When debt is consuming your life, contacting a Bankruptcy Lawyer In Puyallup Wa will give you the relief you need from harassing creditor calls, and the threat of losing your home or car. When the stability of your life is in jeopardy, it can be a very stressful situation. Bankruptcy will provide the debt relief and peace of mind an individual needs to eliminate their debt and gain a new start.
Some individuals are worried that an attorney will think they’re a failure or they’re incapable of managing their money and avoid considering bankruptcy. An attorney will never judge an individual for why their debt has gotten out of control. The reason could have been overspending, a divorce, death of a spouse, illness, injury, or any other type of situation.
Foreclosure
Foreclosure is one of the scariest things an individual will face in their lifetime. Not having a place to live adds to the financial stress. Filing bankruptcy will stop all foreclosure proceedings and give an individual an opportunity to discuss with an attorney the best solution to the problem.
Depending on the circumstances, an individual might be able to retain their house and re-affirm the loan. If the home does not have a lot of equity or the payments cannot be caught up, an individual might be better to let the house get sold through bankruptcy.
Limited Income
When an individual has a limited amount of income and a lot of credit card debt or medical bills, Chapter 7 bankruptcy is a good option. Chapter 7 bankruptcy can be completed in three to four months and there’s no repayment program. This type of bankruptcy is considered the Fresh Start bankruptcy.
Source Of Income
If an individual has a regular source of income, they should consider filing Chapter 13 bankruptcy to eliminate their debt. The bankruptcy court will approve a repayment program that will last for up to five years. Once the payments are complete, the bankruptcy will be discharged.
There’s no reason to sweat over bills any longer when a bankruptcy a Bankruptcy Lawyer In Puyallup Wa can help. Freedom from financial burdens will reduce your stress level and improve your life.
