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Edgewood Chapter 13 Lawyer

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Edgewood 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 Edgewood 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

Edgewood 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 Edgewood and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Edgewood 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 typically lasts three to five years. It offers to pay all or part of your financial obligation from any future earnings you make. You can utilize Chapter 13 to make up missed car payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you deem valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the terms of your agreement to repay your debts, all your remaining dis-chargeable financial obligations would be launched at the end of the repayment duration. The monetary quantity designated to lenders under a Chapter 13 bankruptcy should amount to the amount they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you must have a "regular source of income" and non reusable income to apply to your repayments. Especially when you live in Edgewood WA or in a nearby city.

Normally, a chapter 13 bankruptcy is utilized when you want to keep guaranteed possessions, such as a cars and truck or house, where you have more equity in the protected properties that you can safeguard by using your bankruptcy exemptions. It's a reorganization of the debts you owe your lenders that are not non-dischargeable debts.

A Chapter 13 bankruptcy allows you to make up your overdue payments in time and to renew your original repayment agreement. It might likewise be a better option when you have a valuable non-exempt property that you want to keep. To keep a non-exempt residential or commercial property, you must pay the lender for the value of the property.

An exemption limit would apply to any equity you have in the property. Equity is simply a distinction between the value of the home and what you owe on it. For instance, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck just includes equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own because property is covered by your exemptions. That is if you are updated on your payments. Also, if you opt to keep making your typical 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 creditor might opt to sell that possession then disperse the money resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off asset as a money payment. Present bankruptcy laws enable a married couple filing together to each claim a complete set of exemptions, indicating more property 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 financial obligations you can not remove in bankruptcy consist of financial obligations for individual injury/death brought on by DWI/DUI, back child assistance, alimony, debts connected to family support, trainee loans, income tax debts within the last 3 years along with other tax financial obligations, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you notify the financial institution of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else consisted of in your bankruptcy case will be released at the end of your agreed upon bankruptcy duration.

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Edgewood Washington

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Saturday: 10:00am - 4:00pm

Sunday: Closed

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