How to Get Help From a Bankruptcy Lawyer In University Place WA

by | Jul 2, 2024 | Legal

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Filing for bankruptcy does not have to be as stressful when someone hires a Bankruptcy Lawyer In University Place Wa. Knowing what to expect from the process will help to ensure the individual is able to feel confident in seeking legal help to get over their debts and seek financial freedom.

How to Get Started

One of the first things individuals need to do is to schedule a consultation appointment with the Bankruptcy Lawyer In University Place Wa. This appointment allows the individual to learn about their rights and which type of bankruptcy will be most beneficial for their needs. There are two main types of bankruptcies for individuals to file. Working with a lawyer will help a person to make a sound decision on the steps they should take.

Chapter 7 is a type of bankruptcy that allows individuals to quickly overcome their debts, often in six months or less. Through means testing, an individual will learn if they are approved for this type of bankruptcy. Those whose income is less than the state median are typically approved. A trustee is placed over the bankruptcy case and they are held responsible for liquidating any non-exempt property the individual owns so the proceeds can be used to pay off the debts that are owed.

There is also the option of Chapter 13 bankruptcy, which is considered the wage earner’s bankruptcy. With this type, individuals must submit a payment plan to the courts for approval. Through the payment plan, individuals are given three to five years to make payments so their debt is paid off within the time frame. To be approved, an individual must have a reliable income coming in each month.

Get Started Right Away

If the collection calls just will not stop and you are feeling overwhelmed with the harassment of creditors, now is the time to seek legal help. Getting help from a lawyer will make the process of filing for bankruptcy much easier. Allow them to meet with you and go over your needs so you can learn more about your options. With bankruptcy, you can finally be free of your debt.