Tacoma Chapter 7 Lawyer

Understanding Liquidation Bankruptcy

Anyone who is under a great deal of debt, but has inadequate income to repay that debt in any capacity, could find financial relief under Chapter 7 of the U.S. Bankruptcy Code. Also known as liquidation bankruptcy, Chapter 7 bankruptcy allows a consumer to keep their exempt property. Unsecured debts, together with secured debts where the consumer wants to surrender the collateral, are then discharged. Washington Fresh Start can provide exceptional counsel and guidance in this particular bankruptcy process.

Qualifying for Chapter 7 Bankruptcy in Washington

In order to file under chapter 7 of the Bankruptcy Code, a consumer must first pass the means test. This test deducts your living expenses from your net income to determine your disposable income. If your disposable income is within the median for a household of your size in your area, you will qualify for liquidation bankruptcy. Chapter 7 bankruptcy allows you to eliminate your excessive debts quickly and to begin restoring your credit as soon as possible. You usually keep all of your property and assets, as long as they are properly exempted, so be sure to consult a bankruptcy attorney in Tacoma, Washington before jumping into the process of Chapter 7 bankruptcy.

Contact Washington Fresh Start

Your best interests lie in your choice of a bankruptcy lawyer. Do not hesitate to speak with Attorney Dave Yando to discuss your situation and learn what we can do to help you find financial freedom. Bankruptcy has many benefits and could be your means of finding relief from overwhelming amounts of debt. Washington Fresh Start can help you make the best decisions and guide you through each step of the means test and of Chapter 7 bankruptcy. Contact us at your earliest convenience to set up your initial consultation and learn more about how we can help!

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