Overview of Bankruptcy in Everett
Comprehensive Bankruptcy Guidance in the Greater Seattle Area
There is a pervasive and irresponsible myth that filing for bankruptcy constitutes an admission of failure or defeat. The truth is that the vast majority of our clients have not made financially irresponsible choices. Many have experienced the negative consequences of overwhelming debt – including foreclosure, creditor harassment, repossession, and wage garnishments – through factors beyond their control.
Our team at The Law Office of Ken Schneider, P.S. recognizes that filing for bankruptcy is not the high point of your life. However, you should not feel embarrassed about retaking control of your financial situation. Bankruptcy laws are designed to allow honest debtors a fresh start.
If you are struggling with debt and are considering filing for bankruptcy, do not hesitate to reach out to our firm. We can provide an overview of bankruptcy in Everett and help you understand what to expect.
Bankruptcy Can Get You Back on Track
Unfortunately, debt begets debt, potentially resulting in mounting obligations that become difficult to catch up on. It is always advisable to seek qualified legal representation when you are drowning in seemingly insurmountable debt.
Most people put off contacting us for longer than they should. Many will misguidedly empty their retirement accounts or life savings in an effort to combat growing debt and avoid bankruptcy. Some even experience negative physical consequences resulting from the stress of endless collection calls.
No matter how dire your financial circumstances may seem, you do not have to live with overwhelming debt. When you come to us for help, we can review how bankruptcy can eliminate debt and help you financially recover.
What Bankruptcy Accomplishes
Filing for and completing a Chapter 7 or Chapter 13 bankruptcy typically allows you to discharge unsecured debts. This means you will generally be able to eliminate credit card debt, medical debt, personal loans, and unpaid utility bills. We can also help you explore your options for reducing and eliminating tax debt.
Bankruptcy also provides relief as soon as you file. Upon submitting your filing, you will benefit from the “automatic stay,” a court order that halts all collection actions. In other words, filing for bankruptcy puts a temporary stop to any imminent foreclosure, repossession, wage garnishment, or collection lawsuit. Creditors will also have to leave you alone until your bankruptcy has concluded. We can help you combat creditor harassment before, during, and after your bankruptcy.
While bankruptcy will likely negatively affect your credit rating in the short term, a Chapter 7 or Chapter 13 filing (along with responsible and strategic spending going forward) can put you on the path to a higher credit score in the long term. Bankruptcy can also facilitate a drastically improved quality of life and free up financial resources to address debts that cannot be directly discharged.
Qualifying for Bankruptcy Is Not Impossible under the New Laws
Bankruptcy laws were substantially overhauled in 2005, changing many elements of the process – including eligibility requirements. Sensational media coverage and persistent rumors have led many to mistakenly believe that they can no longer qualify for bankruptcy. In reality, most people are able to receive the same bankruptcy relief under the new laws as they could before the change.
Most of our clients secure relief through a Chapter 7 bankruptcy filing. With our guidance, they lose little to no property, make no additional payments to unsecured creditors, and complete their bankruptcies within four months of filing.
We also provide assistance with Chapter 13 bankruptcy filings. Some clients will not qualify for Chapter 7 relief, but many choose to specifically choose Chapter 13 due to the advantages this type of filing offers in certain circumstances.
Do not assume you cannot qualify for bankruptcy relief. You should also avoid making assumptions about how a bankruptcy filing would play out. Our attorney can provide you with a thorough overview of bankruptcy in Everett and can evaluate your eligibility for Chapter 7 and Chapter 13 relief.
The Law Office of Ken Schneider, P.S. represents individuals and small businesses that need the benefits and relief of bankruptcy protection. Most of our clients are based in Snohomish County, which includes Everett, Marysville, Arlington, Granite Falls, Lake Stevens, Snohomish, Monroe, Mill Creek, Lynnwood, Bothell, and Edmonds. We also represent clients from Island, Skagit, Whatcom, and King Counties.
If you are struggling to manage your debt, we want to help. We can review your bankruptcy relief options, walk you through the filing process, and help you understand what types of debt you can expect to eliminate.
“Ken Schneider is a great attorney. He helped me and my family get through one of the toughest times in our lives. He was able to guide us and help pick the best plan that fit my family. I have recommended him to others and will continue.”- Reese
“I not only have come away with the best scenario in a difficult situation, but I also have come away with peace of mind and hope. He came highly recommended and I can highly recommend him to others.”- Melanie
“Ken was right on the case, knew the complex facts quickly and accurately, and was successful at holding the trustee accountable to bankruptcy law.”- Mike
“Ken has a vast knowledge of Chapters 7 and 13 and will counsel you and make sure that he guides you to help you make the right decision. We know of at least 2 other friends that have hired Ken and they are very happy with Ken’s results and knowledge.”- Shaun
“I cannot say enough good things about Mr. Schneider. He is so kind, upfront, and intelligent.”- Stacy