Tacoma, Washington, Bankruptcy Lawyers
Tacoma, Washington, offers easy access to SeaTac, Seattle, Vancouver, and Portland along the I-5 corridor. In addition to its convenient location, residents love its quality of life, vibrant arts scene (like ART at Point Ruston), museums (like the Museum of Glass and the LeMay Car Museum), restaurants, and entertainment. From Point Defiance Park to Puget Sound, the area’s natural beauty and temperate climate attract many new residents each year.
Tacoma’s increasing popularity also contributes to rising property values, taxes, and cost of living. Although the area’s economy remains strong, wages haven’t kept up with the cost of living. As the prices of gas and other necessities continue to rise, many long-time residents cannot afford to stay in the area.
Act now if you’re burdened with debt and worried about losing your home. Consumer bankruptcy laws can help many individuals with consumer debts, like medical bills, mortgage arrears, and credit cards.
How Can Bankruptcy Help Me Get Out of Debt?
Chapter 7 and Chapter 13 of the U.S. Bankruptcy Code are provisions that help consumers manage outstanding debts. Once you file a bankruptcy petition, your creditors must immediately stop trying to collect your debts. This “automatic stay” protection continues until your bankruptcy case ends.
If you file a Chapter 7 bankruptcy, a Trustee will take control of all your assets and debts. A Chapter 7 debtor can usually keep a vehicle for everyday use, the equity in their home, some personal items, pension and insurance plans, public benefits, and certain tax credits or incentives like the COVID-19 stimulus payments. Their other assets are sold and distributed to creditors. Even if there’s not enough to fully satisfy the debts, the process discharges all outstanding liabilities.
In a Chapter 13 plan, your attorney will negotiate a manageable payment plan for your existing debts. They may negotiate lower interest rates, a different payment schedule, or other terms to help you pay off and discharge these debts in full. Chapter 13 restructuring can be an option if your income is too high to file for Chapter 7 bankruptcy or if you have debt that cannot be discharged (like student loans or child support payments).
Will I Have to Go to Court?
The U.S. Bankruptcy Court for the Western District of Washington serves Pierce County residents. Although it has a Tacoma courthouse, nearly everything can be done virtually. The Court uses a secure online filing system for all documents, and most hearings are held via teleconference.
The experienced legal staff at Symmes Law Group, PLLC, can meet with you via telephone or teleconference (using Zoom or other available video platforms), so you don’t even need to come into our offices. We use secure online document signing and electronic authentication systems to keep you protected. The entire process is fast, safe, and convenient.
Contact a Bankruptcy Attorney Today
Take the first step towards reducing your financial stress: contact the experienced bankruptcy attorneys at Symmes Law Group, PLLC. We can help you understand your options, including credit counseling services, loan modification, Chapter 13 bankruptcy, or Chapter 7 bankruptcy. Set up a meeting today.