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Washington State Bankruptcy Attorneys
- Chapter 7 Bankruptcy
- Chapter 13 Bankruptcy
Lakewood | Puyallup | University Place | Bonney Lake
Olympia Bankruptcy Lawyers
Call now to see if you can qualify.
Toll Free Statewide: (855) 923-3283
Affordable payment plans.
Low flat fees.
Never pay your credit card bills again!
Wipe out your medical bills and debts.
Stop your Olympia home foreclosure.
Stop all creditor harassment now!
Stop all wage garnishments.
Experienced bankruptcy attorneys providing debt relief services throughout Thurston County, WA
Call now! Toll Free Statewide: (855) 923-3283
Filing for bankruptcy can be a difficult choice. Many people, however, in Olympia and Thurston County who are having difficulties paying their bills choose filing for bankruptcy in order to get a a fresh financial start. From our bankruptcy offices in Olympia, we serve clients throughout the South Puget Sound area, including the cities of Puyallup, Lakewood, Bonney Lake, Lacey, and University Place.
A good Olympia bankruptcy attorney understands how to maximize your relief under the bankruptcy code. Many of our Olympia bankruptcy clients are able to completely wipe or "discharge" their unsecured debts, while retaining all of their personal property, assets, and retirement. This is accomplished through the use of numerous bankruptcy code "exemptions".
Our bankruptcy lawyers handle all Thurston County Chapter 7 and Chapter 13 bankruptcy cases. If you are behind on your mortgage and your home is facing foreclosure, we may be able to help you stop the sale and save your home. We serve debt relief clients throughout Thurston County, WA. Call now for a free qualification interview and initial consultation. The only thing you have to lose are your debts.
Toll Free Throughout Washington State: (855) 923-3283.
Call now to see if you qualify for bankruptcy relief.
- Stops Collections Calls and Creditor Harassment Immediately
- Can Discharge (Wipe Out) All or Most of Your Debts
- Stops Foreclosures Sales and Saves People’s Homes
- Stops Wage Garnishments and Lawsuits
- Stops Car Repossessions
Experienced and aggressive bankruptcy lawyers serving in Olympia, WA and throughout Thurston County.
What Kinds of Debts Can Be Discharged in Bankruptcy?
Most unsecured debts can be discharged by filing for bankruptcy. Unsecured debts have no property secured to them as collateral. The most common examples of unsecured debts are credit cards and medical bills. Payday loans, broken apartment leases, car loan deficiencies after repossession, and mortgage loan deficiencies are foreclosure are other examples of unsecured debt.
However, student loans and many tax debts are not dischargeable in bankruptcy. Call one of our experienced Olympia attorneys for a free consultation to figure out if all or most of your debts will be wiped out by filing for bankruptcy.Bankruptcy Attorneys in Olympia, WA
What is Chapter 7 Bankruptcy?
Chapter 7 Bankruptcy is the most common type of consumer bankruptcy. It discharges all qualifying unsecured debts so that you do not have to pay any portion of these debts. A Chapter 7 Bankruptcy case usually is completed withig 4 months after filing a Chapter 7 Bankruptcy petition. Most people keep all of their property in Chapter 7 Bankruptcy cases. If you meet the income requirements, you can file for Chapter 7 Bankruptcy once every 8 years.
Filing for Chapter 7 Bankruptcy will also stop a scheduled foreclosure sale and allow the homeowner additional time to successfully complete a mortgage modification.
What is Chapter 13 Bankruptcy?
A Chapter 13 Bankruptcy, also known as a wage earner plan, allows the debt to reorganize debts into a manageable payment plan based upon the debtor’s income and expenses. Usually a substantial amount of debt is discharged at the end of the Chapter 13 Payment Plan, which is typically 36 to 60 months in duration.
A “Means Test” is applied by average a debtor’s last 6 months of total household income and expenses to determine if the debtor most pay back at least some of his or her unsecured debt in a Chapter 13 bankruptcy or discharge all of his or her unsecured debt by filing Chapter 7 Bankruptcy.
There are several reasons why you may want to file for Chapter 13 bankruptcy even if you qualify for a Chapter 7 Discharge:
1. Stop Your Foreclosure sale and repay a mortgage you are behind. A Chapter 13 Bankruptcy Plan allows a homeowner to repay the mortgage arrears for up to 60 months. You will also have to resume your regular monthly mortgage payments when doing so.
2. Discharge---“Strip” Your Second Mortgage. If you first mortgage balance is higher than the balance on your first mortgage, you can strip your legal obligation on your second mortgage and actually strip the lien from title to your home at the end of your Chapter 13 Plan where you will no longer owe the mortgage.
3. Repay Tax or Credit Card Debt InterestFree. Chapter 13 Bankruptcy plan allows you to repay your credit card and tax debt without accruing any additional interest so long as it can be repaid in full over 60 months.
4. “Cramdown” and/or lower your car payment. If your car loan is at least 2 ½ years old and you are under water on the loan, you can “cramdown” and thereby lower the balance on your car loan to the fair market value of your car. This will also typically lower your car payment and interest rate. Even if you have not had your car loan for 2 ½ years, in many cases you can lower your car loan through a Chapter 13 Plan by restructuring the payment over 60 months and also lowing the interest rate.
Call Today for a Free Consultation with one of our experienced Olympia Bankruptcy Lawyers and get a fresh start!
Call Statewide for help and answers.
Toll free: (855) 923-3283