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Tacoma Bankruptcy Lawyer | The Law Offices of Jason S. Newcombe
Experienced Tacoma Bankruptcy Lawyers
Tacoma bankruptcy lawyer serving all of Pierce County, WA. Get the debt relief you deserve. (855) 923-3283 . Get a free qualification analysis now!
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Our experienced Tacoma Bankruptcy Lawyers provide debt relief to families and individuals throughout Pierce County, Washington. In these difficult economic times, many people are overwhelmed with credit card, medical and other debts that they can no longer afford to pay. Our experienced Tacoma Bankruptcy lawyers will discuss your financial options with you and help you determine whether filing for Chapter 7 or Chapter 13 bankruptcy is your best financial options to discharge all or many of your debts.
The Law Offices of Jason S. Newcombe is a federal debt relief agency. We have many years of combined legal experience successfully handling Washington State bankruptcy cases. We offer a free office or phone consultation to discuss your legal and financial options.
Bankruptcy may be your best financial option if you:
1. Can no longer pay the minimum payments on your credit cards.
2. Must continue to charge on your credit cards every month to help pay the balance on other credit cards.
3. You have had your car repossessed and still owe on the remaining portion of the car loan after the car was sold or auctioned.
4. You wish to stop your house from being foreclosed.
5. You have medical bills you cannot afford to pay.
6. You are being constantly harassed by creditors and bill collectors.
7. You have been served with a lawsuit.
8. Your wages have been garnished or are about to be garnished.
9. Can have outstanding payday loans you cannot afford to repay.
10. You can afford to pay your basic and necessary living expenses or you can get rid of unwanted and unmanageable debts and bills.
Filing Chapter 7 or Chapter 13 Bankruptcy can discharge thousands and even hundreds of thousands of qualifying debt.
Bankruptcy is not a Failure. It is a Fresh Start. Get Your Financial Life Back on Track.
Call (855) 923-3283 for a Free Consultation
What Can I Expect if I File for bankruptcy In Tacoma?
Filing for Bankruptcy in Tacoma, Washington is a complex process that typically requires an experienced Tacoma Bankruptcy Lawyer.
Your First Meeting with a Tacoma Bankruptcy Attorney:
To help to determine if you should file for bankruptcy and which chapter of bankruptcy to file, you should bring the following documentation to your attorney consultation:
1. Your last 6 months of paystubs for all working household members
2. Your most recent bank statement for all open bank accounts.
3. If you are self-employed, your last six months of personal and business bank statements
4. Your last 2 years of filed tax returns. If you are self-employed and incorporated, also bring your last 2 years of business tax returns.
5. Copies of all lawsuit paperwork you have in your possession.
6. Bills from all of your creditors. However, if you hire our law firm, we will pull your credit report where most of not all of your debts will be listed.
7. Any foreclosure sale paperwork you may have.
Filing your Bankruptcy Petition and The Meeting of the Creditors.
Once you have provided your bankruptcy attorney with all of the above applicable information, you bankruptcy petition will be typed and completed listing all of your assets, debts, last 2 years of income, your current household income and expenses, and all other financial and business transaction you have made in the past several years.
If you are filling a Chapter 13 bankruptcy petition, you must make your first Chapter 13 Plan payment within 30 days after your bankruptcy petition is filed.
Approximately 30 days later, you will be required to appear at a hearing called the Meeting of the Creditors. If you reside in Pierce County, the hearing will be schedule in the federal courthouse in downtown Tacoma. Your attorney will appear with you and represent you at this hearing. In over 90% of consumer bankruptcy cases, none of the creditors appear. You will not appear before a bankruptcy judge, but instead a trustee who will ask you to verify the accuracy of all of the information you have listed in your bankruptcy petition. It is usually a brief hearing that usually lasts no more than 5 minutes. As long as you tell the truth, you will find that it is not a stressful hearing at all.
What happens after the Meeting of the Creditors and when does my case close?
In Chapter 7 Bankruptcy cases, your will typically receive a discharge of all of your qualifying debt about 90 days after your meeting of creditors and your case will close.
In Chapter 13 Bankruptcy cases, you will typically have your Chapter 13 Payment Plan confirmed within a few months after your Meeting of the Creditors. You typically do not have to attend your confirmation hearing. Your case will close and your remaining unsecured debts will be discharged at the end of your Chapter 13 Plan, which is usually between 36 and 60 months.
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We have a local downtown Tacoma office to serve you.
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Though creditors can be paid by taking over your property in a Chapter 7, most people who file a Chapter 7 are able to keep all their property. If you do not own property that is beyond what people consider necessities and you do not have the income to keep up with your debt, a Chapter 7 may be right for you. The laws that protect property in bankruptcy are known as exemptions. They are designed to allow you to wipe out debt while retaining enough property to rebuild your life in a stable and reasonable way. The necessities protected by bankruptcy exemptions may be beyond what you think of as absolutely necessary right now as you are in financial crisis. The exemptions protect 100% of your qualified retirement plan. Washington exemptions protect $125,000 in home equity. Many people are amazed how generous they are.
Because Chapter 7 is fairly easy and usually results in debt being discharged with no payment to creditors, you have to show that you are not abusing the system by filing Chapter 7. If you have earned over the median income for your household size in the last six months, you have to complete a means test to show you do not have enough income to pay your unsecured creditors. The means test deducts certain actual expenses and other expenses set by law from your average past six month income. If there is money left over, you are presumed to be abusing the bankruptcy system. Sometimes a debtor can overcome this presumption by showing special circumstances. The means test is far from perfect.
When you file a Chapter 7 bankruptcy, a trustee is appointed. You have to attend a hearing with the trustee a month after you file. The trustee investigates your case to make sure the law is being followed and to determine whether you have property that can be taken to pay your creditors. In the majority of cases, you only have to appear at this one hearing and the trustee can find no non-exempt assets. You may have to provide some additional information to the trustee to help the trustee’s investigation. In some cases the trustee finds non-exempt assets, sends a notice to creditors and pays them with the sale of the property.
As with any bankruptcy, the Chapter 7 stops debt collection immediately. If you are making payments on a car, house or other expensive item, you can keep it as long as you keep making the payments. You may have to sign a reaffirmation agreement which takes the debt outside of the bankruptcy discharge. Many times you can just keep paying and keep the property, though car companies can repossess the car even if you are current if you do not sign a reaffirmation.
Most Chapter 7 cases last only three months. Some cases are held open longer as the trustee investigates or sells assets. You receive a discharge after about three months even if the case is still open. The discharge permanently prohibits creditors from trying to collect a debt from you. Some debt can not be discharged, such as some back taxes, student loans, fines and domestic support obligations.