Protect your financial well-being with Chapter 7 & 13 bankruptcy debt relief help in King County, WA.

Are you in so much debt that’s there’s just no way to get out from under it? Are you getting harassed by creditors and collection agencies at home and work? Do you wish there were some way to start over financially so that your life could go back to normal? If so, our Bellevue bankruptcy attorneys are here to help. Whether it is through a Chapter 7 bankruptcy, or a Chapter 13 bankruptcy, if you qualify, filing for debtor protection just might be your best option.

How can I learn more about filing for bankruptcy and whether or not I can qualify for protection under the Federal and Washington State bankruptcy laws?

Great question. Here are some phenomenal resources if you want to learn more about bankruptcy protection and how it can help you and your family. One of the very best general sources of information regarding bankruptcy is the United States Court’s “Bankruptcy” general information page. Similarly, if you are looking for helpful information about filing a Bellevue Chapter 7 bankruptcy, we strongly recommend the United States Court’s “Chapter 7 – Bankruptcy Basics” page. And, if you are looking for really good information about filing for Chapter 13 bankruptcy protection in King County, we highly suggest that you visit the United States Court’s page, “Chapter 13 – Bankruptcy Basics”.

The United States Bankruptcy Court’s Western District of Washington website is also a great resource for general information about filing for bankruptcy here in King County. When your Bellevue bankruptcy petition is filed, it will be filed in the Seattle Federal Courthouse. This is also where your “Meeting of Creditors” hearing will be held. The Western District of Washington’s website also has some good general information about both Chapter 7 and Chapter 13 bankruptcy cases. It also details how filing for bankruptcy affects your credit. 

Our Bellevue bankruptcy lawyers routinely meet people who worked hard their whole lives, but suddenly find themselves in a dire financial situation. They’re embarrassed and often feel as though they’ve failed. It’s highly likely that creditors and collection agencies made them feel this way because they know what happens to their debt if they file for bankruptcy. 

Don’t give in to the unscrupulous tactics used by creditors. Contact one of our King County bankruptcy attorneys and get the facts. Bankruptcy laws are meant to help you, not make you feel like a failure. In most situations, filing for bankruptcy is the most responsible way to deal with uncontrollable debt. We offer a free consultation, so you have nothing to lose by contacting our law office today. Quite the contrary, it could be the smartest financial decision you’ve ever made.

Filing for Chapter 7 or Chapter 13 bankruptcy can stop home foreclosure and help you start over financially.

• When you file for bankruptcy, all collection stops immediately, including those harassing phone calls.
• It costs nothing to find out if you qualify for bankruptcy – simply give us a call.
• Filing for bankruptcy allows you to discharge all or most of your unsecured debt like credit cards and medical bills.
• Whether to file Chapter 7 or Chapter 13 will depend on your income and financial situation.
• Don’t let debt control your life – Take control of your finances with help from our experienced Bellevue legal team.

There is an unwarranted stigma associated with bankruptcy. Collection agencies love this because it helps them maintain pressure on debtors. In truth, without bankruptcy our nation’s economy would be in bad shape. Over a million people declare bankruptcy every year, on average. Without this option, many of these people would be homeless and have no hope of ever living a normal life.

If you fail to make a credit card payment for as little as 3 months, they will quite likely sell the debt to a collection agency. You may have already paid for your debt many times over, but high interest rates prevent you from putting a dent in the principle. They may offer you a “deal” to pay off the debt at a reduced rate by urging you to cash in your retirement. Not only will this likely make your financial situation worse, but your credit will most likely take longer to repair than if you’d just declared bankruptcy to begin with.

Take a look at the information below, which was prepared by our Bellevue bankruptcy lawyers. Many of your questions may be answered, but if you would like to take the first step toward a better financial future, simply give us a call.

Bellevue, Washington, bankruptcy court, and you.

Bellevue is one of Seattle’s largest suburbs and one of Washington’s most prosperous cities. There is a lot to love about living in this part of the country. Bellevue has beautiful neighborhoods and endless opportunities to enjoy the best parts of city life and the great outdoors. You can hike a mountain during the day, and enjoy fine dining at night. If you would like to learn more about Bellevue, check out this section of the municipal website featuring interesting facts and statistics. 

The name Bellevue comes from French origins and means “Beautiful View.” White settlers came to the area to mine and log the forest sometime around 1880. Twenty years later, Bellevue was a farming community known for delicious strawberries and vegetables. Today, it’s a hub for the high-tech industry and one of the most modern cities in America. Plus, Seattle’s proximity means there is always something exciting to do. 

For some good general information about the City of Bellevue, we suggest the city’s Wikipedia page. For excellent information on what makes Bellevue such a livable and vibrant city, we recommend the city’s page on the Livability website. Another great resource for why Bellevue is such an amazing place to live is the city’s page on Niche. 

Additionally, if you are seeking information about Downtown Bellevue, this site is another great resource. Similarly, if you are looking for information about business and commerce in Bellevue, it’s Chamber of Commerce site has tons of helpful information. And, one of the best all-around informational sites regarding the city is Bellevue.com. 

Unfortunately, however, even people living in one the nation’s most prosperous communities sometimes get sick or lose their job. In a matter of weeks they may fall so far behind on bills that they’re getting phone calls both day and night, and at risk of home foreclosure. If this happens to you, do not wait for the problem to go away. In our experience, it’s better to address financial problems swiftly by talking to an experienced bankruptcy lawyer. 

If you do file for bankruptcy, your case will be handled in the United States District Court for the Western District of Washington, which is located in Downtown Seattle. It will also be necessary to hold a meeting of creditors, and this will take place at the Seattle U.S District Courthouse. If you would like to learn more, simply contact our law office for a free consultation. The US District Court’s local Western Washington bankruptcy site is also a great source of information for the Local Rules that apply to all King County cases, the Local Forms that apply to all Bellevue bankruptcy cases, and the Local Bankruptcy Filing Statistics here in the local Puget Sound Region. It’s also got a great local Legal Services and Resources page.

Do I qualify for bankruptcy in Washington State?

If you decide that declaring bankruptcy is your best option, the next step is to determine whether you qualify. The only way to make this determination is to talk directly with one of our King County bankruptcy attorneys, but in the meantime, you can review this page for some basic information.

If you make less than the median income for a household living in Washington State, you may qualify for Chapter 7 bankruptcy. If you make more than the median Washington household income, you may still qualify for Chapter 13 bankruptcy. Both allow you to discharge unsecured debt, but the latter requires that you make monthly payments after your debt is consolidated. This means you may have to pay back some of your unsecured debt, but in most cases it’s completely or mostly wiped out.

Don’t let a creditor or bill collector convince you to make bad financial decisions.

Creditors and collection agencies want one thing – money. They don’t care whether you lost your job or if a family member was terribly sick. Many of them will say just about anything to get money out of you, and some may even threaten you. They may tell you that your credit will be ruined forever if you don’t make some kind of payment. They may even try to convince you to cash out your retirement to pay off a bill that would have been entirely discharged had you just declared bankruptcy.

If you are really struggling financially, do not pay another dime on your debts until you speak with one of our Bellevue Chapter 7 bankruptcy attorneys. If you qualify, a Chapter 7 bankruptcy just might be the answer to your prayers. Imagine what it would be like to never have to pay your bills again. The entire process takes about four months. And, once it’s finished, all of your debts are gone! Poof! Vanished into thin air. Many of our bankruptcy clients are downright shocked at how easy the process is from start to finish.

Whatever you do, keep a few things in mind.

First, remember that debt collectors are not your friends.

They do not care about you or your family. They will say or do anything to get what they want. And, their goal is to get you to part with your money because this is how they get paid most of the time, on a commission. Our bankruptcy attorneys will give it to you straight. If we can help, great, we will let you know. But, if bankruptcy is not your best option, we will help you explore other avenues of King County debt relief.

Also, remember that debt collectors will never give you honest advice about your finances. They do not want you talking to a bankruptcy lawyer because they know the truth. You don’t have to live in fear of the phone ringing or suffer the embarrassment of a bill collector calling your boss at work. The second you file for bankruptcy, all collections stop. They can’t call you or even write you a letter. If they do, we can hold them responsible for attorney’s fees and punitive damages.

You may even feel guilty about not paying a debt because you’re a good person who always tries to do the right thing. Keep in mind that credit card companies routinely offer lines of credit with outrageous limits and high interest rates hoping you fall behind. This is part of their business model, and it’s a dubious business tactic that preys on innocent people.

You can fight back against these dubious business practices and get a fresh start financially at the same time. Our Bellevue bankruptcy lawyers can help.

Destroying the myths associated with bankruptcy.

There are a lot of myths about bankruptcy, many of which people believe. We took a list of these myths and wrote them down so that you can better understand the truth behind these common misconceptions. The bottom line is that bankruptcy helps hundreds of thousands of people regain financial independence every year. They are saved from home foreclosure. They rebuild their credit. They stop harassment from creditors. They enjoy a more prosperous future.

Let’s break down these falsehoods one by one with a little myth busting by one of our Bellevue bankruptcy attorneys.

Myth – Filing for bankruptcy means you failed.
There are a number of different reasons why people equate bankruptcy with failure. In our consumer culture, many people think that only deadbeats fail to keep up with their financial obligations. Our Bellevue bankruptcy lawyers, however, know the truth. We are all just one heartbeat away from financial chaos. One prolonged illness is all it takes to reassess that assertion. Creditors and collection agencies try to make debtors feel like failures, which certainly doesn’t help.

In many ways, the slow process of falling behind on bills can make someone feel like a failure. Declaring bankruptcy may seem like the final nail in the coffin, when it’s actually the smartest, most responsible way to handle unrelenting debt. A few months later, when their debt is discharged and their credit immediately starts to improve, they realize that bankruptcy is the opposite of failure.

Myth – If you file for bankruptcy, you will lose your car, assets, and savings.
Debt collectors love to keep this myth viable because it suits their interests. The media doesn’t help either because movies and TV shows often depict bankruptcy in this way. The truth is that in over 90% of Washington bankruptcy cases, the people who file keep their car, their home, and their possessions. They also save 100% of their retirement and up to $125,000 in home equity while discharging all or most of their unsecured debt.

Obviously, your case is unique, so it’s vital that you talk to one of our Bellevue bankruptcy lawyers about your financial situation. Bankruptcy isn’t right for everyone, but the pervasive myth that you’ll lose everything by filing is ridiculous. If you have questions about your personal property, give us a call. One of our King County bankruptcy lawyers will be happy to review all of your legal rights and options so that you can make a truly informed decision about what is best for you and your family.

Myth – Bankruptcy will solve all of my financial problems.
Bankruptcy does allow you to press the financial reset button, but there are some financial problems it simply cannot solve. You have to commit to a debt-free future to avoid repeating the same scenario. Think of it like a weight loss diet. You can lose weight and reach your goal, but if you go back to poor eating habits when the diet is over, you will quickly gain it back.

Debt is like that extra weight, and if you’re not careful it can quickly return. If you live a debt-free lifestyle, your credit will swiftly improve. Keep in mind that student loans cannot be discharged via bankruptcy. Neither can certain fines. It’s important to understand the limitations of bankruptcy so you’re fully prepared for what comes next.

Myth – Bankruptcy ruins your credit.
The opposite is actually true. Bankruptcy allows you to build credit once your debt is discharge. Many people are surprised by how quickly their credit rating improves.

Chapter 7 bankruptcies appear on credit reports for 10 years after the debt is discharged. However, lenders will offer you loans and lines of credit if you show that you are managing your finances effectively. Remember that millions of people declare bankruptcy every year. Creditors would be missing out on a massive market if they failed to extend credit to honest people that declare bankruptcy.

Chapter 13 bankruptcies will appear on credit reports for 7 years, but all of the above remains true. You will be able to get credit for a car loan or a credit card as long as you prove you’re responsible.

Settling an old debt with a collection agency will have a more dire effect on your credit score than filing for bankruptcy. Remember that when they threaten you, or tell you that making a payment will help your credit. It’s not true and they know it. Creditors do not make money by giving you accurate financial advice.

If you have questions about how filing for bankruptcy will affect your credit, talk to one of our Bellevue bankruptcy attorneys today. They can help you to understand the truth about filing for bankruptcy and your credit score. In most cases, your credit score has a lot more to do with how you manage your credit and your finances after filing bankruptcy, as opposed to the actual act of filing for bankruptcy.

Myth – If you’re going to file for bankruptcy, max out your credit cards because you have nothing to lose.
This is a dangerous myth that can get you into serious trouble, if you believe it. The bankruptcy court can deny your petition for bankruptcy if they think you went on a shopping spree at your creditor’s expense. They can even prosecute you for bankruptcy fraud. If you are having financial problems, take the responsible road by contacting one of our Bellevue bankruptcy lawyers. We will help you develop a plan designed to tackle debt responsibly.

A trustee is appointed to you when you file Chapter 7. They are authorized to sell your assets and use the money to pay off creditors equally. However, most property is exempt from this process, so it’s unlikely you will actually lose any of your possessions. Also exempt from seizure are retirement accounts, public benefits (like unemployment), and child support. The goal of bankruptcy is to give you a fresh start, which would hardly be possible if you lost everything.

All unsecured debt will likely be wiped out, including credit card debt and medical bills. There are also exemptions for household items, automobiles, and home equity, which often prevent these items from being seized.

Should I file Chapter 13 bankruptcy?

If you earn too much money to file Chapter 7, you may still qualify for Chapter 13. Your debt is consolidated into a monthly payment plan that lasts for 3 to 5 years. Once this time period is completed, your remaining unsecured debt is discharged, as long as you keep up with your payments.

Chapter 13 allows you to factor in your mortgage arrears and penalties into the monthly payments, which is a great way to prevent foreclosure on your home. It’s why Chapter 13 is often called the “home saver” plan. If you have questions about whether or not you can qualify for Chapter 7 bankruptcy protection or Chapter 13 bankruptcy protection, you owe it to yourself to get the facts.

Talk to one of our King County bankruptcy attorneys today. They can analyze your income, your household, and your expenses, and then give you a pretty good idea of what bankruptcy relief you can qualify for here in Washington State. Often, one of our lawyers can pre-qualify you over the phone.

What is the automatic stay?

Immediately after filing for bankruptcy, something called the “automatic stay” goes into effect. This means that creditors and unscrupulous collection agencies have to leave you alone. They can’t call you or send you a letter. If they do, simply let your attorney know and they will put a stop to it.

This is one of most people’s favorite aspects of bankruptcy because they finally experience some peace. You will be surprised how amazing it feels to have this huge burden suddenly removed from your life.

Frequently asked questions.

How much does filing for bankruptcy cost? We need to know specifics about your financial situation to accurately answer this question. However, we offer low flat fees at an affordable price. We also offer flexible payment plans. When you consider the costs of not filing for bankruptcy, you’ll see how affordable it truly is.

How long will it appear on my credit report?
10 years for Chapter 7, and 7 years for Chapter 13.

Will my credit score go to zero?
No, but there’s no way to predict how your score will be affected after declaring. Many people actually see their score increase.

Can I pay back family and friends that loaned me money?
You should not pay them back until a year has passed since filing. When a debt is discharged, you don’t have to pay it back legally, but you still can if you want.

Can I get rid of a student loan that isn’t federal?
No.

Can I keep my car and/or house?
For sure. In fact, almost everyone does. You need to remain current on mortgage payments, and if you refinance it should be done though a different bank.

How long does the entire process take?
Chapter 7 bankruptcies take from 3 to 4 months. Chapter 13 bankruptcies take 3 to 5 years.

How much will I have to pay into a Chapter 13?
This is determined on a case-by-case basis and depends on a variety of factors. After a means test that determines your income, we subtract what’s allowed and get a “magic number” that tells us how much you’ll have to pay to unsecured creditors. We then add your car, IRS debt, mortgage arrears and penalties, and any unsecured debt you wish to keep. Your trustee fee and remaining attorney’s fees are than added to this number. If the number is less than the total debt divided by the length of the payment plan, then you have a 100% plan. Obviously, this is a bit complicated if you don’t understand the variables. Your attorney will be more than happy to help.

Can I keep one of my credit cards?
While you must report all debt, if you have a credit card with zero balance, you should be able to keep it, but it’s ultimately up to the financial institution.

I owe money to friend and/or family, but do I have to list them?
You must list all debt and who you owe it to, whether you can discharge it or not.

When I start rebuilding credit?
For Chapter 7 bankruptcies, you can start rebuilding your credit the second it’s discharged. For Chapter 13 bankruptcies, you can rebuild credit when your payment plan is successfully completed.

Contact us today for a free consultation with one of our Bellevue bankruptcy lawyers.

Don’t let debt rule your life. Take control and get a fresh financial start. A better future is only a phone call away, so contact our law office today and let one of our professional bankruptcy lawyers help you determine if you qualify.

(425) 953-4061