Get the best legal advice for a Chapter 13 bankruptcy at the law offices with a free consultation, and find out what you can do about your debt. A bankruptcy attorney Tacoma WA area has low fees and a payment plan for clients who need a legal solution to their financial problems.
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; among these are a petition, and another that states your current financial situation, including all income, assets and debts. Then you offer your creditors a repayment plan for your debts, and have a trustee appointed to you. The trustee's job is to collect the payments and pay your creditors. If a creditor or your trustee does not agree to the plan, the dispute may have to be settled in court, where a judge will make a final decision.
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; among these are a petition, and another that states your current financial situation, including all income, assets and debts. Then you offer your creditors a repayment plan for your debts, and have a trustee appointed to you. The trustee's job is to collect the payments and pay your creditors. If a creditor or your trustee does not agree to the plan, the dispute may have to be settled in court, where a judge will make a final decision.
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.
About the Author:
Get a summary of the benefits of working with a bankruptcy attorney Tacoma area and more information about an experienced lawyer at http://www.findbankruptcy.com now.
No comments:
Post a Comment