Bankruptcy can allow individuals to overcome their debts and have a better financial future. When creditors are becoming harassing and an individual has done all they possibly can to catch up on their payments, there is legal help to be found. Hiring a Bankruptcy Lawyer In Puyallup WA will allow individuals to discover their legal options so they can make the right decision for overcoming the debts they owe.
What to Expect From the Process
Knowing what to expect from the process allows individuals to be fully prepared. The entire process of filing for bankruptcy first begins with scheduling a consultation appointment. The individual will need to bring in documents to ensure the lawyer will be equipped with the information they need to help make sound decisions with their client. The lawyer will carefully review the documents and offer legal guidance on which type of bankruptcy will be most appropriate.
There are two main types of bankruptcy that can be filed by individuals, depending on their income and the type of debts they owe. Chapter 7 is the fastest bankruptcy option, but it could require an individual to submit their non-exempt property for liquidation. If no eligible property is owned, the debts can be absolved in some instances.
Chapter 13 is a type of bankruptcy that allows individuals additional time to make payments on their debts. Most people are given between three and five years. During this time period, the individual will make payments on their debts and work towards keeping their payment arrangement in place.
How to Get Started
To get started on filing for bankruptcy, an individual will need to first schedule a consultation meeting with an attorney. This meeting is important for understanding the process and allowing the individual to ask any questions they might have. Individuals should plan on taking careful notes so they can keep up with the important information that will be given.
Those who are dealing with too much debt can find help by hiring the Bankruptcy Lawyer In Puyallup WA. With help from a lawyer, the process of seeking bankruptcy will be more streamlined and effective.
