If you are facing bankruptcy and need to know what steps you should take, a free consultation with a Chapter 13 law office will provide you with the right advice. A bankruptcy attorney Tacoma WA locale offers affordable payment plans and flat fees to all clients who are seeking the best legal solution for Chapter 13.
Your debts can be consolidated into one payment plan that lasts up to five years; this is known as a Chapter 13. All debts can be part of the plan, including mortgage in arrears, car loans, taxes and child support. Your creditors are given notice beforehand, so that they can't argue with a discharge when the plan ends.
The first step is to file some documents, including a petition, and a statement of your debts, budget, income and property. You will then come up with a plan that shows your creditors how you are going to repay your debt. A trustee will be appointed to handle your case; he or she is assigned the task of collecting payments and repaying your creditors. If your trustee or creditors can't agree with any aspect of your plan, there may need to be a court hearing, where the judge's decision is final.
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.
Your debts can be consolidated into one payment plan that lasts up to five years; this is known as a Chapter 13. All debts can be part of the plan, including mortgage in arrears, car loans, taxes and child support. Your creditors are given notice beforehand, so that they can't argue with a discharge when the plan ends.
The first step is to file some documents, including a petition, and a statement of your debts, budget, income and property. You will then come up with a plan that shows your creditors how you are going to repay your debt. A trustee will be appointed to handle your case; he or she is assigned the task of collecting payments and repaying your creditors. If your trustee or creditors can't agree with any aspect of your plan, there may need to be a court hearing, where the judge's decision is final.
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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