Is Bankruptcy Right for You?
Contrary to what many people assume about the process, bankruptcy is a
good thing and can be extremely beneficial for individuals who are unable
to repay their debts. Bankruptcy was specifically designed by the federal
government to be a way out for individuals who have suffered an unexpected
accident or illness, who have lost their job or other source of income,
or who are simply suffering from poor financial planning. Good and responsible
people file for bankruptcy just as much as anyone else. If you are struggling
under a great deal of debt and have no means of repaying that debt, then
bankruptcy may very well be your way of getting a fresh financial start.
Qualifying for Bankruptcy
Washington Fresh Start can provide the counsel and guidance that you need
in order to decide whether or not you should pursue bankruptcy. There
are a number of qualifications that must be met in order to ensure that
you are even eligible to file in the first place. Anyone hoping to pursue
liquidation bankruptcy under
Chapter 7 must first pass the means test. This test deducts your living expenses
from your income to determine how much disposable income you have. If
your disposable income is below the median for a household of your size
in your area, then you may be able to protect your property and have your
credit card, medical bills, and other unsecured debts discharged through
Chapter 7 bankruptcy.
People who have some disposable income but are still unable to repay their
debts in a reasonable amount of time may be eligible for
Chapter 13 bankruptcy. Under this chapter of the U.S. Bankruptcy Code, you will be
able to set up a repayment plan with your creditors and continue making
affordable payments over the next three to five years. Once your repayment
period is up, your remaining debt is discharged. Anyone who is considering
bankruptcy or who wants to learn more about their options for debt relief
can benefit from consulting a
Tacoma bankruptcy lawyer at Washington Fresh Start. Attorney David Yando has more than 30 years
of debt relief and bankruptcy experience and can provide the counsel that you need.
Speak with a Bankruptcy Lawyer in Tacoma Today
Washington Fresh Start is a client-oriented firm that focuses on your personal
needs and your best interests. More than anything, our goal is to help
you find the means to live debt free without the stress and worry of creditor
harassment. We have broad experience in many bankruptcy practice areas
and are able to advise you on all available solutions.
Contact us today to learn what steps you can take to get a fresh start and find relief
from your overwhelming debts.