The Law Offices of Jason S. Newcombe

Our Lacey bankruptcy lawyers are here to help.

Are you struggling each and every month just to cover the necessities of life?  Are your debts continuing to increase despite everything you try to do?  Are you being hit with outrageous interest rates, fines, and penalties on your debts?  If so, we want you to know that help is available.

We are Lacey bankruptcy attorneys and Washington State debt relief lawyers.  We focus on providing clients with sound financial advice and guidance regarding their debt relief options.  For certain situations, filing for bankruptcy many not be the best option.  If you and your family are able to qualify for bankruptcy protection and relief, however, we believe that this path warrants strong consideration.

Your creditors and those nasty bill collectors who are constantly harassing you around the clock would have you believe that even considering filing for bankruptcy in some way indicates that you are not a good person, or that you have completely failed in life.  Our Lacey bankruptcy lawyers are here to help you to understand that this is complete nonsense!

Let us explain the truth about bankruptcy, including the many benefits that it provides.  We offer affordable low flat fees and can set up on a payment plan that fits your budget.  Call now to learn more about your legal rights and how we can help.

Call now to speak with on of our Lacey bankruptcy attorneys about your debt relief options.

(360) 753-5553

The truth:  The federal and state bankruptcy laws are here to protect people who are no longer able to meet their monthly obligations.

If you can qualify, taking advantage of our state and federal bankruptcy laws is your legal right.  The simple truth is that our bankruptcy laws were enacted to help good people that for whatever reason have fallen up difficult financial times, often through no fault of their own. 

Whether through loss of employment, an expected illness, divorce, falling prey to unscrupulous lenders and credit card companies, or through numerous other factors out of your control, our Lacey bankruptcy attorneys understand that anyone can suddenly find themselves financially struggling.

Fortunately, you are not required to struggle indefinitely and forced to give up all of your worldly possession.  The bankruptcy laws were designed to give people a fresh financial start.  Many of our bankruptcy clients in Lacey, Washington are able to eliminate or "discharge" 100% of their debts while being allowed to keep 100% of their personal belongings and other assets through various exemptions.

Our Lacey bankruptcy attorneys are here to assist you and your family in every way legally possible.  We offer a free initial consultation because we are confidant that if you can qualify for bankruptcy and want to move forward, you will retain our services.  Call now learn more about how we can help.

Talk to one of our Lacey bankruptcy lawyers now!

(360) 753-5553

The image most people have of bankruptcy is one of total financial disaster where a person who cannot pay their debts is left with no property or dignity.  Our Lacey bankruptcy attorneys are here to help you understand the truth about bankruptcy.  Despite what your creditors want you to believe, filing for bankruptcy is NOT an indication of failure.

In fact, as our Lacey bankruptcy lawyers will explain, the exact opposite is true.  If you qualify, filing a Washington State bankruptcy petition is your absolute legal right.  More importantly, bankruptcy is a way for people who have a crushing amount of debt to get an orderly, meaningful fresh start.  That includes maintaining your dignity and enough property to build a new future for yourself and your family. 

Bankruptcy is also a way for creditors to share fairly in what money might be available in a bankruptcy case.  Our Lacey bankruptcy attorneys will help you to understand that there are two kinds of bankruptcy for most consumers.  In a Chapter 7 bankruptcy, creditors only receive payments if property can be taken and sold so they can share whatever is available.  For many of our Lacey bankruptcy clients, we are able to exempt all of their property so that nothing is ever actually seized and sold.

Experienced and aggressive Lacy, WA bankruptcy lawyers fighting to protect you and your family.

Our Lacey bankruptcy attorneys are experienced and aggressive.  We know the Federal and the Washington State bankruptcy laws, and will fight to maximize your protections under these laws.  In many cases, our Lacey bankruptcy clients are able to discharge 100% of their debts while keeping 100% of their property.

If you have questions about whether or not filing for bankruptcy is right for you and your family, we encourage you to call our offices for an initial consultation.  One of our Lacey bankruptcy lawyers will be happy to review your finances and then explain your legal rights and options. 

Once you understand whether or not you can qualify and how filing for bankruptcy can help, you can then make an informed decision about whether or not filing a Washington State bankruptcy is right for you and your family.  Our Lacey bankruptcy lawyers will be with you through every step of the process.  We make filing for bankruptcy as easy as possible.

Talk to one of our Lacey bankruptcy attorneys now!

Call today for a free initial consultation.

(360) 753-5553

Questions about what happens in a Washington State bankruptcy?

Talk to an experienced Lacey bankruptcy attorney today!

Most people who file a Chapter 7 do not lose any property because the law allows you to keep your necessities – otherwise you would not get much of a fresh start.  In a Chapter 13, creditors receive a payments through a Chapter 13 plan, which involves monthly payments for three to five years. 

During your initial consultation, one of our Lacey bankruptcy lawyers can help you to understand whether or not you can qualify for either a Chapter 7 or a Chapter 13 bankruptcy.  For most of our Lacey bankruptcy clients, if they can qualify for a Chapter 7 bankruptcy, this is their best option.

Bankruptcies are filed in special bankruptcy courts, which are part of the federal court system according to the US Constitution.  One of our Lacey bankruptcy lawyers will start your case by filing a petition and other documents detailing your income, your budget, your property and your debts, along with other financial details showing that you have the right to a financial fresh start. 

A bankruptcy can be filed by an individual or a married couple.  In Washington, it usually makes sense for married couples to file together because Washington is a “community property” state where both spouses are responsible for each others debts.  If you have been divorced, it's important to talk to one of our Lacey bankruptcy lawyers about your final orders and who was required to pay what obligations in your Final Decree.

What happens to my debt collectors when I file a Washington State bankruptcy?

The second a bankruptcy case is filed, all debt collection must stop, including garnishments, collection calls, repossessions, foreclosures, the filing of liens, garnishments and law suits – if it’s an attempt to collect a debt, it must stop while the bankruptcy case is active.  You can even get a drivers license reinstated, though you may have to file a Chapter 13 repayment plan if it was suspended for tickets.

The end result of a bankruptcy is called a “discharge”.  This is a federal injunction that prohibits creditors from trying to collect a debt.  If they try to collect the debt, they can be sanctioned by a bankruptcy judge.  Some debts cannot be discharged, such as student loans, some back taxes, fines and back child support and other domestic support obligations. 

Some of these issues, such as those related to student loans, back taxes, and various support obligations can be complicated, and there are some exceptions to the general rules prohibiting them from being wiped our or discharged in bankruptcy.  Our Lacey bankruptcy attorneys will review any of these types of debts and explain your options if they apply to your situation.

What kinds of debts can be discharged in my Washington State bankruptcy?

You should consult with one of our Lacey bankruptcy lawyers to determine whether a particular debt will be discharged, but most common kinds of debts are discharged, such as credit cards, medical bills, payday loans and car deficiencies, for example. 

It doesn’t matter if you are already being garnished or if there is a judgment against you for the debt to be discharged.  We can still step in and wipe them out in the overwhelming majority of situations.  If you are currently facing a garnishment or repossession, our Lacey bankruptcy lawyers can move quickly to get your petition filed.  This will prevent any further wage garnishment or potential repossession.

After your bankruptcy petition is filed, a trustee is appointed to administer the case.  In a Chapter 7, the trustee is mainly concerned with investigating whether there is any property that can be taken to pay creditors.  Most people who file Chapter 7 do not have any non-exempt property, though the trustee will also investigate recent debt payments or transfers of property. 

In some cases those transfers can be un-done, so it is important to talk to one of our Lacey bankruptcy attorneys BEFORE transferring property out of your name, such as paying a large loan back to a relative.

More about filing a Chapter 13 bankruptcy versus a Chapter 7 bankruptcy.

If you file a Chapter 13, you make a monthly payment to the trustee who divides it up among your creditors.  The trustee takes an active role making sure your creditors are treated fairly and that you are paying as much per month as the law says you can afford.  In both Chapter 7s and Chapter 13s, final decisions are made by a bankruptcy judge.

In both Chapter 7 and Chapter 13 cases, the only hearing you are likely to have to attend is called a “meeting of creditors”.  This meeting is fairly informal but it is an important federal proceeding.  Your testimony is under oath.  The trustee swears you in and asks you to confirm the accuracy of your petition and the related documents and asks some basic questions about your finances.  

But you will not have to face your meeting of creditors alone.  One of our Lacey bankruptcy attorneys will be with you every step of the way.  Many of our Lacey bankruptcy clients tell us that their meeting of creditors' hearing was a lot easier and less stressful than they had anticipated.

The trustee can go into more detail to complete a thorough investigation and may ask for some follow-up documentation.  A Chapter 7 trustee is mostly concerned with investigating assets whereas a Chapter 13 trustee is more concerned with making sure your plan complies with the law and that it will work. 

How long will my Lacey bankruptcy case take?

A Chapter 7 case is usually open only about four months.  In general, in it a much quicker and easier form of bankruptcy than a Chapter 13 plan.  In 2005, Congress passed a law making it more difficult to file a Chapter 7 bankruptcy.  It required debtors who make over the median income in their state to be subjected to a means test to show they can complete a Chapter 7 without abusing the bankruptcy system.  I

f you make below the median income for your household size, there is no presumption that you are abusing the bankruptcy system.  Even if you are above the median income, you may be able to file a Chapter 7 because your expenses are high.  Some expenses, such as food and clothes, are limited by IRS repayment standards but some are your actual expenses, such as health insurance or child care. 

The means test is fairly complicated and it is a good idea to consult with one of our experienced Lacy bankruptcy attorneys to help you with a Chapter 7 bankruptcy, especially if your household earns over the median income.

What about my car, my home, and my other property?

Most people who file Chapter 7 cases can keep their cars and homes if they can continue to make the payments.  You can wipe out mortgages and car loans entirely in a Chapter 7 if you cannot keep up the payments, but you must surrender the property.  You can protect up to $125,000 of a home’s equity in a Chapter 7 with the Washington homestead exemption.   

Auto lenders and mortgage companies will want you to sign a reaffirmation agreement.  This agreement takes the debt out of the bankruptcy.  It is something to carefully consider before signing.  For instance, if a car is repossessed after a Chapter 7 and a reaffirmation agreement, you could find yourself with no car and a huge debt. 

However, a car company can repossess a car if you don’t sign the agreement, even if you are current.  Most car companies do not repossess cars even if you don’t sign a reaffirmation agreement as long as you are current and the car is fully insured.

Additional benefits of a Chapter 13 bankruptcy.

A Chapter 13 plan can do some things a Chapter 7 cannot.  You can save your house from foreclosure and get caught up on a mortgage in a Chapter 13.  If you have property that you cannot cover with an exemption in a Chapter 7, you can keep it if you can afford to pay what creditors would receive if it was sold over five years.  If you were ordered to pay the debts of a spouse in a divorce, you can discharge any debt you owe to your spouse because you did not pay the debt, unlike in a Chapter 7.

The plan sets out the order in which creditors are paid.  The last in line to get paid are general unsecured creditors - debts such as credit cards, medical bills and payday loans.  These debts get paid a percentage according to what you can afford.  If you are over the median income, this amount is determined by the means test after deducting for expenses. 

Our Lacey bankruptcy lawyers are very experienced when it comes to the means test.  Even if your income appears to high, we will do everything legally possible to maximize your relief under the bankruptcy code.  And, there are many benefits to a Chapter 13 bankruptcy, even if your income is significant.

Even if you have to pay 100%, a Chapter 13 is often a good way of limiting late fees and interest and providing yourself a light at the end of the tunnel.  It is much better than having your wages garnished.  Any percentage of the general unsecured debt that is not paid get discharged – unless if falls into one of the exceptions.

You may also be able to remove a second mortgage in a Chapter 13 if your home’s value is less than the balance of the first mortgage.  This requires a separate lawsuit in bankruptcy court called an “adversarial proceeding”.  If the suit is successful (if you can prove the home’s value was less than the mortgage balance), the debt is paid as a general unsecured creditor.

Car loans can be “crammed down” in a Chapter 13 if the car was purchased over 910 days ago or the loan is a title loan or other “non-purchase money security”.  A cram down means the plan pays the value of the car, plus an adjusted interest rate, with any amount of the loan over the value being paid as unsecured.  So if you owe $20,000 on a car worth $10,000, you pay $10,000 plus interest with the other $10,000 being paid the same percentage as other general unsecured creditors.

There are many things to consider when deciding whether to file bankruptcy.  Many factors go into the choice of Chapter 7 or Chapter 13 and it is a good idea to explore your options with one of our Lacey bankruptcy attorneys. 

The experienced, friendly, and dedicated attorneys at the Law Offices of Jason Newcombe provide free consultations to help you with this difficult decision of whether a fresh start in bankruptcy is right for you.

Lacey, WA Bankruptcy Attorneys

Serving clients throughout Thurston County, WA

Lacey Bankruptcy Lawyers

(360) 753-5553

Flexible Payment Plans

Low Flat Fees

Speak to one of our Lacey bankruptcy lawyer now!

(360) 753-5553

Talk to one of our Lacey bankruptcy attorneys now!

(360) 753-5553

Talk to one of our Lacey bankruptcy lawyers today!

Call now for free initial case evaluation.

(360) 753-5553