Washington State Chapter 13 Bankruptcy Lawyers

Let us help you save your house.

Call now (253) 591-9191

Make monthly payments you an afford.

We offer:
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Stop your Tacoma home from being repossessed or foreclosed upon.
Given the way that the real estate market has turned for the worse over the last 18 months, many consumers in Western Washington are finding that they are simply unable to afford the home that they may have recently purchased or refinanced.

Moreover, to make matters worse, because of the state of the economy our local housing market today, many homeowners are also without the option of selling or refinancing their property. If you are like many of our clients, you are now without any option. You want to pay your mortgage and you want to stay in your home, but there is simply no way for you to do so.

We understand your situation are are here to help. We help hundreds of people just like you every year. The bankruptcy and its home foreclosure laws are here for your protection. With the help of Washington State's bankruptcy laws and home foreclosure law protections, we assist people in either keeping their home and restructure their debts through a Chapter 13, or we help them give their home back to the bank and eliminate their liability to pay on their outstanding mortgage loan.

If you need an attorney that can stop the foreclosure of your home by helping you file for Chapter 13 bankruptcy, we can help and advice you on how to best proceed. Contact our firm today to schedule a free consultation and personal analysis of your situation.

How does bankruptcy stop home foreclosure?
If your home is currently in foreclosure, or headed there, filing a Chapter 13 bankruptcy prior to the foreclosure sale will stop your home from being taken out from underneath you. We will then structure a monthly payment plan that you can afford and that allows you to keep you house.

This Chapter 13 bankruptcy and a carefully structured payment plan will also allow you to pay your monthly mortgage payment and the payments you fell behind on, often through no fault of you or your spouse. Depending on your situation, you may also be able to eliminate all of your unsecured debt in your Chapter 13 plan, or pay back only a fraction of what you can afford based on your current income and monthly expenses.

The foreclosure process varies from mortgage company to mortgage company, and if your are in danger of being foreclosed upon, it is important to speak with one of our lawyers as soon as possible. in most cases, homeowners will be served a summons and complaint that signals the mortgage companies intent to forcibly evict you and sell your house out from underneath you.

In most cases, you have approximately 90 days from the time you are served before your house is sold. We advise you to contact an experienced Washington State home foreclosure and bankruptcy attorney as soon as possible after you are served to stop the home foreclosure process and craft a workable plan that allows you to stop the foreclosure and save your house.

What exactly is a Chapter 13 Bankruptcy Plan?

At its core, a Chapter 13 bankruptcy plan is really nothing more than a “structured” debt repayment plan. Think of it as a type of "debt consolidation" plan where you end up making only one monthly payment to the trustee. This repayment plan will last from three to five years and will be based on your ability to pay given your income, and, in certain circumstances, your assets.

During your initial consultation, our attorneys will explore all of your options, including whether or not pursuing a Chapter 13 bankruptcy is your best option. In most cases, our clients are best served by filing a Chapter 7 bankruptcy petition.

In certain instances, however, this is simply not possible. For example, you simply may not qualify for a Chapter 7 bankruptcy based on your income and our analysis of your debts and assets under the new bankruptcy “means test”. In these situations, filing for a Chapter 13 bankruptcy may be your only viable option.

In determining whether or not a Chapter 13 bankruptcy is appropriate in your case, you and your Renton bankruptcy attorney will create a plan to pay off a percentage of your debts over the life your plan. We will craft a plan that is specifically tailored to you, your debts, and your ongoing monthly cash flow needs.

Filing for a Chapter 13 Bankruptcy has other benefits as well.

The simple truth is that every case is unique based on your specific financial situation. Under certain circumstances, however, filing for a Chapter 13 bankruptcy here in Washington State may be in your best interests because it will allow you to protect and preserve assets that would otherwise have to be forfeited to the trustee in a Chapter 7 proceeding.

Don't simply forfeit your house.

Additionally, if you own your home and want to protect it from foreclosure or you simply need time to catch up on your payments, pursuing a Chapter 13 will probably be your best option. In the vast majority of situations, we are able to prevent a foreclosure from occurring and structure a repayment plan that enables you to get your mortgage caught up so long as you are able to make your monthly Chapter 13 payments to the trustee.

There may also be certain tax benefits to pursuing a Chapter 13 over a Chapter 7. In certain instances, you may be able to discharge some of your tax debts by filing a Chapter 13 bankruptcy instead of a Chapter 7.

The terms and amount of debt repaid under each Chapter 13 plan varies depending on several factors.

Under the terms of your Chapter 13 bankruptcy payment plan, you will enter into an agreement to pay back 100 percent of your secured debt over a 36 to 60 month period. Think of secured debt as debt that is backed by certain property, such as your house or your vehicle.

After you and your Renton Chapter 13 bankruptcy attorney have thoroughly reviewed your finances, we will determine a budget based on what you can afford to pay on a monthly basis. During the term of the plan, you will also pay back a certain percentage of your unsecured debts.

Unsecured debts are simply debts that have no security or collateral. Examples of unsecured debts include credit card bills, medical bills, judgments from lawsuits, payday loans, utility bills, and many others. The percentage of your unsecured debts that is repaid is determined by several factors, which we will review with you in detail prior to structuring your repayment plan.

One monthly payment that you can afford.

As noted above, whether you live in Renton, WA or elsewhere in King County, a Chapter 13 bankruptcy plan is really nothing more than form of debt consolidation. Instead of making numerous payments every month to multiple creditors, you will simply make one "structured" payment to the bankruptcy trustee based on what you can afford each month. The trustee will then in turn pay your creditors.

The good news is that filing for a Chapter 13 bankruptcy puts an immediate stop to home foreclosure, all harassing phone calls, eviction proceedings, wage garnishments, and repossessions.

We are Tacoma, Washington Chapter 13 bankruptcy attorneys and Pierce County County debt relief lawyers. We assist people seeking protection under the state and federal bankruptcy code. If you Pierce County property is facing foreclosure, or if you are in financial crisis and in need legal advice or help, we invite you to call our offices to learn more about your rights and options and how the bankruptcy laws are here to protect you.

Are you facing a Pierce County or Tacoma foreclosure?

We may be able to help you save your house.

Call now (253) 591-9191