Quick Answer: How to file bankruptcy in washington state?

Can you file bankruptcy without going to court?

However, when you file for bankruptcy, you never really have to go to court. The only appearance you are required to make is attending the 341(a) Meeting of Creditors. The 341(a) Hearing is held around 30-35 days after your bankruptcy case is filed.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 bankruptcy, also known as a liquidation, is a legal option that can help you clear some or all of your debt. Chapter 13 bankruptcy is also a legal option that can help you get some debt discharged, but allows you to keep your property and repay your debt by completing a three- to five-year repayment plan.

How much debt do you need to have to file Chapter 7?

There is no threshold amount that you need to reach to file a bankruptcy. Some chapters of bankruptcy have debt limits, but there is no such thing as a debt minimum. That being said, you certainly can and should evaluate if filing a bankruptcy makes sense in your current situation.

Can I file bankruptcy with no money down?

Chapter 13 cases can be filed for no money down because the attorney fees and court costs can be rolled into a 3-5 year repayment plan. While you’re at it, you can also wipe away all of your other unsecured debt (credit cards, medical bills, payday loans, old collections, etc.).

Can I keep my car if I file bankruptcy?

If you file for Chapter 7 bankruptcy and local bankruptcy laws allow you to exempt all of the equity you have in your car, you can keep the vehicle—as long as you’re current on your loan payments. They may also give you the option to pay off the equity at a discount in order to keep the car.

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What is the income cut off for Chapter 7?

If your annual income, as calculated on line 12b, is less than $84,952, you may qualify to file Chapter 7 bankruptcy. If it’s greater than $84,952, you’ll have to continue to Form 122A-2, which we’ll review in the next section. It should be noted that every state has different median income calculations.

At what point should you file bankruptcy?

If you‘re overwhelmed by your debts, bankruptcy is just one option. If you have large debts that you can’t repay, are behind in your mortgage payments and in danger of foreclosure, are being harassed by bill collectors—or all of the above—declaring bankruptcy might be your answer.

Is it better to file Chapter 7 or 13?

In many cases, Chapter 7 bankruptcy is a better fit than Chapter 13 bankruptcy. For instance, Chapter 7 is quicker, many filers can keep all or most of their property, and filers don’t pay creditors through a three- to five-year Chapter 13 repayment plan.

What’s a possible downside of declaring bankruptcy?

The potential disadvantages of bankruptcy include: Loss of credit cards. Many credit card companies automatically cancel any cards you hold when you file. You will probably receive numerous offers to apply for “unsecured” credit cards after filing.

Can I keep my cell phone in Chapter 7?

As long as you are up to date with paying your bill or even if you can bring it current, you will be able to continue the cell phone contract without issue. Once you have decided whether you want to keep your cell phone contract or use bankruptcy in order to terminate it, your bankruptcy lawyer can help you do so.

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Who pays your debt when you file bankruptcy?

Your Debts in Chapter 7 Bankruptcy

When you file for Chapter 7 bankruptcy, you don’t have to directly repay any of your debt. Instead, the bankruptcy trustee may take any property you own that isn’t exempt, sell it, and distribute the assets to your creditors.

Do you need a lawyer to file bankruptcy?

Individuals can file bankruptcy without an attorney, which is called filing pro se. However, seeking the advice of a qualified attorney is strongly recommended because bankruptcy has long-term financial and legal outcomes. Court employees and bankruptcy judges are prohibited by law from offering legal advice.

What happens when a person filed for bankruptcy?

What happens when you file. When you file for bankruptcy, you get an automatic stay, which puts a block on your debt. Such stays prevent creditors and collections agencies from pursuing debtors for amounts owed. While the stay is in place, your wages can’t be garnished and creditors can’t go after any secured assets.