Is Bankruptcy Right for Me?
Yakima Bankruptcy Attorney
Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh financial start. The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. There are many things to consider when deciding if bankruptcy is right for you. First, restoring your good credit after a bankruptcy is a long uphill struggle. If your only concern is your credit score, it may be better to simply wait a few years for your negative credit entries to "fall off" your credit report. The credit rating of most people who have reached the point of considering bankruptcy however, is usually fairly low. Collection worries, harassing phone calls and making ends will often override credit report concerns.
Bankruptcy may make it possible for you to:
- Eliminate the legal obligation to pay most or all of your debts.
- Stop foreclosure on your house or mobile home and allow you an opportunity to catch up on missed payments.
- Prevent repossession of a car or other property
- Stop wage garnishment
- Restore or prevent termination of utility services
Filing for bankruptcy also allows you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe. Bankruptcy cannot cure every financial problem, and it does not eliminate certain rights of secured creditors. In most cases, you will not be able to keep secured property unless you continue to pay the debt. There are also types of debt that must be paid even if you file for bankruptcy, such as child support, alimony, most student loans, court restitution orders, criminal fines, and most taxes. Bankruptcy will not protect co-signers on a debt or allow for the discharging of a debt that arises after bankruptcy has been filed. A Yakima bankruptcy lawyer from our firm can explain the entire bankruptcy process and will make sure you understand the advantages and disadvantages of this debt remedy.
Debt Relief Help
Attorneys at Eastman Law firmly believe that when a person gets into financial trouble, they deserve a second chance. We will aggressively protect your rights and interests, while providing you with the care and respect you deserve. Our knowledgeable attorneys will make sure you have a thorough understanding of both the advantages and disadvantage of bankruptcy and help you map out the best strategy to achieve your financial goals.
Contact a Yakima bankruptcy attorney for professional and compassionate representation if you have debt problems.