A Bankruptcy Lawyer In Tacoma Wa helps people in financial distress get a fresh start with a Chapter 7 filing. Although these men and women may feel vulnerable and ashamed, the ability to have debts discharged gets their life back under control. They may have spent years in significant stress, trying to catch up on back payments and dealing with angry calls from their creditors.
The Automatic Stay
In addition to the future discharge of debt, one of the biggest advantages of declaring bankruptcy is the automatic stay. Notification is sent to all creditors informing them of the court filing, after which they are required by law to stop all collections activity. The emotional relief this can provide for consumers is remarkable. Even if the company was getting ready to file a lawsuit, they must halt the process. They also are not allowed to make theoretically friendly calls to the person who owes them money.
Debts Not Allowed in Discharge
A Bankruptcy Lawyer In Tacoma Wa needs to gather all the client’s financial documents necessary to begin the process of having discharged. Most qualify, but student loans and back child and spousal support payments do not. If the individual owes money to an ex-spouse because of a property settlement, he or she is still responsible for that as well.
The client can keep the primary home he or she owns outright. If there is still a mortgage, the home can be kept if payments are up to date. Unfortunately, many men and women fall behind on house payments while struggling with other bills. If they are behind on state and federal taxes, usually those obligations are not canceled. The agencies may be willing to work with the persons on payment arrangements, however.
Usually the need to file bankruptcy with an attorney such as Rafal Gorski is caused by a stressful and serious life event. A severe illness or a vehicle accident can lead to enormously high medical bills. Loss of a job also may cause significant financial trouble, and so can divorce. These times in life are difficult enough without the added stress of creditors calling every day demanding money. Bankruptcy protection may be the solution.
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