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Bothell Chapter 13 Lawyer

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Bothell 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 Bothell 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

Bothell 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 Bothell and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Bothell 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 repayment plan to your creditors, and it normally lasts 3 to 5 years. It uses to pay all or part of your debt from any future earnings you make. You can use Chapter 13 to make up missed cars and truck payments, repay taxes you owe, avoid a bank from foreclosing on your home, keep non-exempt home that you deem valuable, stop interest from gaining on your tax financial obligation, and far more. When you follow the regards to your contract to repay your financial obligations, all of your staying dis-chargeable financial obligations would be released at the end of the payment period. The financial amount assigned to financial institutions under a Chapter 13 bankruptcy must be equal to the amount they would have received if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you must have a "regular source of income" and disposable income to use to your payments. Especially when you live in Bothell WA or in a nearby city.

Typically, a chapter 13 bankruptcy is used when you want to keep guaranteed possessions, such as an automobile or house, where you have more equity in the protected possessions that you can secure by using your bankruptcy exemptions. It's a reorganization of the financial obligations you owe your creditors that are not non-dischargeable debts.

A Chapter 13 bankruptcy allows you to make up your past due payments in time and to restore your initial payment arrangement. It might also be a much better choice when you have a valuable non-exempt home that you want to keep. To keep a non-exempt home, you need to pay the financial institution for the value of the property.

An exemption limit would apply to any equity you have in the residential or commercial property. Equity is just a distinction in between the worth of the home and what you owe on it. For example, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck only consists of equity of $1,500. When you have a home that is held by a loan, the equity you own because home is covered by your exemptions. That is if you are current on your payments. Likewise, if you choose to keep making your typical payments on the loan, you can keep the property throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your financial institution may choose to sell that asset then disperse the cash resulting from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a money payment. Existing bankruptcy laws permit a couple filing together to each claim a complete set of exemptions, suggesting more home can be safeguarded. 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 include financial obligations for individual injury/death brought on by DWI/DUI, back kid support, alimony, debts associated with household assistance, trainee loans, earnings tax financial obligations within the last three years along with any other tax financial obligations, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you notify the financial institution of your bankruptcy case. Aside from those non-dischargeable financial obligations, everything else consisted of in your bankruptcy case will be released at the end of your agreed upon bankruptcy period.

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Bothell Washington

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