Consumer Bankruptcy Lawyers in Shoreline, Washington

Find the right Consumer Bankruptcy attorney in Shoreline, 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 Shoreline, Washington bankruptcy attorney beforehand.

Chapter 7 Bankruptcy in Shoreline, Washington

In Shoreline, Washington, there are 2 common types of commonly-used consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 liquidates part of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many forms of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and basic personal items, like clothing. These assets 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 Shoreline, 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 Shoreline, Washington

Chapter 13 bankruptcy in Shoreline, Washington is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your individual 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 Shoreline, Washington

This depends entirely on the facts of your individual case. If you have a decent amount of stable income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 may be the best option for you. If most of your property is exempt, and you don't have much stable income, Chapter 7 might be the best option.

Of course, you should always seek the counsel of an accomplished local Shoreline, 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 Shoreline

Shoreline is located in King County, Washington. Specifically it is north of Downtown Seattle. Per the 2010 census, Shoreline is home to 53,007 people.

Popular sites include Hamlin Park, Kruckeberg Botanic Garden, Shoreline Historical Museum, Shoreline Stadium, Shoreview Park, and Granite Curling Club. Other popular landmarks include the William E. Boeing House and the Ronald Grade School, which is now the Shoreline Historical Museum.

Top employers include the school district and health care system. Although the legal industry is not included in this list, many law offices employ excellent attorneys and legal support staff to help Shoreline's economy and tend to the legal needs of residents.

Overall, Shoreline is a wonderful place to visit. It is also a wonderful place to call home because it offers a community-like feel and small-town humbleness!

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