If you need legal advice about filing for bankruptcy, the services of a law office can help you with a Chapter 13 solution. Your bankruptcy attorney Tacoma WA area offers a free consultation, with flat fees and payment plans that are affordable.
A Chapter 13 lets you rearrange all your outstanding debts into a single repayment plan of a maximum duration of five years. You can consolidate all types of debt, such as mortgage repayments, back child support, car loans, and taxes. To prevent your creditors from objecting to a discharge at the end of the plan term, they are given advance notice.
The first step is to file some documents; among these are a petition, and another that states your current financial situation, including all income, assets and debts. Then you offer your creditors a repayment plan for your debts, and have a trustee appointed to you. The trustee's job is to collect the payments and pay your creditors. If a creditor or your trustee does not agree to the plan, the dispute may have to be settled in court, where a judge will make a final decision.
There will be a 'meeting of creditors' held each month, which is usually attended by your trustee, you, and your Tacoma Chapter 13 attorney. Most of the time, you will need to comply with your trustee; however, your attorney may be required to argue your case in court. Creditors do not attend these meetings, and if they have an objection they will usually file it in court, or they may consult with your attorney directly.
You can file for a Chapter 13 if you need to prevent a foreclosure. This requires that you pay back all overdue mortgage debt during the five year plan. Your bankruptcy must be accepted by your lender if you can satisfy some conditions; the payment plan must be legal, your repayments must remain current, and your back mortgage payments must all be paid off by the end of the plan.
Call a Tacoma bankruptcy lawyer today for your free consultation about filing for a Chapter 13. The team will ensure you get the best legal advice possible, and will help you every step of the way.
A Chapter 13 lets you rearrange all your outstanding debts into a single repayment plan of a maximum duration of five years. You can consolidate all types of debt, such as mortgage repayments, back child support, car loans, and taxes. To prevent your creditors from objecting to a discharge at the end of the plan term, they are given advance notice.
The first step is to file some documents; among these are a petition, and another that states your current financial situation, including all income, assets and debts. Then you offer your creditors a repayment plan for your debts, and have a trustee appointed to you. The trustee's job is to collect the payments and pay your creditors. If a creditor or your trustee does not agree to the plan, the dispute may have to be settled in court, where a judge will make a final decision.
There will be a 'meeting of creditors' held each month, which is usually attended by your trustee, you, and your Tacoma Chapter 13 attorney. Most of the time, you will need to comply with your trustee; however, your attorney may be required to argue your case in court. Creditors do not attend these meetings, and if they have an objection they will usually file it in court, or they may consult with your attorney directly.
You can file for a Chapter 13 if you need to prevent a foreclosure. This requires that you pay back all overdue mortgage debt during the five year plan. Your bankruptcy must be accepted by your lender if you can satisfy some conditions; the payment plan must be legal, your repayments must remain current, and your back mortgage payments must all be paid off by the end of the plan.
Call a Tacoma bankruptcy lawyer today for your free consultation about filing for a Chapter 13. The team will ensure you get the best legal advice possible, and will help you every step of the way.
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