Yakima Bankruptcy Lawyer

Bankruptcy Help in Ellensburg

Many people struggling under the burden of substantial debt may feel that they have no options available to them. They may have considered bankruptcy, but dismissed it as an option due to being scared or having misinformation about the process. Factually, bankruptcy is a very effective means for helping an individual or business eliminate most or all of their debt and start fresh. If you have been seeking a solution to your overwhelming debt, it is recommended that you contact a Yakima bankruptcy attorney at Eastwood Law. Our attorney team possesses considerable experience in the area of bankruptcy law, and we have successfully helped many individuals return to a debt free life. We are available to provide you with in-depth assistance in the following areas:

Chapter 7 Chapter 7 is a bankruptcy method frequently referred to as "liquidation." It is the most commonly filed for bankruptcy type. In a Chapter 7 case, a debtor will liquidate (sell) certain assets and property in order to have the money needed to partially or fully repay their various creditors. Once the liquidation process is completed, the debtor will see their debts fully discharged. This typically occurs within a few months of the initial filing. Read more about Chapter 7...

Chapter 13 Chapter 13 is a type of bankruptcy that allows a debtor to formulate and engage in a payment plan with their various creditors. With the approval of a bankruptcy court, a person will devise a plan that allows them to pay off their debts in installments. Each installment is typically one lump sum, which is then divided and distributed to each of the creditors. Most Chapter 13 payment plans typically take between three to five years to complete. Click here to read more about Chapter 13...

Filing Process Each method of bankruptcy, be it Chapter 7, Chapter 11, or Chapter 13, has its own unique filing process. In general, each one is relatively complex, requiring substantial paperwork to be completed and filed at specific times. An experienced bankruptcy attorney can assist you in navigating the filing process in an effort to increase your chances of your bankruptcy petition being accepted. Read more about the filing process...

Bankruptcy Exemptions In a Chapter 7 filing, there are certain types of assets and property that are "exempt" from the process of liquidation. The exemptions available to an individual will be unique depending on their specific financial situation. In order to establish the exemptions you will be able to take in your Chapter 7 bankruptcy, it is recommended that you contact an attorney. Find out more about bankruptcy exemptions...

Debt Settlement For those with unmanageable debt, debt settlement may be a viable alternative to bankruptcy. This process involves a person "settling" their debt with their creditors, typically by giving them a lump sum of money that is somewhat less than the entire amount owed. Debt settlement is possible in many circumstances as a creditor would rather accept a percentage of the debt owed rather than take costly legal action against the debtor. Read more about debt settlement:

Debt Relief There is a variety of debt relief options for those seeking a way to eliminate their significant debt. In addition to bankruptcy, there is debt settlement, debt negotiation, and debt consolidation. Each one of these methods (including bankruptcy) has its advantages and disadvantages, so it is advised that you consult with an attorney who can determine which method is best for you. Click to read more about debt relief...

Means Test Before you can qualify for Chapter 7 protection, you must first complete a "means test." This test is used by the bankruptcy court to determine if you are experiencing genuine financial trouble. In taking the test, your average income over a period of months will be compared with the average income of the state. If you fall below the state's average, it is likely that you will automatically qualify. Find out more about the means test...

Loan Modification If you are currently unable to afford your monthly mortgage payment, there are a number of options that you can explore in order to possibly avoid foreclosure. One of these options is a loan modification. In granting you this modification, your lender will alter the terms of your mortgage in order to make your monthly payments more affordable. Read more about loan modification...

Repossessions When a person becomes unable to make payments towards a loan they have taken out for a secured item (such as a car, boat, or piece of industrial equipment), that item may be repossessed by the original creditor or lender. There are many ways that you can avoid a repossession, including debt settlement and bankruptcy, and an attorney can assist you in utilizing the method that is right for you. Click to read more information on repossessions...

Discharging Your Debt The discharge of your debt will be the end result of filing for bankruptcy, no matter the form of bankruptcy you have chosen. Should you file for Chapter 7, you may be able to have your debts eradicated in a few months. Debt discharge in a Chapter 13 filing may take a number of years, but you will have the benefit of avoiding the liquidation process and the possible loss of important possessions. Read more about discharging your debt...

Life After Bankruptcy Many people hesitate to file for bankruptcy because they are afraid of what their life will be like after the process is complete. The point of bankruptcy is to obtain a fresh financial start, so in reality, most people find their lives to be much simpler and stress-free following the completion of bankruptcy proceedings. Click to find out more about life after bankruptcy...

Stop Creditor Harassment Creditors and debt collectors are regulated by the Fair Debt Collection Practices Act (FDCPA), a set of laws that describe what creditors can and cannot do when they seek to recover a debt from someone. If you are being harassed by creditors and feel that they are in violation of this act, it is to your benefit to contact a bankruptcy attorney who can protect your rights. Read more on stopping creditor harassment...

Is Bankruptcy Right for Me? Bankruptcy has been proven to provide effectively debt relief for struggling Americans, but it may not be the correct method for you. Your particular financial situation may call for another option, such as debt negotiation or debt settlement. An attorney can review your financial information in order to determine whether you should pursue bankruptcy or an alternate method. Click to read more regarding whether or not bankruptcy is right for you...

Do I Qualify for Bankruptcy? There are certain qualifications that you must meet if you are intending to file for bankruptcy, both for Chapter 7 and Chapter 13 cases. Filing for Chapter 7 will require that you complete a means test. Chapter 13 will require that you make enough income to fund a payment plan for your creditors. Click for information on further bankruptcy qualifications...

Filing Process - Before and After Filing for bankruptcy is a multifaceted process. There are steps to be completed before one can file their petition, and factors to account for once the filing process has completed. Making a mistake at any point, before or after, can result in your petition being denied or your financial situation worsening. Acquiring the help of any attorney when you file for bankruptcy can reduce the danger of making costly errors. Read more about the before and after of filing for bankruptcy...

Foreclosure If you have accumulated a large amount of debt, you may be struggling to afford your monthly mortgage payments. If you go long enough without making a payment, your lender may attempt to foreclose on the property and take your home away from you. A bankruptcy attorney can take a variety of foreclosure defense actions on your behalf that may result in you being able to keep your home. Read more on foreclosure...

The Importance of Hiring a Bankruptcy Attorney

Bankruptcy is not an easy process, and many who attempt to file on their own do not succeed. If you hire a bankruptcy attorney to represent you in your case, they will be able to utilize their knowledge in an attempt to expedite your filing and increase your chances of your petition being accepted.

Contact a Yakima bankruptcy attorney who will provide you with immediate assistance if you are considering filing for bankruptcy.