Considering a bankruptcy can be very stressful, but getting through the process can be made a lot more manageable with the help of a good lawyer. We have years of experience helping people work their way through bankruptcy requirements at both the federal and Washington state levels, helping our clients get through the process efficiently, stop harassment calls from creditors, eliminate debt, and gain a fresh financial outlook.
Here are some points to consider about the bankruptcy law in Washington State, which you can discuss with experienced attorney Kalkadora Thangkhiew at a free consultation:
- A trustee will be appointed by the bankruptcy court. This person collects all non-exempt property and sells the assets. The proceeds from this sale are distributed to the creditors. This does not, however, mean that you will necessarily lose all of your belongings. You will then receive a discharge of all dischargeable debts.
- Washington has its own set of bankruptcy exemptions which establish what property you can keep when you file bankruptcy under Chapter 7.
- In order to file for bankruptcy under Chapter 7, you must complete a number of required documents to disclose information about your assets, debts, and income. One of the forms is a lengthy calculation called the “means test.” Our law office is very experienced with these forms and will assist you with this process.
- The means test considers the individual’s income relative to the median income in the state. There is a required course you must take to qualify — our law office will advise you on this and all related matters.
- The U.S. Bankruptcy Court Western District of Washington has offices in Seattle and Tacoma. The district serves the region south of the Canadian border and north of the Columbia River between the Cascade Mountain range and the Pacific Ocean. We are experienced in dealing with the requirements of this court.
Contact us today for a free consultation.