Personal Bankruptcy
If you are struggling with the burden of unmanageable debt, the experienced bankruptcy attorneys at McNamee Hosea can help. For more than 25 years, our attorneys have been helping individuals and businesses find solutions to legal challenges.
To speak with a bankruptcy lawyer at our firm, contact our law offices in Greenbelt or Annapolis, Maryland. At your consultation, you will meet with a bankruptcy attorney who can advise you of your rights, explain the process of bankruptcy and answer any questions you may have about bankruptcy.
Although bankruptcy is not the right answer for everyone, it has helped millions of people like you find a new path to a brighter financial future. Through a Chapter 7 or Chapter 13 bankruptcy, you may be able to:
- Eliminate or reduce your debts
- Gain additional time to repay old debts
- Stop a home foreclosure
- Stop a wage garnishment
- Stop creditor harassment
Despite the changes to the U.S. Bankruptcy Code in 2005, most people who contact our office are eligible for relief through a Chapter 7 or Chapter 13 bankruptcy. At your consultation, we can discuss which option is best for you.
Chapter 7 vs. Chapter 13
When people think of bankruptcy, they typically think of a Chapter 7 bankruptcy. In a Chapter 7 bankruptcy, also known as a debt liquidation bankruptcy, people discharge most forms of consumer debts, including credit card bills, medical bills and other unsecured debts. Through exemptions and debt-reaffirmation, people are often able to save many of their most prized assets while discharging most debts.
A Chapter 13 bankruptcy, sometimes called a debt-restructuring bankruptcy, is essentially a debt repayment plan. Typically, the plan lasts for a period of three or five years. If retained as your counsel in a Chapter 13 case, we will submit a debt repayment plan to a bankruptcy court for approval. In accordance with the plan, you will make monthly payments and a trustee will distribute the funds to your various creditors in accordance with the plan. In most cases, a portion of the overall debt is discharged.
Put a Halt to Home Foreclosure Actions
A Chapter 13 bankruptcy is typically used by clients who have significant assets they want to protect from liquidation. A Chapter 13 bankruptcy is often used to help a client stop a home foreclosure. In both Chapter 7 and Chapter 13 cases, an automatic stay of further collection activity is placed on most creditors that halts collection calls, auto repossessions, home foreclosure and wage garnishments. Only a limited number of creditors, such as child support obligees, are exempt from the stay of further collection efforts.
Contact Us
Get help - not judgment. Our experienced bankruptcy and debt relief team is here to help. Contact our law offices in Greenbelt or Annapolis today for assistance.
*We are a debt relief agency. We help clients file for bankruptcy relief under the Bankruptcy Code.
