Say Goodbye To Debt Problems With Wenatchee Bankruptcy Lawyers

Residents of Wenatchee and other parts of Chelan County are facing a future marked by rising costs. This is bound to have serious consequences on personal finances, as 14% of Washington State residents already carry some kind of delinquent debt. This doesn’t look like a short-term crisis, as the entire country and neighboring nations enter an extended period of uncertainty. This could result in some Wenatchee residents suddenly finding themselves in the middle of a financial crisis from circumstances beyond their control.

When people struggle with unexpected financial problems, it’s no surprise they might know how to find debt relief. Our financial attorneys in Wenatchee can guide you through a financial crisis. For over 30 years, we’ve helped people all over Washington State come to terms with their debt and recover. Our bankruptcy lawyers in Wenatchee can provide the legal and financial guidance people need to solve their problems.

Don’t assume that debt relief lawyers are only available to help the wealthy of Wenatchee. Our team gives free consultations to anyone who asks, assessing the situation and zeroing in on the optimal actions to fix it. We have the knowledge, experience, and empathy, and we just want to help people make things right again.

Each person is different, so it follows that the financial problems they face will be different from others as well. No one, regardless of their socioeconomic status, is completely immune to falling into a debt crisis. Our Chelan County debt lawyers discuss your situation with you, find out what you need, and propose possible solutions like:

• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Debt Management Plans
• Mortgage Modification Programs
• Payment Plan Agreements
• Lump-Sum Settlements
• Debt Settlement Agreements

Our bankruptcy lawyers will focus their knowledge and experience on your problem to see what is the best path going forward for you.

Many people have heard or read about the word “bankruptcy,” but few understand how this process works. A bankruptcy filing can’t happen unless a person meets the financial and legal requirements that exist at both the state and federal levels.

The two most common types of bankruptcy for private citizens are:

Wenatchee Chapter 7 Bankruptcy Requirements

• For your sized household, your income falls below the state median. If your income is slightly above the threshold, certain expenses may be deductible, which can bring your total below the qualification amount.
• Your business records have no previous Chapter 7 bankruptcy filing within the last eight years.
• You agree to take and pass a credit counseling course within 180 days of filing.
• Wenatchee Chapter 13 Bankruptcy Requirements
• You can demonstrate that you have a reliable salary or other income to contribute to a payment plan.
• Your secured debt falls below the described debt limits for the type of filing you’re making. Unsecured debts don’t have this limitation.
• You can provide four past years of correctly filed and paid taxes.
• You agree to attend and pass an approved credit counseling course within 180 days of filing, like with a Chapter 7 filing.

Bankruptcy is a financial protection mechanism that discharges part or all of a person’s debt. If your debt situation can no longer be managed, sometimes the only way out is to “reset” everything back to zero and start over. A Chapter 7 Bankruptcy filing does this, but it has consequences.

Chapter 7 Bankruptcy is sometimes called “liquidation bankruptcy” because some feel it takes a “scorched earth” approach to eliminating unsecured debt, which are loans with no collateral. This liquidation process can be extreme, but Washington State law provides legal options to mitigate its effects. Some exemptions can protect critical possessions, like your home, car, or other important assets. Our Chelan County bankruptcy lawyers can cover the requirements with you and conduct a means test to see if you qualify for a Chapter 7 filing.

Chapter 7 Bankruptcy Might Be Right For You If

• Your income has taken such a big reduction that you can’t pay debts reliably
• Creditors are moving to garnish your wages or repossess assets
• The bulk of your debt is unsecured, such as medical bills or credit card debt
• You lack any significant assets that could be sold toward debt repayment

Some people get into debt but still have a job with a regular salary or another type of recurring revenue. People in this situation have the option of choosing Chapter 13 Bankruptcy, a different, slower alternative to Chapter 7. This is nicknamed the “wager earner’s plan” because a salary is a requirement, but this results in more flexibility.

Chapter 13 bankruptcy, unlike Chapter 7, doesn’t liquidate assets. This involves structuring a payment plan, typically with a duration of 3-5 years. This doesn’t discharge debts as a Chapter 7 filing would, but instead it gives people time to reduce their debt and get it back down to manageable levels once again. Similarly to a Chapter 7 filing, this can delay or even halt other financial procedures, like foreclosure or repossession, that may have already been in progress. Our Chelan County bankruptcy lawyers can assess your debt situation to see if you meet the Chapter 13 bankruptcy requirements under Washington State law.

Chapter 13 Bankruptcy Could Be Your Solution If:

• You have a verifiable monthly salary or other recurring income to make monthly payments.
• You’ve missed mortgage payments and need some time to catch up.
• You took the means test for Chapter 7 bankruptcy but exceeded the threshold.
• You have debts, such as child support or outstanding taxes, that Chapter 7 bankruptcy doesn’t cover.

Washington State, like the rest of the USA, is now in a period of massive economic disruption. Whether you’re a student with friends looking for good pub food at McGlinn’s Public House or a settled family looking to have fun with the kids at Rocky Reach Discovery Center, no one is immune from a potential financial crisis that can happen during such an unpredictable economic period.

Despite this, it’s wrong to think there’s nothing you can do. Chelan County has plenty of opportunities for residents, whether you live in Wenatchee itself or Entiat. You could consider retraining, going back to school at Wenatchee Valley College, or reassessing your financial goals with guidance from Sagehills Financial.

It’s at times like these that it's essential to maintain calm and then use your time to review the situation and devise a plan. Think about what options you have in Washington State. See how your priorities in the Pacific Northwest now align with the current circumstances. And always remember that the challenge of overcoming debts is not something you have to do on your own. Our Wenatchee financial lawyers are here to help and ready to answer any questions you may have as you get started.

Our bankruptcy lawyers have been assisting people all over Washington State for over 30 years. During that time, they’ve answered many questions, some of the most common being:

Wenatchee residents are not alone in encountering credit card debt problems. The entire country is experiencing an increase in debt, including credit cards. The new disruptive financial period we’re now entering will only exacerbate this trend. Economic variables, such as inflation, rising interest rates, and higher fees, can quickly cause credit card debt to spiral out of control. Fortunately, there are legal measures to get that control back. Our Wenatchee bankruptcy lawyers can help you determine what works best to get back on track.

There are also times when your debt situation is hindered by interference from others. Third parties, like debt collection agencies, may work for creditors to recover outstanding debts. Collection agents may resort to questionable, even unethical, activities, but that doesn’t mean they have legal permission to do so. The Fair Debt Collection Practices Act (FDCPA) outlines the rights you have, even if you are in debt. Some Washington State statutes of limitations may also classify certain debts as unenforceable. Wenatchee bankruptcy lawyers can help you navigate through these complexities to end this unethical treatment.

For Wenatchee residents, one of the biggest and most important investments in life is a home. So, the idea of someone else being able to come and take it away is the ultimate nightmare. However, there is a completely legal procedure to do this, called foreclosure. Chelan County foreclosure lawyers can fight this.

Legal countermeasures, like filing for bankruptcy or requesting loan modifications, can delay foreclosures and give you more time. Washington State also has laws in place outlining the specific procedures lenders obey during a foreclosure. Our Wenatchee financial lawyers understand this entire process and can protect you and your home from it.

The United States has some of the best medical treatments in the world, but they can also be among the most expensive. Without comprehensive health insurance coverage from a job, these costs can turn into monumental medical debt. All it takes is one diagnosis of a chronic condition requiring lifelong treatment, surgery, or even an accident to wipe out personal finances. Situations may even develop where facilities like Lake Chelan Health Hospital or Cascade Medical hire collection agencies to try to recover payments. These actions on your financial record have massive negative repercussions for your credit rating. If you face medical debt, our Wenatchee financial attorneys can help by:

• Mediating a payment plan; some hospitals offer financial assistance programs or are willing to settle.
• File for bankruptcy. Filing for Chapter 13 or Chapter 7 bankruptcy may discharge some or all medical debt.
• Fight mistakes; billing errors and other inaccuracies can be challenged or even negated through debt validation.
• Surprise bills: Hospitals sometimes unexpectedly hit patients at a later time with surprise bills, but both State and Federal law view this as an illegal practice.

Banks aren’t the sole source of loans. Other businesses like MoneyTree offer “Payday Loans.” These appear convenient, with no credit checks and fast approval, but they are often accompanied by higher interest rates and various fees that can quickly create a debt cycle. If the cycle continues, increasing expenses can soon surpass the original loan amount, resulting in substantial debt. Some debt cycles last years as paychecks vanish into new loans, more fees, and overdraft fees that devastate finances. Chelan County bankruptcy attorneys can end the cycle and give back control.

If you miss too many payments on a car loan, there’s a risk of your vehicle being taken back. However, even after repossession actions have begun, you can still take steps to fight back. Wenatchee bankruptcy lawyers have legal responses for retaining a car, even after a repossession. If you’ve been warned that a repossession is coming or it's already in progress, our team of Wenatchee financial attorneys can help you fight it.

It’s both legal and understandable for a creditor to want to be paid back for a loan. However, this sometimes results in illegal actions taken against debtors. Collection agencies or their agents sometimes rely on a debtor’s ignorance and fear, leading them to assume any treatment they receive must be legal. In reality, even when you are in debt, you have rights, and it’s illegal to violate them. Talk to a Wenatchee debt attorney immediately if you’ve experienced the following:

• Aggressive phone calls regardless of the hour
• Promising extreme legal reprisal, like arrest
• Stalking and harassing family members or employers about the debt
• Using abusive language or threatening bodily harm

Wenatchee bankruptcy lawyers can issue cease-and-desist letters, file lawsuits for damages, and take other legal retaliation to end illegal harassment.

There are some situations where a creditor will take a different approach. If payment requests and collection agencies have failed, they may file a lawsuit to recover the money owed. In this instance, the best chance for success is not working with a traditional litigation attorney. Instead, you should consult an experienced financial law or bankruptcy attorney. Our teams in Chelan County can assist in:

• Represent you in Chelan County Court
• Protect the rights you have under the FDCPA
• Mediate settlements
• Guide you in filing for bankruptcy
• Fight breach of contract lawsuits attempting to collect debt

If your debt has become a financial crisis, we can help. Wenatchee bankruptcy lawyers in Chelan County possess the experience, expertise, and empathy to assist you in managing your debt. Contact us today.