Olympia Bankruptcy Lawyers
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How does bankruptcy work in Washington State?Want to learn more about the Washington State and Olympia bankruptcy basics?
What is the process for filing bankruptcy in Olympia, WA?
Talk to an Olympia bankruptcy attorney.
All Washington State and Olympia bankruptcies start the same way. They begin with filing a “petition for relief” with the bankruptcy court. Included with the petition are documents showing all your property, your debts, your income and you budget, along with other financial details covering the last few years. We will walk you through the process and clearly explain what documentation and other proof we need.
Another important part of the bankruptcy documents is the form claiming “exemptions” of your property – this is how you protect most if not all your property in a bankruptcy. Our Olympia bankruptcy lawyers very experienced at maximizing the amount of property you can keep – in the vast majority of our cases, our clients do not have to give up anything.
After you file your Olympia, Washington bankruptcy, all debt collection is stayed (or stopped) by the bankruptcy court. You will then have a hearing about a month after you file. A trustee is appointed to administer your case. The trustee (usually just another bankruptcy attorney) works for the Department of Justice.
In a Chapter 7 bankruptcy, the trustee will investigate whether there is any property that can be taken to pay at least part of your debts. This not only includes the property you have, but could include property you’ve recently transferred out of your name – either to pay a debt or as a gift. It is important that you talk to an experienced attorney about all these issues.
In a Chapter 13, the trustee takes monthly payments from you and divides them up among your creditors according to a plan you file. We will attend your meeting of creditors with you and follow up with anything the trustee might need. The important decisions in your case are ultimately made by a bankruptcy judge. Our Olympia, WA bankruptcy attorneys are prepared to fight for your interests if the trustee or a creditor wants too much from you. It’s our job to try to persuade the judge that things should go your way.
Usually we put together a solid case and there is not much more to do after the meeting of creditors. Sometimes a trustee will want a few more documents to prove the things you claim in your bankruptcy forms. In a Chapter 13, we usually have to respond to creditors or the trustee. A great deal of care needs to be made with a Chapter 13 plan because you will have to live with it for three to five years.
The final order in your case is a discharge, which permanently prohibits most creditors from collecting a debt. In a Chapter 7, you get your discharge in about three months. In a Chapter 13, you have to complete your 3-5 year payment plan. In either case, we will be by your side doing most of the hard work – you just need to provide us with information. We have represented countless happy clients who were able to get a fresh financial start in bankruptcy with few worries.
The Washington State Bankruptcy Process is Complicated.
What is the process for filing bankruptcy in Olympia, Washington?
How does a Washington State bankruptcy work?