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National Harbor Chapter 13 Bankruptcy Attorney

Compassionate Chapter 13 Bankruptcy Lawyer for Clients in National Harbor, Maryland

A 2024 study by Bankrate found that 59 percent of Americans are uncomfortable with their level of emergency savings. Overdue debts and loan payments can put a strain on households that are already struggling with day-to-day living expenses. If you are struggling to take care of multiple sources of debt, you could consider filing for Chapter 13 bankruptcy to get much-needed relief.

At The Law Office of Donald L. Bell, we know how stressful it can be to see your debts continue to pile up. We represent residents of National Harbor in bankruptcy matters, helping clients tackle their debts through individualized strategies and clear legal guidance. When you work with our firm, your case will be handled with diligence and care.

The Benefits of Chapter 13 Bankruptcy

When you fall behind on debt payments, you may be harassed by creditors threatening to seize your property. As soon as you file for Chapter 13 bankruptcy, your creditors are legally required to stop these collection efforts. This can give you some peace of mind and breathing room as you catch up on your late payments.

Additionally, Chapter 13 bankruptcy allows you to retain control over your assets and property. This can be quite significant for maintaining continuity in your daily life. Even if you are currently behind on your car loan or facing foreclosure on your house, a sound repayment plan can let you keep both while working to pay off your priority debts. At The Law Office of Donald L. Bell, we can sit down with you to discuss if Chapter 13 bankruptcy is right for you.

How Can I File for Chapter 13 Bankruptcy?

The process of filing for Chapter 13 begins with attending a mandatory credit counseling course. The purpose of this course is to inform you of all of the options available to you before you file for bankruptcy. Upon completion of the course, you will have to prepare some relevant financial documents, including a list of all the debts that you owe.

Once you have done all of the preliminary work, you can file for Chapter 13 bankruptcy with the bankruptcy court. From this point, you must develop a repayment plan that addresses how you will pay off your debts in order of priority. A repayment plan can last anywhere from three to five years, so it is important that you propose a plan that is within your means. Our attorney can help you draft your plan according to your income level.

When you have finished drafting your repayment plan, you will have to attend what is known as the "341 meeting," where your bankruptcy trustee and creditors can ask questions about your proposed plan. Then, a final confirmation hearing will be held in bankruptcy court to determine if the plan is feasible. If approved by the court, the repayment plan will go into effect.

How Will Filing for Chapter 13 Bankruptcy Affect Me?

Filing for bankruptcy will impact your credit score, though it is entirely possible to recover financially despite the temporary setback. You should also know that filing for Chapter 13 bankruptcy will appear on background checks run by employers. While this may invite some questions, you can prepare a statement explaining your financial struggles and how you overcame them with smart planning.

At The Law Office of Donald L. Bell, we can answer questions you may have about your petition for bankruptcy. With over 20 years of experience, Attorney Donald Bell has helped clients from many different financial backgrounds.

Meet With a National Harbor, MD Chapter 13 Bankruptcy Lawyer Today

At The Law Office of Donald L. Bell, our National Harbor bankruptcy attorney is here to support you through your case. Call our offices at 301-614-0535 or contact us online to schedule a free consultation today.

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