Bankruptcy Attorneys in Tacoma, WA
Discover the Benefits of Bankruptcy
Are you struggling with debt and feeling like there's no way to clear it? Bankruptcy can offer relief and a fresh start, but navigating the legal process on your own can be just as overwhelming as the debt itself. That's where Pacific Cascade Legal comes in. Our Tacoma bankruptcy lawyers are here to guide you through every step of the process, from deciding if bankruptcy is the right option for you to filing your paperwork and attending your court hearings. With our experienced team on your side, you can feel confident that you're making the best decisions for your financial future.
See if bankruptcy is the right choice. Call (253) 300-4521 now.
Benefits of Bankruptcy
Filing for bankruptcy can seem daunting, but it can also provide significant benefits to those struggling with debt.
Here are some of the top advantages of filing for bankruptcy:
- Automatic stay: Once you file for bankruptcy, an automatic stay goes into effect, which means creditors must stop all collection actions against you, including harassing phone calls, letters, lawsuits, and wage garnishments.
- Fresh start: Bankruptcy can provide a fresh start by wiping out many types of debt, including credit card bills, medical debts, and personal loans. This can provide a sense of relief and breathing room to figure out how to solidify your financial foundation.
- Repayment plan: Some forms of bankruptcy develop a repayment plan to pay back some or all your debts over three to five years. This can be a manageable way to get back on track when a full discharge of your debts is not possible.
- Protecting assets: Depending on the type of bankruptcy you file, you may be able to protect certain assets through exemptions in the bankruptcy code. For example, in Washington state, you can qualify to protect your home, car, and retirement accounts.
- Credit score improvement: While filing for bankruptcy can initially have a negative impact on your credit score, it can also help improve it over time. By wiping out old debts and showing a commitment to paying back new ones, you can start to gradually rebuild your credit.
Overall, filing for bankruptcy can be a difficult but ultimately beneficial decision for those struggling with debt. It's important to work with an experienced bankruptcy attorney to help you navigate the process, so you can enjoy the benefits that could be available to you.
Choosing the Right Type of Bankruptcy
Bankruptcy can be a complex legal process, and there are several different types of bankruptcy cases to consider. Choosing the right type of bankruptcy for your unique situation is a task you should leave up to our experienced Tacoma bankruptcy attorneys. We’re here to guide you through the entire process, including the initial decision to use bankruptcy or not, and help you make the best decisions for your financial future.
Three of the most common types of bankruptcy include:
- Chapter 7 Bankruptcy: A common type of personal bankruptcy that uses a means test to determine eligibility. If successful, many unsecured debts can be discharged. We often recommend Chapter 7 Bankruptcy to people with large amounts of dischargeable debt.
- Chapter 13 Bankruptcy: A type of personal bankruptcy that can be used by people with regular income but significant debts that can’t be repaid. Chapter 13 Bankruptcy method creates a three-to-five-year repayment plan to make the debt manageable.
- Chapter 11 Bankruptcy: A bankruptcy specifically for businesses and business owners, Chapter 11 Bankruptcy finds ways to negotiate with creditors and minimize debts while still allowing the business to continue its day-to-day operations. A plan may include selling assets, downsizing, and other means to reduce the company’s overhead.
Call Now to Fight Overwhelming Debt
At Pacific Cascade Legal, our goal is to help you achieve financial freedom and a fresh start through bankruptcy. Or if bankruptcy is not the right option for you, then we can discuss alternatives. Our experienced Tacoma bankruptcy attorneys can evaluate your unique situation, explain your options, and guide you through the process from start to finish. Whether you're facing overwhelming credit card debt, medical bills, or other financial challenges, we're here to help.
Contact us today to schedule a consultation and take the first step towards a brighter financial future.