When debts begin to rise, individuals need to be aware of their options for seeking help from the Bankruptcy Attorney In Tacoma Wa. Getting help from an attorney will assist a person in knowing the options that are available to them for overcoming their debt. With this information, individuals will be prepared.
How to Get Started
To get started on the process, an individual first needs to schedule a consultation appointment with the Bankruptcy Attorney In Tacoma Wa. At this meeting, the individual will learn more about Chapter 7 bankruptcy and what they can expect from the process.
The process takes place over a period of six months. The individual applying for Chapter 7 must submit information to go through mean’s testing. This proves their income against the median income of the state and ensures they are not making more. If approved, a third-party trustee will take over and ensure all assets are accounted for. Some of the non-essential assets of value can be liquidated to pay off the debts that are owed.
What Can Individuals Expect?
The process proceeds fairly smoothly and many people do not have enough valuable assets to be liquidated so the third-party trustee ends up absolving the debts they owe. Once the debts have been absolved, the individual does not owe any more payments on the debts and they are considered completely forgiven.
Most people are able to settle their debts in six months or less. The attorney will help through the entire process to ensure the right steps are taken. With the help of the attorney, individuals will feel much less stress over the process.
If you are ready to get started, you can schedule a consultation appointment now. The attorney will answer any questions and provide the important information that is needed for making the right choice.
Gathering all your financial records will help in the process. The attorney will review your records and see if you are a good fit for bankruptcy. If you feel like you are drowning in debt, now is the time to seek help. Call today to schedule an appointment.