A Bankruptcy Attorney In Tacoma Wa typically provides free consultations so men and women can get a better sense of whether this choice is best for their situation. The person having a complimentary consultation will want to write down some questions that the lawyer can answer. Attorneys that represent clients in bankruptcy proceedings have a broad range of knowledge about the subject.
Keeping a Car or Home
The person may have a goal of keeping a car that is in danger of repossession, or a house that is facing foreclosure. With Chapter 13, it may be possible to keep those belongings even if the person is currently behind on payments. With representation by an attorney such as Rafal Gorski, the person sets up payment arrangements to catch up with all outstanding delinquent obligations within three to five years. Ongoing payments to the car financing company or mortgage provider also must be made on time.
What About the Credit Score?
This individual may wonder how long it will take before the credit score gets back up to a good number or even a fair one. Although bankruptcy remains on the credit history for several years, the credit score actually can start moving up fairly quickly. By the time someone files for bankruptcy, the credit rating has usually already taken a very large hit.
Past-Due Income Tax
People often wonder if they can wipe out all their past-due income tax with Chapter 7. This is a complicated subject, but the basic answer is that certain income tax debt can be forgiven through bankruptcy. Not all of it is eliminated, however. In addition, if the person has not filed income tax forms for a year or more, those returns must be completed and the total amount due calculated.
Beginning to Recover
Filing for bankruptcy with the help of a Bankruptcy Attorney In Tacoma Wa can be very difficult on a psychological level. The person may feel like a failure and have a strong sense of embarrassment. It’s important to remember that the government has approved of this action to allow consumers to get a fresh start. Without the constant overwhelming stress of the debt mountain, this individual can begin to recover both financially and emotionally.
