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Maple Valley Chapter 13 Lawyer

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy in Maple Valley 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 Maple Valley 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

Maple Valley 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 Maple Valley and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Maple Valley 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 strategy to your lenders, and it usually lasts 3 to five years. It uses to pay all or part of your debt from any future income you earn. You can use Chapter 13 to make up missed vehicle payments, pay back taxes you owe, prevent a bank from foreclosing on your home, keep non-exempt property that you consider 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 of your staying dis-chargeable debts would be released at the end of the payment period. The monetary amount assigned to creditors under a Chapter 13 bankruptcy need to be equal to the quantity they would have received if a Chapter 7 bankruptcy had actually been filed. To file Chapter 13 bankruptcy, you should have a "routine income" and non reusable earnings to apply to your payments. Especially when you live in Maple Valley WA or in a nearby city.

Normally, a chapter 13 bankruptcy is utilized when you wish to keep protected possessions, such as an automobile or house, where you have more equity in the secured properties 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 financial obligations.

A Chapter 13 bankruptcy enables you to make up your overdue payments in time and to renew your original payment contract. It might also be a better alternative when you have a valuable non-exempt home that you wish to keep. To keep a non-exempt property, you must pay the financial institution for the worth of the residential or commercial property.

An exemption limitation would apply to any equity you have in the property. Equity is just a difference in between the value of the property and exactly 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 just contains equity of $1,500. When you have a property that is held by a loan, the equity you own in that property is covered by your exemptions. That is if you are updated on your payments. Also, if you decide to keep making your regular payments on the loan, you can keep the home throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your creditor may choose to sell off that asset and then distribute the cash resulting from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off possession as a money payment. Current bankruptcy laws enable a couple filing together to each claim a complete set of exemptions, suggesting more property can be protected. 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 erase in bankruptcy include debts for personal injury/death caused by DWI/DUI, back child assistance, alimony, financial obligations connected to family support, student loans, income tax financial obligations within the last three 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 papers, unless you notify the creditor of your bankruptcy case. Aside from those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be discharged at the end of your decided upon bankruptcy period.

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Maple Valley Washington

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Saturday: 10:00am - 4:00pm

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