Maryland Chapter 13 Bankruptcy Attorney

Dan Guenther

Filing for bankruptcy is the process in which an individual or business makes an agreement with the bankruptcy court to pay off or discharge debts so that the individual or business may become debt free and free of creditor harassment and financial instability.

While bankruptcy periods can be stressful, they are meant to put the debtor back on track for a more financially secure future.
chapter 13 bankruptcy
Chapter 13 bankruptcy, also known as “reorganization” bankruptcy is filed when the debtor files a plan with the bankruptcy court about how debts owed will be paid off. Some debts need to be repaid in full, while others only partially or not at all. By filing for Chapter 13 bankruptcy, the debtor and court create a plan that lowers the payments owed to a feasible level, for a specified period of time until the debts are paid off.

Another benefit of filing for Chapter 13 bankruptcy is that creditors and collection agencies, by law, will not be allowed to contact you.

Chapter 13 bankruptcy differs from Chapter 7 bankruptcy in that in Chapter 7, assets are liquidized with proceeds given to the individual or business’s creditors. In Chapter 13 bankruptcy, however, assets are not liquidated, but debts are reorganized into smaller, more reasonable amounts that can be paid in a timely manner.

Does Liquidation of Assets Occur in Chapter 13 Bankruptcy?

No. In fact, filing for Chapter 13 bankruptcy will help ensure that your car, house and other possessions can be kept, provided that the debtor sticks to the plan outlined by the court throughout the course of the bankruptcy period.

Another benefit of filing for Chapter 13 bankruptcy is that creditors and collection agencies, by law, will not be allowed to contact you for money or file lawsuits against you during your bankruptcy period. You are protected by the bankruptcy court during this time period and you will need to have no contact with former creditors while during reorganization bankruptcy.

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If you or a loved one is facing economic and financial hardships, contact Maryland Chapter 7 and 13 bankruptcy attorney, Daniel J. Guenther, (301) 475-3106. With over 42 years of experience, The Law Offices of Daniel J. Guenther can help you determine if filing for bankruptcy is the right step for you. We have office hours at both our Leonardtown and Waldorf offices.

Nothing on this website is intended to be legal advice. Contact me for legal advice. Our past success is no guarantee of your success.

Maryland Chapter 13 Bankruptcy Attorney

Dan Guenther

About the Author

Mr. Guenther’s experience as a bankruptcy attorney is extensive. His representation includes individual, joint, and business bankruptcies. (Chapters 7, 11 and 13). Currently, he is counsel of record in over 150 bankruptcy cases presently pending in the U.S. Bankruptcy Court for the District of Maryland.

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Keep: Your Home, Your Car, Your Wages, Your Furniture

Call today to see if you quality for chapter 7 personal bankruptcy. You can have a fresh start.

(301) 475-3106

Law Offices of Daniel J. Guenther

Bankruptcy Lawyer

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