Glen Burnie Attorneys Helping With Repayment Plans
If you have found yourself behind on your mortgage, monthly payments and credit card bills, you have nothing to be ashamed of. You simply need help. At Hassan, Hassan & Tuchman, P.A., our bankruptcy lawyers can help you through the tough times and put you on the path toward financial freedom. Please contact our Maryland law firm for a free initial consultation to discuss your debt relief needs and our bankruptcy practice.
The Chapter 13 Bankruptcy Option
There are two common types of personal bankruptcy: Chapter 7 and Chapter 13. Chapter 13 is a bankruptcy that allows people to keep their current assets and repay some or all the debts on more manageable terms. It is ideal for individuals with a regular income who are looking to get on a repayment plan that is suitable for their economic situation. Those who file Chapter 13 bankruptcy often prevent foreclosure or a short sale.
In addition to these specific benefits of Chapter 13, filing bankruptcy can:
- Stop harassing phone calls and debt collection letters
- Stop pending judgments
- Stop wage garnishment
- Stop current foreclosure proceedings
How Does Chapter 13 Bankruptcy Work?
In general, a Chapter 13 filing works by a debtor creating a repayment plan. This plan consolidates debt and sets up a payment schedule over a three- to five-year period. An assigned trustee will take the payments and distribute them to creditors. Under the repayment plan, debtors often pay only a percentage of what is actually owed.
Our Bankruptcy Services
At Hassan, Hassan & Tuchman, P.A., we will take the time to sit down with you and find out the scope and nature of your debt. We will address the most pressing issues right from the start, particularly foreclosures, garnishments, liens and creditor harassment. Our Baltimore Chapter 13 bankruptcy attorneys understand that debt is difficult, and they strive to treat you as a friend by being responsive to your needs.
Contact our bankruptcy lawyers today to learn more about Chapter 13 bankruptcy and whether that is the right debt relief option for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
