Longview Chapter 13 Lawyer
Do You Need a Chapter 13 Bankruptcy Attorney?
It’s time to consider bankruptcy in Longview 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 Longview 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
Longview 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 Longview and the surrounding areas.
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.
In Chapter 13 bankruptcy, you propose a repayment plan to your financial institutions, and it normally lasts three to five years. It offers to pay all or part of your financial obligation from any future earnings you make. You can use Chapter 13 to make up missed out on automobile payments, pay back taxes you owe, prevent a bank from foreclosing on your house, keep non-exempt residential or commercial property that you consider valuable, stop interest from gaining on your tax financial obligation, and much more. When you follow the regards to your contract to repay your financial obligations, all your staying dis-chargeable financial obligations would be launched at the end of the payment duration. The monetary quantity designated to financial institutions under a Chapter 13 bankruptcy should amount to the quantity they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you should have a “routine source of income” and disposable income to apply towards your payments. Especially when you live in Longview WA or in a nearby city.
Typically, a chapter 13 bankruptcy is used when you want to keep safe possessions, such as a vehicle or home, where you have more equity in the protected properties that you can secure 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 enables 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 property, you need to pay the lender for the value of the home.
An exemption limit would apply to any equity you have in the property. Equity is just a distinction in between the worth of the property and exactly 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 consists of equity of $1,500. When you have a home that is held by a loan, the equity you own in that property is covered by your exemptions. That is if you are current on your payments. Likewise, if you opt to keep making your regular 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 may opt to sell off that asset then distribute the money arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off possession as a cash payment. Current bankruptcy laws enable a married couple filing together to each claim a full set of exemptions, indicating 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 consist of debts for individual injury/death caused by DWI/DUI, back kid support, alimony, financial obligations related to family assistance, trainee loans, earnings tax financial obligations within the last 3 years as well as other tax debts, penalties for traffic tickets, criminal restitution, and any debts you forget to list in your bankruptcy documents, unless you notify the creditor of your bankruptcy case. Besides those non-dischargeable financial obligations, everything else included in your bankruptcy case will be released at the end of your decided upon bankruptcy period.
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The Bankruptcy Experts
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