I Need to File for Chapter 13 Bankruptcy?

In order to file for Chapter 13 bankruptcy, you will have to attend a mandatory credit counseling course. The purpose of this course is to ensure that you are fully aware of what bankruptcy entails and the options you have to take care of your debts.

Once you have completed the course, our attorney can help you compile the necessary documents you will need to file your bankruptcy petition with the court. These documents may include pay stubs, tax returns, and a list of all of your debts. We can walk you through the process to avoid unnecessary delays to your petition.

Meet With a Gambrills, Maryland Chapter 13 Bankruptcy Attorney

When your financial situation seems dire, you can benefit from the legal services of a Gambrills Chapter 13 bankruptcy lawyer. At The Law Office of Donald L. Bell, we provide counsel and representation for people overwhelmed with debt, working with clients one-on-one to devise a smart solution. Call our offices at 301-614-0535 or contact us online to set up a free consultation today.