Consumer Bankruptcy Lawyers in Kennewick, Washington

Find the right Consumer Bankruptcy attorney in Kennewick, WA

Bankruptcy allows an individual or business to get rid of some or all of its debt. Typically, bankruptcy should only be considered when the debt is completely unmanageable, impossible to pay off, and there are no other options. However, in some cases, the benefits of bankruptcy can substantially outweigh the costs. Bankruptcy is controlled by federal law and handled in federal courts, so the procedural and substantive rules involved in Washington are often the identical as everywhere else in the U.S. However, individual bankruptcy courts have slightly different rules for items such as exemptions, so it would be a good idea to consult with a local Kennewick, Washington bankruptcy attorney beforehand.

Chapter 7 Bankruptcy in Kennewick, Washington

In Kennewick, Washington, there are 2 common types of commonly-used consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 involves liquidation of part of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the qualifying property is sold, and the funds transferred to the creditors, the dischargeable debt is cleared. Some forms of debt, however, can't be absolved in Chapter 7 Bankruptcy in Kennewick, Washington. These include student loans, criminal fines, and taxes, among others. If most of your debt can't be absolved, Chapter 7 may not be the best choice for you.

Chapter 13 Bankruptcy in Kennewick, Washington

Chapter 13 Bankruptcy in Kennewick, Washington differs substantially from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your case. Chapter 13 does not excuse any debt, but it creates a new payment plan that should give the debtor some breathing room. Typically, all of the debts are consolidated into 1 periodic payment. While this may make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

Which Type of Consumer Bankruptcy Should I File in Kennewick, Washington

Chapter 13 is normally a good option for people who have a stable income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a stable income, Chapter 7 might be more beneficial.

Of course, you should always seek the counsel of an accomplished local Kennewick, Washington bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your individual situation.

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Life in Kennewick

Kennewick is located in Benton County, Washington. Neighboring waters include the Columbia River and Yakima Rivers. Kennewick is well-known because Forbes Magazine ranked it second in the U.S. for job growth.

Top employers include the Pacific Northwest National Laboratory, the Toyota Center, and the Columbia Center Mall.

A popular fact about Kennewick is that it aimed to become the Slurpee Capital of the World in 2008. Unfortunately, Winnipeg, Canada took that title. However, this attempt certainly helped Kennewick gain popularity.

Kennewick is also home to many attorneys who actively practice law and cater to the legal needs of residents. Alongside with attorneys, Kennewick has been the home to many famous celebrities. Such celebrities include Damon Lusk, Danica Stewart, Jeremy Bonderman, Kimo Von Oelhoffen, Olaf Kolzig, and Stu Barnes.

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