Your Washington Bankruptcy Attorney
For many people, bankruptcy is an overwhelming option, but if you are looking for a way to save your home from foreclosure or just get some relief from creditors, it could give you the fresh start you deserve. At the Law Offices of Robert M. Gregg, our Vancouver bankruptcy law attorney protects the rights of individuals in southwest Washington struggling with debt.
There are a lot of myths about bankruptcy. Before you make any decisions about how you want to resolve your debt, talk to an experienced lawyer who can help you get straight facts and honest answers. The bankruptcy process varies from state to state, and we will help you understand your rights and options here in Washington and help you decide what kind of bankruptcy is right for you.
- Chapter 7 bankruptcy: If you qualify for Chapter 7 bankruptcy, you can eliminate all of your dischargeable debt within months. We will also help you understand the difference between exempt and nonexempt property, so you know what you can keep.
There are a number of bankruptcy alternatives, but many of them will just end up leading to more debt. We will make sure you understand what you have at stake before you make any major financial decisions.
Beware of Scams When Seeking Alternative Options
While alternatives to bankruptcy may be very tempting, they could end up damaging both your immediate and long-term financial prospects. For example:
- Debt consolidation programs are usually expensive and many just help you develop a plan that you could do on your own.
- Loan modification works very well for some people, but many of the programs out there are scams. We can look over any potential plan and make sure it is legitimate.
As you consider your options and look for advice, it can be hard to know who to trust. You have to be careful of companies that claim they can stop foreclosure with one phone call. It is a complex process, and it takes time to save your home.
People struggle with debt for many reasons. Whether you have lost your job and fallen behind on your mortgage, or you are unable to keep up with mounting medical bills, our Vancouver Chapter 7 and 13 bankruptcy attorney can help. We will guide you through the entire bankruptcy process and help you rebuild your credit, no matter which option you choose
Understanding Exempt Versus Nonexempt Property
Many people are misinformed about what they have to give up and what they can keep during the bankruptcy process. The exemptions vary from state to state, and each individual faces unique challenges. Taking a close look at your immediate and long-term financial picture, we will help you understand what to expect.
Washington uses both state and federal exemptions in the bankruptcy process, including a wild-card exemption. How these exemptions will apply to your case depends on a number of facts, including whether or not you file for Chapter 7 or Chapter 13 bankruptcy. We will help you determine how the following exemptions apply to you:
- Retirement plans and pension plans
- Savings account
- Household goods and furnishings
- Cash value of insurance policies
Rebuilding Your Credit After Bankruptcy
There is life after bankruptcy, and if you plan carefully, you will be able to get credit again soon. In fact, filing for bankruptcy can help you improve your credit and your long-term financial prospects. Many people who try to resolve debt problems on their own end up making their credit worse. The sooner you take action to resolve your debt concerns, the sooner you can start rebuilding your credit.
We know that the road to financial recovery is long, and we will not abandon you along the way. Once you have filed for bankruptcy, we will continue to help you with your credit. Here are the most important things you can do to rebuild your credit:
- Make timely payments.
- Manage your debt-to-income ratio and do not spend more money than you have.
- If you are planning to keep your home, try to continue to make payments during the bankruptcy process.
- Keep up to date with your credit report to make sure it is accurate.
Whatever debt concerns you may have, bankruptcy could provide you with the answers you have been looking for. Call us at 360-694-6505 or contact us online today to schedule a free initial consultation and we will help you decide if bankruptcy is right for you.