When someone needs to file for bankruptcy, they have to educate themselves enough to know where to begin the process. This short guide will help to provide guidance to those who may hire a Bankruptcy Lawyer In Tacoma Wa and provide them with a basic overview to help them navigate their way through the process.
Get a Thorough Knowledge of the Financial Situation
Prior to hiring a Bankruptcy Lawyer In Tacoma Wa, people need to have a thorough knowledge of what bills they owe and compile an itemized list of all creditors. After that, they should determine their estimated income. By taking these two seemingly easy steps, they’ll know what they’re dealing with from the outset and save time in the future.
Obtain a Credit Report
Getting a credit report has never been easier. People can go online and get them anytime and at no cost. This information can be invaluable to bankruptcy attorneys who want to help their clients solve their financial woes.
What Types of Bankruptcy Are There?
Chapter 7 bankruptcy is a very common form. It is a quick process and quite thorough when it comes to erasing debt that is unsecured, such as medical bills or credit cards. However, since it can only be used once every seven years, people need to be careful when they use it. Chapter 13 is a longer process and can take several years to complete. Rather than giving up their property, people repay a portion of their debts and live within a tight budget that is scrutinized by the bankruptcy court trustee. It is akin to undergoing a financial reorganization.
Find a Ful Service Attorney
When looking for a debt relief agency, clients want to know they can deal with an attorney who also has experience with family law and personal injury law as well as bankruptcy law. Potential clients considering any form of bankruptcy should insist on a free consultation and ask about the availability of payment plans. They need to find an attorney they are comfortable with and can count on to stop the collections, foreclosures, and other circumstances pertaining to their finances.