Odenton, Maryland Chapter 13 Bankruptcy Attorney

Knowledgeable Chapter 13 Bankruptcy Lawyer Representing Clients in Odenton, MD

Debts can be a major source of stress, especially when creditors start threatening to seize your property. However, you do not have to face this hardship alone. An Odenton bankruptcy attorney can help you explore your options to address these debts, no matter how overwhelming or impossible it may seem to tackle.

At The Law Office of Donald L. Bell, we have over 20 years of experience representing clients in consumer bankruptcy cases. In that time, Attorney Donald Bell has helped numerous Maryland residents out of difficult situations with skilled advocacy and sound legal advice. When you work with our firm, you will receive highly individualized guidance to help you through your case.

How Can Chapter 13 Bankruptcy Protect Me?

If you have been subject to harassment from creditors demanding repayment on your debts, you should know that Chapter 13 bankruptcy can provide you with relief. As soon as you enter a petition for Chapter 13 bankruptcy, an automatic stay will be issued against your creditors, meaning that they must cease all of their efforts to seize your assets.

This stay against your creditors can last for as long as your bankruptcy remains in effect. This means that you could be safe from collection efforts for three to five years, as long as you continue making payments during bankruptcy.

At The Law Office of Donald L. Bell, we will do everything we can to protect you from aggressive debt collection efforts. Our attorney can help you take swift legal action to start your bankruptcy petition, assisting with any of the relevant paperwork and filing.

What Does a Repayment Plan Need to Include?

Repayment plans are a feature unique to Chapter 13 bankruptcies. Instead of liquidating your assets like in Chapter 7 bankruptcy, Chapter 13 bankruptcy allows you to restructure your existing debts in order of priority, starting with your non-dischargeable debts like unpaid taxes as well as your collateral debts like your mortgage.

A good repayment plan should be within your means, leaving you with enough income to cover your necessities. However, it must also satisfy the authority presiding over your case, known as the bankruptcy trustee. As part of your petition, you will have to prove that you have the financial means to catch up on your debts within a reasonable time frame of three to five years. This is part of the reason why Chapter 13 bankruptcy is called "the wage earner's plan," as it is intended for people who have a consistent income to contribute to a repayment plan.

What Debts Can Be Discharged in Chapter 13 Bankruptcy?

Over the course of your repayment plan, you will be required to pay off some debts in full. At the end of your repayment plan, the lower-priority debts like your credit card bills can be discharged so that you will no longer be responsible for them. This can give you a fresh start so that you are in a better position to move forward financially.

Will I Have to Appear in Court for Chapter 13 Bankruptcy?

Before your repayment plan can be approved, you will have to appear in bankruptcy court before a judge. The purpose of this hearing is to determine if your repayment plan is realistic. At The Law Office of Donald L. Bell, we can represent you at this hearing and answer any questions asked of you by the judge.

Meet With an Odenton Chapter 13 Bankruptcy Lawyer

If you need help working toward a long-term solution for your debts, The Law Office of Donald L. Bell is ready to assist. Our Odenton bankruptcy attorney has the skills, resources, and experience to guide you through your case. Call us at 301-614-0535 or contact us online to schedule a free initial consultation today.