Possessions in Olympia
Some people living in Olympia may be reluctant to file for bankruptcy because they're afraid of losing their possessions, retirement savings, or home equity. Debt collectors may fuel these fears by telling debtors that filing for bankruptcy means they will lose everything, even though this is a total fabrication.
Creditors don't want you to know that bankruptcy was created by the federal government to help people overcome insurmountable debt. The truth is that filing for bankruptcy in Olympia allows you to maintain ownership of most property and other assets, because the ultimate goal is to provide financial independence for people who need it most.
Contact one of our Olympia bankruptcy attorneys to find out how you can eliminate debt while keeping your possessions and hard-earned assets. Our attorneys in Thurston County will educate you about your legal rights as a debtor, and will then work hard to protect them.Keep your assets with help from our bankruptcy attorneys in Olympia
- There are state and federal exemptions for property when you file for bankruptcy
- Retirement is 100% exempt from seizure, and most or all of your unsecured debt will likely be discharged
- If you maintain payments you can keep any piece of property, but you want to be sure it makes sense financially
- Chapter 13 bankruptcy allows you to maintain ownership of high value assets, like homes or cars
If severe money problems make it impossible for you to pay bills, lenders will do just about anything to get money from you. The last thing debt collectors want is for you to find out that you have legal rights regarding debt, which is why they hate our Olympia bankruptcy lawyers.
Many Washington State residents mistakenly believe that filing for bankruptcy will cause them to lose their assets and possessions. Debt collectors benefit from promoting this myth, because they know that fear of losing everything prevents debtors from considering bankruptcy as a means of financial relief. Familiarize yourself with bankruptcy law with help from one of our Washington State debt relief lawyers, and avoid making financial blunders that could cost you dearly in the long run.You can protect your assets by filing for bankruptcy
High pressure tactics used by debt collectors are designed to coerce you into making payments you can't afford. This constant pressure and harassment could cause you to make poor financial decisions that you'll regret later in life. For instance, debt collectors sometimes convince debtors to pay down unsecured debt by cashing in part of all of their retirement. While their intentions are good, the debtors are unaware that retirement is 100% protected during a bankruptcy. When money problems persist and the decision is eventually made to file for bankruptcy, they realize their mistake and wish they had known the truth before cashing out their retirement.
Bankruptcy was developed by the federal government to help people recover from significant financial hardship, while maintaining their dignity and independence. Falling behind on bills often happens because of circumstances beyond one's control, like getting sick or laid off from work unexpectedly. There is a point where debt grows so large that it simply becomes impossible to pay back, but most people keep trying to tread water financially long after they should. Often the reason is because they fear losing their retirement, home equity, or possessions. However, this is not what happens when you file for bankruptcy.
Our Olympia bankruptcy attorneys can explain how you can pursue bankruptcy exemptions for property that includes:
- Homestead (home equity)
- Household Items
- Personal Injury Awards
- Back Government Benefits
- Back Child Support
Contact one of our Thurston County bankruptcy lawyers for a free evaluation of your financial situation and find out whether filing makes sense for you and your family. You will likely be surprised when you find the truth regarding bankruptcy from one of our experienced debt relief attorneys.
Keep your possessions and wipe out debt, stop harassing phone calls from creditors and get a fresh financial start with help from our team of Olympia bankruptcy lawyers.