Bankruptcy Attorneys Near Me Lynnwood, WA

At Bountiful Law in Lynnwood, our attorneys recognize the difficulties of unmanageable debt. It’s frightening to think that you could lose your car, your home everything because of debt you currently have no way of paying off.

Don’t be afraid of your finances; get help from our experienced bankruptcy attorney's at Bountiful Law in Lynnwood. Contact us today

Bankruptcy Basics

Answers to common questions regarding bankruptcy. Get prepared before consulting with an attorney.

Chapter 7

Chapter 7 bankruptcy is the most common form of bankruptcy filing for Lynnwood clients.

Chapter 13

Chapter 13 involves making payments of all or some of your debts over time.

Chapter 13 Bankruptcy For Lynnwood, WA Clients

Chapter 13 is commonly referred to as “personal reorganization” bankruptcy, filing under Chapter 13 involves making payments of all or some of your debts to creditors over time. A typical Chapter 13 plan last from 3 to 5 years, and allows you to keep all or most of your property. A Chapter 13 bankruptcy may be necessary if you are dealing with any of the following issues:

  • Mortgage arrears

    Bankruptcy Attorneys Near Me In Lynnwood, WA

    Bankruptcy Attorneys Near Me In Lynnwood, WA

  • Car payment arrears
  • Past due child support
  • Past due spousal support
  • Taxes collection
  • Criminal fines
  • Embezzlement or fraud
  • Civil Judgment for intentional conduct (i.e. assault)
  • Reducing interest or payments to an affordable level
  • Want to keep valuable property

Depending on your income and the value of your property you may be required to pay towards some or all of your unsecured debts. However, at the end of your plan, most unsecured debts will be discharged.

If you are considering filing Chapter 13 bankruptcy, contact our office for a free 30 minute initial attorney consultation.

Chapter 7 Bankruptcy For Lynnwood, WA Clients

Chapter 7 bankruptcy is the most common form of filing. Often referred to as “liquidation” or a “fresh start” bankruptcy, a debtor is allowed to keep possessions up to a certain dollar value called “exemptions.” Anything above the allowed value can be taken and sold by the Trustee to pay down your debts. In most cases, you are able to keep or “exempt” all of the property you own.

Once you complete the process, many of your debts will be discharged. These include debts such as:

  • Medical Bills
  • Credit Card Debts
  • Eviction debts
  • Repossession debts
  • Most Lawsuits
  • Garnishments
  • Most business debts

Non-dischargeable debts include:

  • Past due child support
  • Past due spousal support
  • Student Loans
  • Criminal fines
  • Most taxes
  • Injuries cause by DUI

    Bankruptcy Attorneys Near Me In Lynnwood, WA

    Bankruptcy Attorneys Near Me In Lynnwood, WA

If you own a house or car, you must continue to pay these loans if you desire to keep the property. However, if you can no longer afford them, or simply no longer want them, you can give the property back to the lender. If there is still a remaining balance or penalties, it will be included in your discharge and the lender cannot come after you.

If you are considering filing chapter 7 bankruptcy, please contact our office for a free 30 minute initial attorney consultation.

Bankruptcy Attorneys Near Me Lynnwood, WA