Debt can be a very difficult thing to handled even with a steady income. Unfortunately, not everyone has or can keep a steady income. Various events in life, such as an injury, illness, loss of work, or other financial difficulty can cause further difficulties dealing with debt. Fortunately, there are methods for getting out from under the burden of this debt. A Chapter 7 Bankruptcy Attorney in Tacoma WA can assist with this process and help a person begin again.
The Debt Snowball Effect
When a person is living paycheck to paycheck, it can be difficult to save money for an emergency. When an emergency strikes, it can be difficult to keep up with regular bills and debt. This can be especially difficult if the emergency or issue is loss of work for any reason. Before long, late fees and other interest can become overwhelming. This can cause creditors to begin harassing a person and making it difficult to get out from under this problem.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is a court filing that helps debtors get relief from their debt. For those with limited resources and income, a chapter 7 bankruptcy can provide a method for dismissing debt. Any non-exempt property will be liquidated and the proceeds will be used to pay the creditors. Any remaining debt will be dismissed after a court hearing. This allows a person to begin their life again without the harassment and stress caused by this debt.
How an Attorney Can Help
A Chapter 7 Bankruptcy Attorney in Tacoma WA understands the process needed to successfully complete a chapter 7 bankruptcy. They can assist clients in gathering all the information about their debt and filing all forms to begin the process. An attorney will also accompany the client to the court hearing to help them ensure their bankruptcy is successful.
A bankruptcy can seem like a frightful and difficult process. It also tends to hold a lot of stigma. However, this process can help eliminate many of the factors that can make it difficult to live a normal life. It can also allow a person to rebuild their credit and get their life under control. Many attorneys offer free consultations to help determine if bankruptcy is the right option.
