Debt is something almost everyone deals with at some point in their lives. When debt becomes too difficult to handle, individuals have the right to seek help from an attorney. With Chapter 7 in Olympia WA, individuals can quickly overcome the debts they owe and start the process of repairing their credit and seeking a better financial future. Knowing what to expect from the process will help individuals to be prepared.
How to Get Started with the Attorney
To get started on the process, individuals first need to schedule a consultation for Chapter 7 in Olympia WA. The consultation appointment allows them to bring in their financial records and learn about their bankruptcy options.
Chapter 7 is a bankruptcy option that is fairly quick to settle. Many people are able to have their bankruptcy completed in less than six months. The attorney will first help their client through the means testing that is required before they are approved. To pass means testing, the individual must not have an income higher than the median in their state.
Rely on the Attorney for Help
Relying on the attorney throughout the process is crucial for peace of mind. Although a person has the right to file their bankruptcy without legal help, this is not advised. It would be wise for an individual to at least consult with an attorney before they start the process so they can be sure they are prepared.
When an attorney is hired, they take over every step involved in filing for bankruptcy. Once the bankruptcy has been approved, a third-party trustee is placed over the bankruptcy. They are required to account for all assets owned by the individual. Any non-essential assets are sold to pay off the debts owed. If there are not enough assets, the trustee has the power to absolve debts.
Those who are dealing with mostly secured debts would be wise to seek help from Chapter 7 bankruptcy so they can overcome the debts they owe. Scheduling a consultation appointment with the attorney is an important first step in getting started on the process. Call today to schedule your appointment.
