Although our specialty is in foreclosure defense, we find many of our clients benefit from filing a bankruptcy. Not only is this one way to gain leverage when dealing with your lender, but it can also be a way to get a fresh start.
If you are considering Chapter 7 or Chapter 13 Bankruptcy and you live in Bellevue, Seattle or Western Washington - I recommend you contact us to schedule a free legal consultation to discuss your individual financial situation.
Read more: Bankruptcy 101
Bankruptcy may or may not be the right course of action for you. During your consultation we will take a look at the specific details of your financial situation and we will make recomendations for you based on our evaluation.
We will explain the details and advantages of Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.
If you are facing foreclosure on your home we will look at various Foreclosure Defense options including bankruptcy as well as Mortgage Mediation, mortgage modification or short sale of your home.
A fresh start awaits by filling out the form on our contact us form and scheduling your free consultation to discuss your situation and legal options.
Many people do not have all of the correct information about bankruptcy and the protection it offers. In fact, many people are discouraged from learning more about what bankruptcy has to offer, merely because they do not have all the facts. Oftentimes, people misconceive the effect filing for bankruptcy can have on their lives, thinking they will not be able to even get another credit card again or even purchase a new home! Our hope is to explain the true facts and dismiss the false ones. We can help you determine if filing bankruptcy is the right decision for you personally.
Myth #1: Bankruptcy is difficult. Even though there are many rules and a process to go through, it is not so difficult that you should dismiss the benefits of filing. With a competent lawyer representing you, the process should be fairly straightforward in most situations because they will explain the details and help you in the process so that you understand it completely.
Myth #2: If I file for bankruptcy, I will not be able to get credit ever again! Actually, you can begin to rebuild your credit within months of filing for bankruptcy. Many times, clients find it can be easier to obtain credit (after the bankruptcy) because they have less debt!
Myth #3: If I file for bankruptcy, I will lose my home, car, pension, IRA or 401(k)! Many people who file for bankruptcy do not lose any property at all. In Washington, many of these types of assets can be exempted (not liable for) because they are built into the bankruptcy protection laws.
Myth #4: A creditor cannot collect my debts because I am unemployed. In reality, in Washington State, a creditor can sue you for the debt for six years and also collect against you for another 25 years after that! That is a long time period in anyoneâs life and you should consider the alternative of filing Chapter 7 bankruptcy.
Myth #5: I will lose my job (or not be able to get a new one) if I file for bankruptcy. Many times, an employer does not even find out about the bankruptcyâ¦unless you tell them yourself. Whether they know or not, employers are not allowed to fire, refuse to hire or take other adverse actions against someone because they have filed bankruptcy.
Myth #6: When I file bankruptcy, it will damage my spouseâs credit. When one spouse files for bankruptcy, it does not affect their spouseâs credit.
Myth #7: I owe for taxes, therefore bankruptcy will not help my situation. There are many rules concerning which taxes will or will not be discharged. However, some taxes can be discharged (included in the bankruptcy).