Get out of Debt with a Good Chapter 13 Bankruptcy Lawyer

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Get out of Debt with a Good Chapter 13 Bankruptcy
Lawyer
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• Every year there are thousands of Americans who
  file for bankruptcy protection. It is not
  surprising as a tepid economy leaves millions of
  Americans struggling with their credit card bills
  and mortgage payments.
•  
• There are basically two types of consumer
  bankruptcy, Chapter 7 bankruptcy and Chapter 13
  bankruptcy. They are both designed to offer debt
  relief, though the path taken by them is
  different.
•  
• In the following section we shall deal in detail
  with Chapter13 bankruptcy and find out how a good
  lawyer in Maryland can help you wipe off your
  debts and make a fresh start.

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Chapter 13 Bankruptcywhat is it?

• Chapter 13 bankruptcy is a type of bankruptcy
  proceeding which allows the debtor to reorganize
  his or her debts under the supervision and
  approval of the courts.
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• A plan is laid out which enables the debtor to
  reorganize his/her debts into an affordable
  monthly repayment plan. The debt is usually
  planned to be repaid within a period of 3 to 5
  years.

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How Chapter 13 Bankruptcy differs from Chapter 7
Bankruptcy

• Chapter 7 is designed to eliminate unsecured
  debts such as medical bills, credit card bills
  etc.
•  
• Chapter 13 bankruptcies unlike Chapter 7
  bankruptcy do not lead to the outright
  foreclosure of an individuals or businesss
  assets.
•  
• In other words, Chapter 13 bankruptcy allow a
  debt-laden person with a considerable amount of
  income to put forward to the court an orderly
  plan to pay back the debts within a few years.
•  
• Thus Chapter 13 bankruptcy has significant
  advantages over other form of bankruptcy like
  Chapter 7 or Chapter 11 bankruptcy. Chapter 7
  bankruptcy results in foreclosures where as
  Chapter 11 bankruptcy often leads to expensive
  and complicated restructuring of debts.
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Get your Life Back on Track

• Any type or form of debt and an inability to pay
  it causes acute mental agony and pain. Worsening
  economic condition and the humility and stigma
  attached with non-payment of debt is mentally
  destabilising.
•  
• Filing for bankruptcy protection is one of the
  best ways of getting your life back on track by
  making a fresh start.
•  
• However, people are often confused about whether
  Chapter 13 or Chapter 7 bankruptcy is most
  suitable for them. Those living in Maryland can
  consult a good bankruptcy lawyer to find out the
  right fit for them.
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• Good bankruptcy lawyers belonging to a reputable
  and established firm like Law Office of Rowena N.
  Nelson, LLC can help you make a better and more
  informed decision.
•  
• You can visit its website www.rnnlawmd.com or
  give them a call at 443.203.1208 to know more
  about different types of bankruptcies and how to
  file for it.

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Prince Georges County Bankruptcy Attorney

• The recent economic meltdown and financial
  turbulence has brought a lot of hardships for
  common American citizens. Millions of Americans
  have fallen behind their credit card bills and
  mortgages.
•  
• Under such circumstances, an unexpected medical
  expenses or a job loss can precipitate the
  financial downward spiral.
•  
• It, however, is no gloom and doom scenario
  altogether for people reeling under severe debt
  obligations. Prince George County has some real
  good bankruptcy attorney who can get you out of
  your financial nightmare.

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• These attorneys have the expertise and experience
  of finding novel ways of easing the financial
  worries of hardworking people. They can help you
  decide whether Chapter 7 or Chapter 13 bankruptcy
  is more apt for you.
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• You can also personally visit their office or
  call them at the number mentioned on their
  website to discuss non-bankruptcy debt solutions.

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Conclusion

• Chapter 13 of bankruptcy law offers a lot of
  advantages over other types of bankruptcy
  filings. You are allowed a decent time period to
  settle your debt without the sword of foreclosure
  dangling all the time over your head
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• Law Office of Rowena N. Nelson, LLC has some of
  the best Chapter 13 bankruptcy lawyer in
  Maryland. You can personally visit their office
  located at 1801 McCormick Drive, MD Suite 150,
  Largo MD 20774.

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