Moses Lake Chapter 13 Lawyer
Do You Need a Chapter 13 Bankruptcy Attorney?
It’s time to consider bankruptcy in Moses Lake 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 Moses Lake 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
Moses Lake 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 Moses Lake 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 strategy to your lenders, and it normally lasts three to five years. It provides to pay all or part of your debt from any future earnings you make. You can utilize Chapter 13 to make up missed car payments, pay back taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt home that you consider valuable, stop interest from gaining on your tax debt, and a lot more. When you follow the terms of your agreement to repay your debts, all your staying dis-chargeable debts would be launched at the end of the payment duration. The monetary quantity assigned to lenders under a Chapter 13 bankruptcy should amount to the quantity they would have gotten if a Chapter 7 bankruptcy had been filed. To file Chapter 13 bankruptcy, you need to have a "routine source of income" and disposable earnings to apply towards your payments. Especially when you live in Moses Lake WA or in a nearby city.
Usually, 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 possessions that you can safeguard by utilizing your bankruptcy exemptions. It's a reorganization of the debts 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 reinstate your original repayment contract. 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 property, you should pay the lender for the value of the property.
An exemption limit would apply to any equity you have in the property. Equity is merely a distinction in between the value of the home and what you owe on it. For instance, if you have a truck valued at $10,000 with a loan of $8,500, the truck just contains equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own because residential or commercial property is covered by your exemptions. That is if you are current on your payments. Also, if you choose to keep making your regular payments on the loan, you can keep the residential or commercial property throughout and after your bankruptcy term is complete. If the equity is not covered by your exemptions, your creditor may decide to sell that possession then distribute the cash arising from the sale. In this case, you would be entitled to the worth of your exemption in the sold-off possession as a cash payment. Present bankruptcy laws enable a married couple filing together to each claim a full 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 eliminate in bankruptcy include financial obligations for personal injury/death triggered by DWI/DUI, back child assistance, alimony, financial obligations related to family support, student loans, income tax financial obligations within the last three years as well as 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. Aside from those non-dischargeable debts, everything else included in your bankruptcy case will be released at the end of your decided upon bankruptcy period.
Map of Moses Lake WA
The Bankruptcy Experts
Moses Lake Washington
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Saturday: 10:00am - 4:00pm