Kent, WA Bankruptcy Lawyers
Never pay your credit card bills again!
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Helping clients in South King County
Experienced WA State Bankruptcy Attorneys
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What is Bankruptcy?
Bankruptcy is defined as a legally declared inability or impairment of ability of an individual or organization to pay its creditors. There are several types of bankruptcy relief under the U.S. Bankruptcy code to eliminate or lessen an individual’s legal obligation to its creditors.
A voluntary bankruptcy petition can be filed by individual to stop collection and legal action and discharge (wipe out) most or all of a person’s debt and lower and reorganize debt that is not dischargeable into more affordable payments.
How Can Bankruptcy Help?
Filing for bankruptcy can help individuals and families financially in many different ways including:
1. Discharging Debts -
- A Kent bankruptcy completely wipes them out.
- Stop all harassing phone calls immediately!
Discharging (wiping out) credit cards medical bills, loan deficiencies from car repossessions, broken leases, payday loans, foreclosure deficiencies, and other unsecured debt. This is undoubtedly one of the greatest benefits of seeking protection under the Federal and Washington State bankruptcy laws.
A Kent, WA bankruptcy will completely wipe out all of these debts. You will NEVER have to pay another penny on them, and your creditors will automatically be forced to stop calling and harassing you at all hours of the day and night.
2. Prevents a Home Foreclosure.
- A Kent bankruptcy will stop your home's foreclosure.
This is another one of the Bankruptcy Code's most powerful tools. If can qualify, and choose to file a Kent, WA bankruptcy, it will stop any pending foreclosure action dead in its tracks. At a minimum, this will give you and your family some breathing room. In order to keep you home, however, you must be able to make your monthly mortgage payment.
But, by also freeing up immediate monthly cash flow (e.g. money that you are no longer paying to credit credit companies or other unsecured creditors), a WA State bankruptcy may put you in a position to be able to get caught up on your mortgage and keep your home.
The bottom line is that our Kent bankruptcy lawyers can immediately stop a scheduled foreclosure sale, and give you time to catch your breath. This may also give you critical time to try and get your mortgage modified, which will also hopefully allow you to keep your home.
3. Stop all Harassing Phone Calls Immediately.
This is another one of the Bankruptcy Code's most powerful protections. If you file for bankruptcy, your creditors are legally required to stop calling and harassing you. This means that you no longer have to live in fear of your phone ringing. And, our Kent, WA bankruptcy attorneys will help ensure that your creditors get off your back. It's the law.
4. Helping with Car Loans.
For many of our Kent bankruptcy clients, we are able to get their car loan payments lowered or restructured. In some cases, depending on how long you have owned your vehicle, we may also be able to actually lower the current balance of our loan or your interest rate.
Lowering and restructuring car loan payments and in some cases, lowering the balances and interest rates.
5. Addressing Issues with the IRS.
In certain situations, our Kent bankruptcy lawyers can help lower your IRS and other tax payments, as well as lower your interest rate. The issue of back taxes can be a complicated one. We're here to help you understand your legal rights and options.
In certain instances, however, with tax debts that are more than three years old, our Kent bankruptcy attorneys can successfully have these obligations completely discharged so that you will never have to pay them.
6. Help with Student Loans.
In general, student loans are not dischargeable in a Kent bankruptcy. In many cases, however, filing for bankruptcy can help clients with student loans. For example, depending on which type of bankruptcy is best for you, you may be able to significantly lower you monthly payments for up to five years.
7. Consolidate your Debts in a Kent Chapter 13 Bankruptcy.
For our Kent bankruptcy clients with higher incomes, filing a Chapter 13 bankruptcy acts as a type of consolidation plan that is based on your specific income. The enables you to lower your monthly payments on unsecured debts to one that you can afford.
If you have questions about whether or not you can qualify for bankruptcy, particularly if you earn well above the Washington median income, we invite you to call our offices for an initial consultation. Many people erroneously believe that their income will prevent them from qualifying for bankruptcy protection.
Many of these people, however, can qualify and would greatly benefit by filing for bankruptcy. When you call one of our Kent bankruptcy attorneys can review your finances in detail and explain your options.
9. Frees Up Immediate Cash Flow.
As noted above, a Kent bankruptcy will almost always immediately free up monthly cash flow. This is because you will no longer be paying unsecured creditors every month. The money that you are now paying on credit card bills, medical bills, judgments, Pay Day loans, etc. will now be available for rent, gas, groceries and other living necessities instead to your creditors.
10. Stops Wage Garnishments.
If you are currently subject to a wage garnishment, our Kent bankruptcy lawyers will be able to immediately stop it at the time of your filing. In some situations, we can even have some of the money that was garnished returned to you.