If you are facing bankruptcy and need to know what steps you should take, a free consultation with a Chapter 13 law office will provide you with the right advice. A bankruptcy attorney Tacoma WA locale offers affordable payment plans and flat fees to all clients who are seeking the best legal solution for Chapter 13.
A Chapter 13 allows all your debt to be consolidated into a single payment plan of up to five years duration. All kinds of debt can be included with this plan, such as overdue mortgage repayments, taxes, car loans, and unpaid child support. All your creditors will receive prior notice, so there cannot be any dispute upon discharge later on.
You first file a petition and other documents which show your income, budget, property and debts. Once you have proposed how you are going to repay your creditors, you get a trustee appointed to your case, who is responsible for managing the payments. Your creditors or trustee may object to your plan, in which case there may be a hearing before a judge, who will make the final decision.
After you have filed, you are required to attend a ‘meeting of creditors’ once a month. You, your trustee, and your Chapter 13 attorney in Tacoma usually attend these hearings. You will often need to agree with your trustee, though sometimes your attorney will defend you in court. Creditors usually speak to your attorney directly, or they may object in court, but they do not need to attend these meetings.
Chapter 13 is a good legal solution if you want to stop a foreclosure, though you will need to pay back mortgage in arrears over a five year period. The lender must accept your bankruptcy, under the conditions that the payment plan is legal, you remain current with it, and that the mortgage will be up to date at the end of the five years.
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.
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.