Lake Stevens Chapter 7
Do You Need a Chapter 7 Bankruptcy Attorney?
It’s time to consider bankruptcy in Lake Stevens WA, 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 7 Bankruptcy Lawyers Near Me in Lake Stevens 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
Lake Stevens Bankruptcy Attorney, The Bankruptcy Experts, 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 Lake Stevens 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.
The Chapter 7 Bankruptcy Laws are the most common choice for people who wish to declare them insolvent. In fact, when individuals talk about this subject, it is the bankruptcy as described under chapter 7 of the code of the United States of America. Declare bankruptcy as per Chapter 7 of Bankruptcy Laws is a systematic treatment. Specifically, after the introduction of the new laws in October 2005, now, it has ended up being necessary for you to pas a Means test and go through a credit counseling process from a government authorized credit-counseling firm. Finding an excellent and knowledgeable bankruptcy attorney especially if you live in Lake Stevens or in a nearby city. Means Test Initially, you have to pass a Means test, where all your earnings and essential expenditures are assessed. The means test includes subtracting the day-to-day essential expenditure (the expenses that you can not live without) from the overall earnings on a regular monthly basis. It is just if the output is less than the mean earnings of the state, you can declare bankruptcy under the Chapter 7 of US Bankruptcy Laws. However, in case, the output is more than the average earnings of the state, the bankruptcy court will ask you to file under chapter 13 of the code. Credit Counseling Before you go on and file under Chapter 7 Bankruptcy Laws, it is essential for you to go through a credit counseling procedure. The function of introducing this step is to assess the actual financial circumstance of the debtor. The credit therapy agency will look into the monetary details of the debtor and will attempt to help the debtor handle their finances and get it back on track, in addition to paying the debts that the debtor owe to various financial institutions. If there is any possibility to obtain the financial resources of the debtor managed, the debtor will not have the ability to declare bankruptcy under Chapter 7. In such case, the court will ask the debtor to file under chapter 13 bankruptcy. When To File Bankruptcy Under The Chapter 7 Bankruptcy Laws The debtor must file for bankruptcy under chapter 7 in the location where she or he is irreversible local. If the debtor is running a service in a specific location, she or he should file for bankruptcy in its principal place of business or primary possessions. In general, the primary function of the chapter 7 bankruptcy laws is to assist the debtor to obtain relief from all the debts that he or she currently owes. In this process, the bankruptcy court appoints a trustee, who further goes ahead with the treatment of liquidating all the possessions and properties of the debtor. The cash thus gathered is then used to settle the claims of the various lenders on top priority basis, if any. The of chapter 7 bankruptcy laws offer an opportunity for the debtors to obtain a fresh start for their financial life, as the bankruptcy code concerning the same, liquidates all the properties and homes of the debtors after permitting the exemptions, in order to settle the claims of the lenders in a nearby region. This way|By doing this|In this manner}, the court brings the wanted debt relief for the debtor.
Map of Lake Stevens WA
The Bankruptcy Experts
Lake Stevens Washington
Monday - Friday: 8:00am - 6:00pm
Saturday: 10:00am - 4:00pm