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Washington State Bankruptcy Lawyers

Puyallup Bankruptcy Attorneys

Puyallup bankruptcy attorneys handling all Chapter 7 and Chapter 13 cases. Can you qualify? Get a free case evaluation today!  (855) 923-3283.

Puyallup Bankruptcy Lawyers

Experienced Attorneys Providing Debt Relief in Puyallup and throughout all of Pierce County

Call Statewide (855) 923-3283

Puyallup, Washington is one of the largest and finest cities in Pierce County. It has a population of approximately 40,000 hard working people. Puyallup is the largest resident community in Pierce County east of Tacoma.

Unfortunately, many Puyallup residents find themselves with crippling debt that they cannot afford to pay. In many cases, unforeseen health expenses have caused Puyallup residences to get in more debt than they ever imagined they would have. Many Puyallup residents have used federal bankruptcy relief to discharge unmanageable debts to give them a fresh start and so they can continue to support their family without the worry and stress of being garnished or harassed by creditors.

Is Bankruptcy My Best Option?

If you are unable to pay all of your bills and keep a your house, apartment, and/or car loan without sacrificing the quality of life for you and/or your family, filing for bankruptcy is an option you should seriously consider.

In What Situations Do People File For Bankruptcy?

Filing for bankruptcy is common where there has been a job loss or medical problems where you haven’t been able to work for an extended being time. A failed business is another common reason people may file for bankruptcy. And sometimes, poor financial management can cause someone to file for bankruptcy.

What is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is commonly known as a “straight” bankruptcy, because it typically discharges (wipes out) all of the debtor’s unsecured debt.

What is Unsecured Debt?

Unsecured debt is debt without any collateral. A debt from a medical bill and credit card is probably the most common types of unsecured debts. Any civil lawsuits connected to these types of debt remains an unsecured debt. Residual debt from car repossessions and home foreclosures is also unsecured debt. Advanced pay loans and debts from apartment evictions are also unsecured debts that can be discharged through bankruptcy.

What kind of unsecured debt cannot be discharged in bankruptcy?

Recent income taxes cannot be discharged in bankruptcy. Student loans also cannot be discharged in bankruptcy unless the debtor can prove “undue hardship” which is very difficult to do in most cases. Our experienced Puyallup Bankruptcy Lawyers can explain when tax debts and student loans debts can be discharged.

What is a Secured Debt?

A secured debt is a debt with collateral attached to it. The most common secured debts are mortgages and car loans. You most list secured debts in a bankruptcy petition, but can usually keep your house and cars so long as you continue to pay on these loans.

Do I Have to Go To Court If I File for Bankruptcy?

Yes, you will have to attend at least, and usually no more than, one brief hearing called the Meeting of the Creditors. If you reside in Puyallup or anywhere in Pierce County, your hearing will be at the federal courthouse in downtown Tacoma. Your attorney will appear with you at this hearing. It is usually a very short hearing in front of a bankruptcy trustee (not a judge). It is not stressful hearing so long as you are honest about the information you disclosed in your bankruptcy petition.

When Do Creditors Stop Harassing Me?

Once you file your bankruptcy petition, an “automatic stay” is imposed against all of your creditors and they can now longer contact you. In most cases, they can only contact your attorney so long as your bankruptcy case remains open.

What is Chapter 13 Bankruptcy?

Chapter 13 Bankruptcy is typically for higher income individuals who have too much disposable monthly income to qualify for Chapter 7 Bankruptcy. A “Means Test” is applied in all consumer bankruptcy cases to determine whether the bankruptcy filer qualifies for Chapter 7 Bankruptcy or must file for Chapter 13 Bankruptcy.

Chapter 13 Bankruptcy filers must pay at least a portion of their debt, though typically under lower and manageable payments they can afford. A Chapter 13 Bankruptcy typically lasts for between 36 to 60 months and a discharge of the remaining debt, if any, occurs at the end of that period. By contrast, a Chapter 7

Bankruptcy typically lasts no more than 4 months and none of the unsecured debt is repaid; it is all discharged and the bankruptcy filer gets an immediate fresh start.

A Chapter 13 Bankruptcy can also be used to lower or restructure a car loan, catch up on mortgage payments, and in some cases, strip and eventually discharge a second mortgage.

Call our Pierce County bankruptcy and debt relief law offices to schedule a free consultation and financial evaluation with on of our experienced bankruptcy attorneys.

Call Toll-Free Statewide at (855) 923-3283 and start the path toward a fresh financial start!

Experienced Washington State bankruptcy lawyers

Puyallup, WA bankruptcy attorneys in Pierce County.

Help and information on Washington State bankruptcy law.

Talk to a WA State Bankruptcy Lawyer.

Chapter 7 versus a Chapter 13 – What does each plan do and not do and why might one be favorable over the other? (e.g. Chapter 7 is quick and easy with not debt limits. But you cannot file if you’re income is too high and you cannot pass the means test. Also Chapter 13 allows you to keep more property and save your house if you can still afford the mortgage payments.

Obviously, this is not an exhaustive list, but just some examples.

Chapter 7 versus Chapter 13

What kind of case should I file?

Filing a bankruptcy is one of your federal civil rights. There are many chapters of bankruptcy: there is Chapter 9 for cities that file bankruptcy, Chapter 12 for family farmers and fishermen, and Chapter 15 for cross-border corporate bankruptcies.

But for most people, there are Chapter 11, Chapter 13 and Chapter 7

Puyallup, WA Bankruptcy Attorneys. Pierce County Bankruptcy Lawyers.

Puyallup Chapter 7 Bankruptcy Attorneys

Serving debt relief clients throughout Pierce County, WA

Puyallup, WA Chapter 7 bankruptcy attorneys serving Pierce County. Feeling trapped? Talk to one of our Washington bankruptcy lawyers today!

Chapter 7: Liquidation Bankruptcy

Who can file a Chapter 7 Bankruptcy?

You can qualify for a chapter 7 bankruptcy if you do NOT have disposable income, and you have not filed a previous chapter 7 within 8 years, or a previous chapter 13 within 6 years. Disposable income is calculated by subtracting the amounts you spend on basic living expenses, like food, rent, gas, car payments, etc. from your net take-home pay.

If you have little or nothing left over, you probably qualify. There is often another step if you make more income than most people, which is called a Means Test. In that case, we need to calculate your income for the last six months, and use IRS standards and other deductions in tables to calculate your disposable income.

If you do not pass the means test, then you may need to do a chapter 13 or a chapter 11 case.  We will calculate your income and analyse your financial situation as part of our services.

How Long Does it Take?

A chapter 7 is the kind of bankruptcy most people think of when they think of bankruptcy. A chapter 7 normally only takes about four months from beginning to end. We collect information about your assets, income, and who you owe money to, along with other information, and prepare about 50-70 pages of federal court documents.

We analyse your situation to see what your options are, and if there may any risks to your property and other assets in a bankruptcy.

Can I Lose My Possessions?

In a Chapter 7 case nearly everything you own becomes property of the bankruptcy estate. But this isn’t as scary as it seems, because there are laws that provide exemptions which protect your house, car, and other possessions. Most people are able to keep everything they own.

If you have moved recently, you may have to use exemptions from the state you moved from, so be sure to tell our attorneys if this is the case., because exemptions can be very different from one state to another.

It is extremely important to tell your attorney about ALL of your possessions and assets so that we can give you the best advice possible.  Hiding assets in a bankruptcy can be a federal felony, with fines of up to $500,000, and up to 5 years in prison.

What Can a Chapter 7 Discharge?

A chapter 7 bankruptcy can discharge unsecured debt like credit cards, medical bills, payday loans, and lines of credit. It does not discharge secured debts like cars, but you can surrender a car back and no longer owe anything on it. Normally, if you give a car back, the lender can sell it at an auction and come after you for the difference!

You can elect to surrender your vehicle, house, jewelry, furniture, or other secured property, or reaffirm the debt with the court and continue payments in order to keep the items, or more rarely, redeem the item by financing the retail value of the item through another lender and having our office file papers with the court.

A Chapter 7 does not discharge fines, most taxes, most student loans, or debts arising from death or injury caused while under the influence of drugs, alcohol, or other substances.

Puyallup, WA Bankruptcy Attorneys. Pierce County Bankruptcy Lawyers.

Puyallup Chapter 13 Bankruptcy Attorney

Serving bankruptcy clients throughout Pierce County, WA

Puyallup, WA Chapter 13 bankruptcy attorney.

Looking for a Washington State Chapter 13 bankruptcy Lawyer?

Pierce County bankruptcy information.

Chapter 13: Court-Approved Payment Plan

A Chapter 13 is simply a court-approved payment plan that you create by working with one of our attorneys. It is available to people with disposable income, who can afford to pay some of their bills back. This is especially useful in saving houses from foreclosure, stopping child support garnishments, and stopping the IRS and other taxing agencies. The Court protects you while you pay your creditors back all or part of the amounts you owe.

How Long Does It Take?

A Chapter 13 takes between 3 and 5 years to complete, unless you can pay it off in full sooner. The Court protects you while you pay back missed mortgage payments, taxes, back child support, and other debts. You usually do not have to pay much or anything to your credit cards and medical bills in a Chapter 13 case.

Can I Lose My Possessions?

Unlike a Chapter 7, you usually keep all of your assets in a Chapter 13 case, and pay the equivalent of the non-exempt portion of your assets to your unsecured creditors. Let’s say you have a car that is worth $1,000 more than your vehicle exemptions allow.

You keep the car, but pay something a bit less than $1,000 to the unsecured creditors in exchange for keeping the car. This is somewhat simplified, but that is basically how it works.

Sometimes we have clients use the bankruptcy to stop a foreclosure, and as part of their bankruptcy plan, sell their house. That way they at least may be able to get some value out of the house instead of losing it all to a foreclosure.

We have excellent attorneys, and can help you figure out a creative way to get back on your feet financially. We offer a free consultation, where our attorneys will explain how a chapter 13 plan works, and what kinds of debts you can pay back-and which ones you might not have to!

What if I cannot qualify for a Puyallup Chapter 13 bankruptcy?

Chapter 11: Large Reorganization Case

A Chapter 11 bankruptcy is a reorganization bankruptcy for individuals or businesses that allows them to survive and pay their creditors back over time. This is the kind of bankruptcy that auto companies and airlines file to deal with economic downturns.

Also, if you are a regular consumer, but have more than $1,010,000 in secured debt (loans on houses, cars, etc.) and/or more than $337,000 in unsecured debt (credit cards, medical bills, etc.) AND you have income left over every month after paying your basic living expenses for food, mortgage, utilities, insurance, clothing, etc., then Chapter 11 may be your only bankruptcy option.

You will need to seek the advice of a specialist in that kind of bankruptcy, because our firm handles Chapter 7 and Chapter 13 cases only.

Puyallup, WA Bankruptcy Attorneys. Pierce County Bankruptcy Lawyers.