Baltimore Bankruptcy Lawyer

Our Baltimore Lawyers Guide Debtors Through Chapter 13 Bankruptcy

Get Relief From Overwhelming Debt

Almost everybody has some debt. When your debt becomes overwhelming, however, it may be time to consider bankruptcy. Maryland and federal laws allow even high-income-earning debtors to file for Chapter 13 bankruptcy.

Since the founding of  the Baltimore-based firm LeViness, Tolzman & Hamilton in 1980, bankruptcy laws have grown more complex. Sweeping legislation passed in 2005 made bankruptcy more difficult by creating new means testing, counseling and tax return requirements for debtors. Yet, because of the recent economic downturn, a more sympathetic environment has developed in Maryland’s bankruptcy courts. Our lawyers remain on top of the constant changes in the laws, opinions and climate that affect debtors’ rights. With these issues in mind, we assess your financial circumstances to determine whether a Chapter 13 bankruptcy is the right choice for you.

Debt Repayment Under Chapter 13 Bankruptcy

A Baltimore bankruptcy lawyer may recommend Chapter 13 bankruptcy if you earn too much income to qualify for Chapter 7 or if you are likely to benefit more from this type of debt-reorganization bankruptcy.

Chapter 13 allows for repayment of debts under a court-approved plan. We negotiate a fair plan that allows you to successfully pay your debts over a specified period — typically three or five years. Somewhat like debt consolidation, you make one payment to the court each month and the money is distributed to your creditors according to the plan. The installment amounts are based on your income and are generally a fraction of your total debt. Once you have satisfied the plan, you are released from the remainder of the debt.

Automatic Stay Stops Creditor Harassment

Upon filing your Chapter 13 petition, the court issues an automatic stay that prohibits your creditors from contacting you or trying to collect on your debts in any other way. The bank is barred from starting foreclosure proceedings or must cease further action if your home is already subject to foreclosure.

Our lawyers negotiate with financial institutions holding your home mortgages and auto loans to reach reaffirmation agreements. We seek to alter the terms of your current loans so you can repay delinquent amounts and retain possession of your home or motor vehicle.

Baltimore Bankruptcy Lawyers at LeViness, Tolzman & Hamilton Guide Debtors Through Chapter 13 Bankruptcy

Learn whether Chapter 13 bankruptcy is the right choice for you. Call LeViness, Tolzman & Hamilton at 800-547-4LAW (4529) or contact our firm online to schedule your free consultation with an experienced Baltimore bankruptcy lawyer at our firm.