When debt becomes a major problem in a person’s life, there is the option of filing for bankruptcy. Although individuals are not required to hire an attorney, it is recommended they do. Working with the Bankruptcy Attorney In University Place Wa, allows a debtor’s rights to be protected as they go through the process of pursuing bankruptcy.
Tips For Getting Started With the Attorney
Getting started with the Bankruptcy Attorney In University Place Wa involves first gathering all of the required documentation so the attorney can review it. The attorney will need to see income statements, bank account information, debt information, tax forms, and information on all owned assets. The more information a person can provide the attorney, the better equipped the attorney will be to help their client.
There is more than one option when it comes to filing for bankruptcy. Most people will attempt to file for Chapter 7 bankruptcy first. This type of bankruptcy can be settled fairly quickly, usually in as few as six months. A person can simply submit themselves to means testing and, if they pass, they can be approved for this bankruptcy. With this type of bankruptcy, the individual’s non-exempt assets are submitted so they can be sold to pay off the debts that are owed.
There is also an option for those who are in danger of losing their home to foreclosure. With Chapter 13 bankruptcy, a person will submit a repayment plan to the court, which will need to be approved. This repayment plan must be kept throughout the bankruptcy so it remains in good standing. The payments will be made through the courts and dispersed to the creditors that are owed.
Schedule an Appointment
It is imperative for individuals to learn all they can about their options for bankruptcy so they can make a sound choice for their financial needs. If you feel you are drowning in more debt than you can handle, call the office today so you can get started. They will be happy to talk with you and schedule a consultation appointment so you can meet with the lawyer to get started.