Bankruptcy is sometimes frowned upon by society, but it is often the only viable way for some people to be able to overcome the debts they owe. When someone feels as if they are drowning in debt, it is their right to seek help from a Cheap Bankruptcy Attorney In Olympia WA. Getting help from a bankruptcy lawyer will allow the individual to learn about their options for bankruptcy and how it can help them eliminate the debts they owe.
How to Get Started
Great care should be taken in finding a Cheap Bankruptcy Attorney In Olympia WA. It is important an individual carries out careful research and learns as much as they possibly can about their options. Taking time to find the right attorney will make the process of seeking bankruptcy much easier.
Once the right attorney has been hired, the individual will need to bring in their financial records and any information they have on their income and assets. At least two years of tax returns will need to be brought in. The more information an individual can bring in to the attorney, the better equipped the attorney will be to offer debt help.
Types of Bankruptcy
There are different types of bankruptcy available, but there are two that are most common for individuals and couples to file. Chapter 7 is a type of bankruptcy that is preferable for those who want to quickly get rid of their debts. As long as the person’s income is not over the median of the state, they can be approved. Some people will be required to submit property for sale and the process is typically over in under six months.
There is also the option of Chapter 13. This type of bankruptcy is ideal for those who have a home that is about to go into foreclosure or they have mostly secured debts. In this type of bankruptcy, the individual will make monthly payments to the court. Most people are given three to five years to pay off their debts through a payment schedule.
If you would like to learn more about your options, visit the website. Call today to schedule a consultation appointment to get started.
