Chapter 13 Lawyer in Tacoma
Understanding Chapter 13 Bankruptcy
Chapter 13 of the U.S. Bankruptcy Code is a second option that allows you to reorganize your debts so that you can continue to repay them for a set period of 3-5 years before the rest is discharged. Also known as a Wage Earners Plan or reorganization bankruptcy, Chapter 13 allows you to keep your secured assets while you continue to repay your debt.
Benefits of Chapter 13 Bankruptcy
As mentioned above, Chapter 13 does not require you to give up any of your secured property for liquidation. You will be able to keep your home, car, furniture, jewelry, and other valuables unless you choose to liquidate them yourself to repay your debts. Chapter 13 does take longer than Chapter 7, but it allows you to remain in control and continue making payments, which can have less of an impact on your credit score. Once your repayment period is up, all remaining debts will be discharged and you will be able to focus on credit restoration.
Retain a Tacoma Bankruptcy Attorney
Set up a free case evaluation with a
Tacoma bankruptcy lawyer from Washington Fresh Start today to discuss your options. Chapter 13 may be the most beneficial option for you! We also understand that bankruptcy is not for everyone, however, and can counsel you in any alternatives to bankruptcy, as well. Attorney David Yando has more than 30 years of debt relief experience and can provide solid bankruptcy counsel.
Contact us as soon as possible to learn more about how we can help.