Vancouver, Washington, Bankruptcy Lawyers
Just across the bridge from Portland, Oregon, the City of Vancouver has a lot to offer, including lower taxes and many superior community services. As the cost of living, property values, and gas prices continue to rise, many Vancouver residents struggle to keep afloat.
If you’re worried about making ends meet and facing a mountain of debt, you may fear that declaring bankruptcy will mean losing your home. This can be a significant concern as the Vancouver housing market tightens beyond capacity. We have good news: for many individuals with consumer debts, like medical bills, mortgage arrears, and credit cards, consumer bankruptcy laws can help you eliminate the looming burden of foreclosure and regain your financial stability.
How Can Bankruptcy Help Me Get Out of Debt?
Chapter 7 and Chapter 13 of the U.S. Bankruptcy Code allow consumers to either discharge or restructure their outstanding debts. As soon as you file a bankruptcy petition, your creditors must stop trying to collect your debts. You are protected by the “automatic stay” provision of the Bankruptcy Code until your bankruptcy is resolved.
A bankruptcy petition under Chapter 7 turns over all your assets and debts to a Trustee. In most cases, you will be able to keep a reasonable vehicle, the equity in your home, some personal items, insurance and pension plans, public benefits, and some tax credits or incentives like the pandemic stimulus payments. Your other assets are sold and distributed to your creditors. If there’s not enough to fully satisfy what you owe at the end of the process, your debts are discharged.
In a Chapter 13 plan, your attorney negotiates a plan for you to make manageable payments on your existing debts until they are fully satisfied and discharged. The plan may involve negotiating lower interest rates, a different payment schedule, or other more favorable terms. In cases where your income is too high to discharge your debts under Chapter 7 or where you have debt that is not dischargeable (like student loans or child support payments), Chapter 13 restructuring can be best.
Convenient Filing — No Traffic, No Travel
The U.S. Bankruptcy Court for the Western District of Washington serves Clark County residents. Although its courthouses are in Seattle and Tacoma, nearly everything can be done online or virtually. Court documents are filed in a secure online filing system, and most hearings are held via teleconference.
Symmes Law Group, PLLC, makes it easy to resolve your outstanding financial issues. Our experienced legal staff can meet with you via telephone or teleconference (i.e., Zoom or other video platforms), so you don’t even need to visit our offices. Secure online document signing and electronic authentication systems keep you safe and secure while making the entire process fast and convenient.
Contact a Bankruptcy Attorney Today
Contact the experienced bankruptcy attorneys at Symmes Law Group, PLLC, to discuss your options. We can help you understand your options, which may include loan modification, credit counseling services, Chapter 13 bankruptcy, or Chapter 7 bankruptcy. Set up a meeting with one of our attorneys today.