Overcome Your Debt Problems with Spokane Bankruptcy Lawyers

Spokane residents are now entering a period of great financial instability, complete with rising costs. The new normal will have a huge impact on personal finances, and even now 14% of Washingtonians are in delinquent debt. Unfortunately, this won’t change any time soon as the entire country, and even neighboring nations, are looking at a period of extreme uncertainty. This can put Spokane residents in a surprise financial crisis through no fault of their own.

It's completely normal if people who weren’t prepared for this find they need some help with debt relief. Our financial lawyers are the ones who can help. We’ve been helping people all over Washington State for over 30 years. We’re able to guide people on coming to terms with debt and learning to manage it. Our bankruptcy lawyers in Spokane are here to give both the legal and financial guidance to steer people out of jeopardy.

Don’t make the mistake of thinking only the wealthy can get help from bankruptcy or debt relief attorneys in Spokane. Our team is happy to provide free consultations to anyone in need, evaluating the problem and seeing how to help. We are knowledgeable and empathetic, and we are determined to help make things right.

Every person is unique, so it’s no surprise that the same is usually true for the financial problems they face. Anybody of any economic class can fall into a situation of unmanageable debt. Our Spokane County debt lawyers can discuss your debt issue, evaluate it, and look into the solutions that may be available to you, like:

• Chapter 7 Bankruptcy
• Chapter 13 Bankruptcy
• Debt Management Plans
• Mortgage Modification Programs
• Payment Plan Agreements
• Lump-Sum Settlements
• Debt Settlement Agreements

Our team of bankruptcy attorneys is knowledgeable and experienced enough to create a plan customized for your financial problems, address them, and bring things to a close.

While many people have heard the word bankruptcy, not everyone knows what it requires. There are financial and legal criteria at the state and federal levels that need to be met to file for bankruptcy. Here’s what’s needed for the two most common types.

• Your income is below the state median for your household size. Those slightly above may still qualify if certain expenses can be deducted.
• A Chapter 7 bankruptcy hasn’t been previously filed within the last eight years.
• You attend and pass an approved credit counseling course within 180 days of filing
• Spokane Chapter 13 Bankruptcy Requirements
• You must have a verifiable source of income capable of making payments for a payment plan.
• Any secured debt must be under the described debt limits for the type of bankruptcy you are filing for. Unsecured debts have no limitations.
• You must be able to present the previous four years of correctly filed taxes.
• Like the Chapter 7 filing, you’ll need to attend and complete an approved credit counseling course within 180 days of filing.

Bankruptcy isn’t a punishment; it’s actually just a type of financial status. It’s a form of financial protection for people who find themselves in a crisis of debt. If no clear path to paying it back remains, sometimes the only option is to wipe the board clean and start over. Filing for a Chapter 7 Bankruptcy is the first step in that journey.

Chapter 7 Bankruptcy is occasionally called “liquidation bankruptcy” because some people think it is a “scorched earth” approach to paying unsecured debt, which are loans with no collateral. The liquidation process can sometimes be very aggressive, but Washington State law can provide legal protections from some of it. Some exemptions, for example, can extend to important possessions like a home, car, or other crucial assets. Our Spokane County bankruptcy attorneys cover the eligibility requirements with you and run a means test to see whether you qualify for a Chapter 7 bankruptcy.

Chapter 7 Bankruptcy May Be Your Option If

Your income has substantially shrunk, and you can’t make debt payments

Creditors are moving to repossess assets or garnish your wages

The bulk of your debt is unsecured, like credit card debt or medical bills

You don’t have any major assets that could be sold toward debt repayment

Some people who come into a debt crisis are fortunate to retain a salaried job or other access to reliable incoming revenue. For these people, Chapter 13 Bankruptcy might be a better alternative to managing debt, although it is slower. This is sometimes called the “wager earner’s plan” because while it requires a monthly income, it also provides more flexibility and control than a Chapter 7 filing.

Chapter 13 bankruptcy differs from Chapter 7 in that it doesn’t liquidate what it can. The strategy here is to formulate a payment plan, one that typically lasts between 3-5 years. This won’t eliminate debt as quickly as a Chapter 7 filing, but it does give people time to regain control of debt. Like the Chapter 7 filing, it can also be used to put a stay on other financial actions that may be taken against you, such as foreclosure or repossession. Our Spokane County bankruptcy lawyers can work with you to determine if you qualify for Chapter 13 bankruptcy under Washington State law.

Chapter 13 Bankruptcy May Work For You If:

• You can provide proof of salary or other revenue capable of monthly payments.
• You need time to make up missed mortgage payments.
• Your income is over the limits of the Chapter 7 bankruptcy means test.
• You have debts a Chapter 7 filing can’t address, like child support or tax debt.

Washington State and the country, as a whole, are in a state of economic flux.

It doesn’t matter whether you’re LGBT and celebrating your pride or an animal-loving nuclear family that just enjoys trips to the Cat Tales Wildlife Center; these unpredictable times can hit you with debt when you least expect it and leave you in a crisis.

However, this is no reason to panic. Spokane County offers a lot of opportunities for residents, whether you’re living in Spokane itself or Liberty Lake. It’s always possible to forge a new path, like going back to school at Spokane Community College or learning how to handle finances better with SNAP Financial Coaching.

What matters is not giving in to panic and instead taking the time to review options and plan calmly. Look into what Washington State offers. Review your priorities to see what things you’d like to accomplish in the Pacific Northwest and see how this aligns with current circumstances. Never forget that if you find yourself struggling with debt, it doesn’t have to be experienced alone. Our Spokane financial lawyers are ready to help and give you the answers you seek.

For over 30 years, our bankruptcy attorneys have been helping people throughout Washington State. Naturally, they’ve had a lot of questions, and here are the more common ones we’ve been asked:

Spokane residents who may get into credit card debt are far from alone. Many Americans face rising debt, including credit cards. Unfortunately, the incoming period of financial uncertainty means there’s probably no break in sight. Economic factors such as inflation, interest fluctuations, and fee hikes can escalate credit card debt to a point where people can’t keep up. Fortunately, legal measures exist to help regain control of this debt. When you talk to our Spokane bankruptcy attorneys, they can help you resolve this problem.

One major point of concern is that sometimes, other people try to take control of your debt situation. Third parties, like debt collection agencies, may be hired by creditors to collect the debt. Collection agents, however unethically, may use questionable or even threatening tactics, but that doesn’t mean they are legally in the clear. The Fair Debt Collection Practices Act (FDCPA) is there to protect your rights even when you have debt. There are also Washington State statutes of limitations that might categorize your debt as unenforceable. Spokane bankruptcy lawyers have the legal experience and know-how to look into all avenues of protecting you as you manage your debt.

For many Spokane residents, a home is both the biggest and most important investment of a lifetime. So when there is a threat to take it away from you, that’s the ultimate nightmare. Unfortunately, foreclosures are just that, and they are legal. However, Spokane County foreclosure lawyers can challenge this. Legal responses like filing for bankruptcy, loan modifications, and other strategies can halt foreclosures and protect your home. Washington State also has laws in place defining specific procedures lenders must follow when foreclosing. Our team of Spokane financial attorneys can protect your rights and your home in a foreclosure situation.

The United States is fortunate enough to host some of the best medical treatments in the world. Unfortunately, the cost of those treatments can be staggering for those without good health insurance and can easily escalate into medical debt. All it takes is a single serious emergency, surgery, or a diagnosis of a chronic condition requiring treatment to devastate personal finances. In some instances, facilities like Sacred Heart Medical Center or Deaconess Hospital may send collection agencies to recover unpaid bills. This can have a significant negative impact on your credit rating. If you’re struggling with medical debt, our Spokane financial lawyers can assist you through:

• Negotiating a payment plan; some medical facilities have financial assistance programs or are open to discussing a settlement.
• Bankruptcy filing. Filing for Chapter 13 or Chapter 7 bankruptcy can mitigate or discharge medical debt in some situations.
• Challenge errors; billing mistakes and other errors can be contested or even refuted through debt validation.
• Surprise bills: State and Federal laws exist to protect residents from surprise billing that is sometimes sent to patients.

Banks aren’t the only organizations that give out loans. Businesses like MoneyTree offer “Payday Loans” that are marketed as an “advance” on your paycheck. These seem convenient, with no credit checks and quick approvals, but they are tethered to very high interest rates and an onslaught of fees that can rapidly spiral into a debt cycle. Should the cycle persist, growing expenses may greatly surpass the original loan amount, putting people in severe debt. Some get trapped in this for years, watching paychecks vanish into more loans, more fees, and overdraft fees that ruin personal finances. Spokane County bankruptcy attorneys can break the cycle and help people regain control.

If you have a car loan but then start missing payments, your vehicle is at risk of being taken back. Once this process has started, it’s possible to put a stop to it. Spokane bankruptcy attorneys still have legal countermeasures to hold onto a car, even after a repossession. If you’ve been notified of a repossession, or it's already in progress, our team of Spokane financial lawyers can help prevent this.

Creditors who are owed money are legally entitled to try to get what they’re owed, but some tactics employed to do this are illegal. Unfortunately, some collection agencies and their staff prey on the ignorance of debtors who assume whatever treatment they experience must be legal. In fact, even in a debt situation, you have rights that can’t be violated. Talk to a Spokane debt lawyer immediately if you’ve experienced any of the following:

• Aggressive calls at all hours of the day or night
• Threats of extreme legal action, such as arrest
• Harassment of family members or employers about the debt
• Threats of violence or abusive language

Spokane bankruptcy attorneys can file cease and desist letters, enact lawsuits for damages, and other legal responses to end illegal harassment.

Sometimes, if requests and repossessions don’t work, creditors use other legal means to collect outstanding debt, like suing you to get the money owed. This is one of the few instances when it’s not recommended you seek out the services of a litigation attorney. Instead, the better option is to consult with an experienced financial law or bankruptcy attorney. Our teams in Spokane County can assist with the following:

• Provide representation in Spokane County Court
• Protect your rights as described under the FDCPA
• Negotiate settlements
• File for bankruptcy
• Challenge breach of contract lawsuits to collect debt

If a financial crisis has resulted in you accruing unmanageable debt, we can help. Spokane bankruptcy attorneys in Spokane County have the experience, expertise, and empathy to help you get debt back under control. Contact us today.

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