For some, bankruptcy is a frightening option. However, for those looking to avoid foreclosure or get relief from their creditors, it may provide a fresh start. A Cheap Bankruptcy Lawyer In Olympia WA will protect the rights of those struggling with insurmountable debt. Before making any decisions, consult an experienced attorney who will provide honest answers.
Look Out for Scams
While a bankruptcy alternative may be tempting, it could damage a filer’s long- and short-term financial future. For instance:
• Debt consolidation programs are expensive, and in many cases, they simply help a debtor do what they could do on their own.
• Loan modification is an option, but many programs are scams. An attorney will review potential plans and determine their legitimacy.
It’s difficult to know who to count on, and it’s important to be skeptical of companies that claim to stop foreclosure with just one phone call. Bankruptcy is a complex process, but an attorney will guide a client through it and help them rebuild their credit for a fresh financial start.
Exempt and Non-Exempt Property
Many filers are misinformed on what they can keep and what they may lose during bankruptcy. Exemptions vary by jurisdiction, and everyone’s challenges are different. Washington uses both federal and state exemptions, including the “wild card” exemption. An attorney will help a client determine how to save their vehicles, home, retirement plan, household furnishings, and savings accounts.
Rebuilding Credit
Life goes on after bankruptcy, and if a filer plans carefully, they can get credit again. Many who try to resolve their own debt issues make their credit worse. The sooner action is taken, the sooner clients can rebuild their credit. Here are some helpful tips:
• Make payments on time.
• Don’t spend money that’s not available.
• Continue making mortgage payments during bankruptcy.
• Keep credit reports up to date.
Call Today
Contrary to popular belief, filing for bankruptcy doesn’t mean losing everything. Whatever debt concerns a client may have, bankruptcy may provide the answers they’re looking for. Call or contact the firm online to schedule an initial consultation with a Cheap Bankruptcy Lawyer In Olympia WA.
