Let a Bankruptcy Attorney with 30 Years Expereince Evaluate Your Circumstances
Serving the areas of Tacoma and Pierce County
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.
If there were no benefits for filing for bankruptcy, no one would ever do it. Even though it seems frightful, and certainly stressful, there are advantages to be had when you file for bankruptcy, including, but not limited to:
- Automatic stay: When you file for bankruptcy, an immediate and automatic stay is created that strictly prohibits creditors from pursuing your owed debts.
- Discharge: Some or all of your debts may be discharged permanently. You will require a bankruptcy attorney to help ensure that all debts eligible for discharge are considered.
- Exemption: Most of your property may be considered exempt from collection or seizure. Homes , furnishings, and automobiles required for day-to-day life to continue are common assets listed under exemption.
- Credit restoration: If debts are discharged or paid off in a timely manner, many people who filed for bankruptcy actually see an increase in their credit score in the following years, assuming no more financial troubles arise.
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. 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. You may still qualify even if your income is above the median fi you meet various other requirements.
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
If you are in a position to be considering bankruptcy you are probably dealing with some pretty complicated problems. You don’t have to try to unravel the tangle legal and practical decisions you are facing alone. Contact a Tacoma bankruptcy attorney for a free initial legal assessment to learn more about your options and how attorney David Yando can help get your financial life back under control.
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.