Filing for bankruptcy can be a confusing process for those who are not aware of the laws and their rights. This is why it is recommended individuals hire an attorney to help them through the process. Unfortunately, not everyone has the money to pay an attorney for their services. Finding a Cheap Bankruptcy Lawyer In Tacoma Wa allows an individual to get the legal help they need without putting too much more strain on their budget.
What Can Individuals Expect?
It is imperative that individuals know what they can expect after hiring a Cheap Bankruptcy Lawyer In Tacoma Wa. Hiring an attorney starts the process and allows the attorney to review the client’s financial records so the attorney can advise the client on the best type of bankruptcy for their needs.
Bankruptcy is a legal process that allows individuals to overcome the debts they owe. They can be overcome by the liquidation of property, payments, or through the cour trustee absolving the debts. It is essential a person meets with their attorney as soon as possible so the process can be started. Once the bankruptcy has been filed, all creditors must cease and desist pursuing the debtor by any method.
Working with a lawyer helps to ensure all of the bankruptcy paperwork is properly filed so there are no needless delays or issues that would prevent a person from being approved. There are two types of bankruptcy a person can file for.
Types of Bankruptcy
Chapter 13 is considered the wage earner’s bankruptcy because it requires a person to make monthly payments to the court. The individual is given a specific number of years to make payments so their debts are paid off in the allotted time. This type of bankruptcy can help a person prevent the loss of a home.
Chapter 7 is an easier bankruptcy to go through and is usually settled in six months or less. Some assets may be seized to pay off the debts owed, and some debts can be absolved by the court-appointed trustee.
To learn more about your options for bankruptcy, visit the website. Call the office today if you would like to schedule an appointment.
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