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Auburn Chapter 13 Lawyer

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Auburn if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.

Chapter 13 Bankruptcy Lawyers Near Me in Auburn WA

Experienced, professional bankruptcy attorneys understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.

Free Bankruptcy Consultation – Call Now (855) 997-4655

Auburn Bankruptcy Attorneys, The Bankruptcy Experts - Washington, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Auburn and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Auburn WA

You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.

A Second Chance

Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.

Bankruptcy AttorneyIn Chapter 13 bankruptcy, you propose a payment plan to your financial institutions, and it generally lasts three to 5 years. It offers to pay all or part of your debt from any future earnings you earn. You can utilize Chapter 13 to make up missed cars and truck payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt home that you consider valuable, stop interest from gaining on your tax debt, and far more. When you follow the regards to your agreement to repay your debts, all your staying dis-chargeable debts would be released at the end of the repayment period. The monetary quantity appointed to financial institutions under a Chapter 13 bankruptcy should amount to the amount they would have received if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a "routine source of income" and non reusable earnings to apply to your payments. Especially when you live in Auburn WA or in a nearby city.

Typically, a chapter 13 bankruptcy is used when you wish to keep guaranteed assets, such as a car or house, where you have more equity in the secured assets that you can protect using your bankruptcy exemptions. It's a reorganization of the financial obligations you owe your lenders that are not non-dischargeable debts.

A Chapter 13 bankruptcy permits you to make up your overdue payments with time and to restore your original payment arrangement. It might also be a better option when you have a valuable non-exempt home that you wish to keep. To keep a non-exempt home, you should pay the financial institution for the worth of the property.

An exemption limit would apply to any equity you have in the property. Equity is just a difference in between the value of the residential or commercial property and what you owe on it. For example, if you have a truck valued at $10,000 with a loan of $8,500, the truck just includes equity of $1,500. When you have a property that is held by a loan, the equity you own because home is covered by your exemptions. That is if you are updated on your payments. Also, if you opt to keep making your normal payments on the loan, you can keep the home throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your financial institution may choose to sell off that asset and then disperse the cash arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off property as a money payment. Existing bankruptcy laws allow a married couple filing together to each claim a full set of exemptions, meaning more home can be secured. All of this is common in Washington and throughout the region, and remember, the time to do something is now.

The non-dischargeable debts you can not remove in bankruptcy consist of financial obligations for personal injury/death brought on by DWI/DUI, back kid assistance, alimony, debts connected to household assistance, student loans, earnings tax financial obligations within the last 3 years in addition to any other tax debts, charges for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy documents, unless you notify the financial institution of your bankruptcy case. Other than those non-dischargeable debts, whatever else included in your bankruptcy case will be discharged at the end of your agreed upon bankruptcy duration.

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