Experienced Chapter 7 Bankruptcy Attorneys in Everett, WA
Most consumers try to make good on their debts. Most people would never think about filing for debt relief through bankruptcy. But, when consumers are faced with serious problems like loss of a job, a struggling business, divorce, serious illness or a death in the family, they may need the experienced help of a consumer bankruptcy attorney.
Finding the right bankruptcy attorney to guide you through the legal process can be frustrating and only adds to your stress. The bankruptcy group at Bell & Ingram, P.S. is committed to help guide you through your legal experience so it is as stress free as possible. Our bankruptcy lawyers will use the bankruptcy laws to your advantage. We will advise you on how to protect your assets while eliminating your debt through bankruptcy.
Known widely as "liquidation" or "straight bankruptcy", Chapter 7 bankruptcy provides filers with protection from their creditors and relief from many of the debts that have overwhelmed and burdened them. It will allow you to clear most of your outstanding debts quickly and get a fresh start in your financial life.
To qualify for a Chapter 7 bankruptcy you must make less than the median income for people in your area. If your income is above the median income level in your area, you may still be eligible for Chapter 7 protections, but you will have to undergo a means test to determine how much disposable income you have.
When you file a Chapter 7 case, an independent "trustee" is appointed to liquidate your non-exempt assets. What this means is that any assets that you have which are not EXEMPT under applicable state or federal laws, can be sold by the Trustee in your bankruptcy case and the money distributed to your creditors according to their priority in the bankruptcy code. In the State of Washington, depending upon the nature of your assets, you will be permitted to choose either the federal exemptions, under the Bankruptcy Code, or the exemptions available under Washington State law.
The ultimate purpose of filing a Chapter 7 bankruptcy, and for that matter any bankruptcy chapter, is to discharge your debts. Most debts are dischargeable, but some are specifically excluded from being discharged, such as certain taxes which are less than 3 years old, alimony or child support obligations, debts incurred by fraud, embezzlement, theft, etc., and student loans (unless you can prove "undue hardship"). This is not a complete or comprehensive list of which debts are or are not dischargeable in Chapter 7, but it is intended to give the reader some idea of what can be dealt with.
For complete information concerning eligibility for Chapter 7, exemptions and discharge, contact Bell & Ingram, P.S.
