University Park, Maryland Foreclosure Defense Attorney

Skilled Chapter 13 Bankruptcy Lawyer for Foreclosure Defense in University Park, MD

There are few more stressful things for a homeowner than the potential threat of foreclosure. If you have fallen months behind on your mortgage payments, you may face significant pressure from your lender to pay off what you owe or have your home seized. With other outstanding debts in your way, however, you might struggle to make the required payments on time. To protect your home, consider working with a University Park, MD foreclosure defense lawyer.

At The Law Office of Donald L. Bell, we can provide you with strong advocacy and legal advice to help you avoid foreclosure. We believe in the value of keeping your home in the family to promote generational wealth and long-term financial security.

How Can I Prevent Foreclosure on My Home?

If you have been given notice of foreclosure or you expect foreclosure in the near future, there are different options you can pursue for your protection. Our firm can help you file for bankruptcy to put a stop to foreclosure proceedings and regain control of your financial situation.

In his legal career of over 20 years, Attorney Donald Bell has helped numerous clients with issues of consumer bankruptcy law, including foreclosure defense. We will do everything in our power to help you keep your home through bankruptcy, taking the time to assess your financial circumstances so that we can better assist with your case. Above all else, we prioritize finding solutions that fit within your needs.

What Type of Bankruptcy Is Best for Foreclosure Defense?

If you are considering filing for bankruptcy to protect your home, you may be interested in a petition for Chapter 13 bankruptcy. Rather than liquidating assets to satisfy creditors, Chapter 13 bankruptcy lets you restructure your debts into a more feasible repayment plan. This option is best suited for homeowners who have steady employment or a consistent source of income.

The Importance of the Automatic Stay for Foreclosure Defense

When you file your petition for bankruptcy with the courts, all of your creditors will be subject to what is known as an automatic stay. This is an injunction that stops all efforts from outside parties to collect on your debts, whether through repossession, garnishment, or harassing phone calls. An automatic stay will prevent your home lender from moving forward with a foreclosure.

Chapter 13 bankruptcy is particularly effective at stopping foreclosure because of how long the automatic stay can last. If approved by the court, a repayment plan in Chapter 13 can last for a maximum of five years, giving you the time you need to catch up on late mortgage payments.

How Can a Repayment Plan Help Prevent Foreclosure?

If you are dealing with multiple debts in addition to a mortgage, such as a car loan, medical bills, credit card payments, or tax obligations, a Chapter 13 repayment plan can help to ease your financial burden.

The repayment plan will reorganize and restructure your debts into a monthly installment, where your priority debts will be paid off first. Any debts secured by collateral will have to be paid off in full, but if you have any remaining unsecured debts when the plan is complete, they can be discharged.

Meet With a University Park Foreclosure Defense Lawyer

At The Law Office of Donald L. Bell, we are here to provide you with devoted representation and counsel to help save your home from foreclosure. We can help you strategize for realistic solutions, keeping your needs in mind as we guide you through your petition for Chapter 13 bankruptcy.

When your home is on the line, do not wait to take action. To set up a free consultation, call our offices at 301-614-0535 or contact our University Park, MD foreclosure defense attorney online.