Making a decision to declare bankruptcy requires a lot of thought. Before petitioning the court, you should understand the process in full. You should also be fully aware of the costs and whether it truly is your best financial option.
If you're facing unmanageable debt, bankruptcy may very well be the solution you've been looking for. You can save your home from foreclosure, protect your vehicle from repossession, and eliminate debt from credit cards, payday loans, and medical bills. You can also put a stop to harassing phone calls from creditors and collection agencies.
Our Bellevue bankruptcy lawyers assembled these frequently asked questions to provide you with some basic information. If you decide you want to fully explore this options, or see if you qualify for bankruptcy, contact us for a free consultation.
Bellevue Bankruptcy FAQIf you don't find answers to your questions, please don't hesitate to call.
There is no way to accurately answer this question without looking at your financial situation. There are apparently some Bellevue bankruptcy attorneys that advertise very low prices, but the price only covers the filing fee which means you'll end up paying a lot more. We offer low flat fees based on the amount of work we anticipate and eliminates the need to worry about unexpected fees at a later date.
Chapter 7 bankruptcy – 10 years. Chapter 13 bankruptcy – 7 years.
You can, but we urge you to wait one year after filing.
No. All student loans are equal in regards to bankruptcy.
No. In fact, most people are able to keep both their car and their home as long as they stay current with payments. If you decide to refinance your home, you should do so through a different bank.
Chapter 7 takes about 3 to 4 months, and Chapter 13 takes about 3 to 5 years.
There are multiple variables that must be considered to figure out what you'll end up paying. Your Bellevue bankruptcy lawyer will administer a means test to determine your income. They then subtract the amount that's allowed, which will determine how much money you're required to pay unsecured creditors, if any. IRS debt is then added along with home mortgage arrears, penalties, vehicle debt, and any unsecured debt you want to retain. Finally, we add your trustee fees and any remaining attorney's fees. If the final number is less than your total debt divided by the duration of the payment plan, your plan is 100%.
Yes, as long as it has zero debt and the banking institution allows you to keep it.
Yes. All debt must be listed whether it can be discharged or not.
Not long. Once your debt is discharged your credit score should quickly improve.
If you have any more questions, contact one of our Bellevue bankruptcy attorneys for a free consultation and find out whether you qualify.