Are you Trying to Keep your House?
You can probably keep your house after filing bankruptcy in Washington, if you’ve filed a Chapter 13 bankruptcy. Our bankruptcy law office will be able to offer you legal representation regarding which assets you may keep (exempt) during a bankruptcy proceeding.
We have provided a informational packet that will give you a preliminary idea of whether a Chapter 13 bankruptcy is right for your financial situation. The questionnaire should be self-explanatory, but we’ve also provided instructions in its use.
Most people are unaware of the difference between a Chapter 7 anda Chapter 13. Basically, a Chapter 13 is a bankruptcy plan that consolidates debt and repays the debt over time, and a Chapter 7 bankruptcy is a liquidation or “fresh start” bankruptcy that liquidates debt. Each has its own rules and monetary limits. Our law firm has a significant amount of experience with both Chapter 7 and Chapter 13 bankruptcies for individuals, businesses, and sole-proprietors.
For your benefit, this website also provides you with the answers to some frequently asked questions about bankruptcy.
Chapter 13 Bankruptcy Law Firm
An individual who has assets such as a car or a house that he or she does not want to lose most often uses a chapter 13 bankruptcy. A Chapter 13 is a more custom bankruptcy, in comparison to a chapter 7, and it allows different exemptions. If you filed a chapter 7 bankruptcy a few years ago, you may not be able to file a chapter 13 today. Our bankruptcy lawyer can offer legal representation in this area.
Our bankruptcy attorney has a broad range of services we can provide to our bankruptcy clients.
- Resources. We have a network of people and companies, such as auto dealers, that can help you in a variety of ways.
- Flat fee. Our law office has a flat fee for uncontested bankruptcy proceedings.
- Network. We can help you with loan workouts, mortgage refinancing, reverse mortgages and more.
- Experience. We’ve helped a number of desperate individuals and distressed businesses. We can help you too.
- Buffer zone. We stand between you and those nasty phone calls. We stop harassment from creditors.
- Ears. We know it took a lot to pick up the phone, or walk in the door of our law office. We listen. We know you’re stressed and we can help.
Chapter 13 Bankruptcy for Debt Consolidation
A Chapter 13 bankruptcy is a “wage earner bankruptcy” that allows a person to consolidate his or her debt while making convenient monthly payments to a trustee. A payment plan is proposed which repays the debt over a three- to five-year period.
The amount of the monthly payment and the length of the Chapter 13 repayment plan depend upon the following factors:
- Monthly income of the debtor
- Monthly expenses of the debtor
- Amount and nature of the debt
The most common uses of Chapter 13 involve:
- Repayment of past due mortgage payments (mortgage arrears) enabling you to keep your house after filing a bankruptcy in Washington
- Restructuring of auto loans to save a vehicle
Secured debts must be repaid 100%, while unsecured debts may be paid less than 100% on the dollar, or may be repaid at a lower interest rate. A person receives a discharge (bankruptcy completion) under Chapter 13 once the payment plan is completed.
Helping you Face and Resolve your Problems
If you want to keep house after filing bankruptcy in Washington and get out from under debt, we urge you to call or contact our Kent Washington law office to schedule an appointment for an initial consultation.
The Terry Law Firm, designated as a Federal Debt Relief Agency by an Act of Congress and the President of the United States, has proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 15 years.
