Take Control Of Your Debt With Vancouver Bankruptcy Lawyers

People living in Vancouver and throughout Clark County are now facing a future that involves rising costs. The new normal will have a huge impact on personal finances, and even now, 14% of Washingtonians are in delinquent debt. Unfortunately, there are no guarantees that this will stop quickly, as the entire country, and even neighboring nations, enter a period of extreme economic uncertainty. This can result in some Vancouver residents inadvertently entering a financial crisis through no fault of their own.

When this kind of crisis occurs, it’s to be expected that people won’t know exactly what to do and will need help with debt relief. Our financial attorneys in Vancouver are here for just this reason. We’ve helped people throughout Washington State for over 30 years, providing guidance on coming to terms with debt and managing it. Our bankruptcy lawyers in Vancouver can give both legal and financial advice to help people recover.

It’s a mistake to think that only the wealthy can get help from bankruptcy or debt relief lawyers in Vancouver. Our team offers free consultations to everyone, assessing the situation and determining the best course of action to help. We care, but we also have the know-how and experience, and we want to set things right again.

All people are unique, and it’s no surprise that the same thing applies to the financial problems they struggle with. Regardless of economic class, anyone can be caught in a crisis of unmanageable debt. Our Clark County debt lawyers can talk you through your debt issue, evaluate it, and explore the solutions that may work, 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 lawyers has both the knowledge and experience to identify your issues, confront them, and resolve them.

Many people have heard the word “bankruptcy” used, but not everyone knows exactly what it involves. To file for bankruptcy, financial and legal requirements at both the state and federal levels must be met. Here’s what the two most common types for individuals require.

• Your income falls below the state median for a household of your size. However, even those slightly above may still qualify if certain expenses can be deducted.
• You have not already filed for Chapter 7 bankruptcy within the last eight years.
• You take and pass an approved credit counseling course within 180 days of filing
• Vancouver Chapter 13 Bankruptcy Requirements
• You can contribute to a payment plan by presenting a verified source of income.
• Your secured debt is below the described debt limits for the type of bankruptcy filing you seek. Unsecured debts don’t have this limitation.
• You are able to provide the previous four years of correctly filed and paid taxes.
• Similar to the Chapter 7 filing, you agree to take and complete an approved credit counseling course within 180 days of filing.

Bankruptcy is a type of financial protection that pays or discharges some or all of the debt a person faces. If paying back debt is no longer possible, sometimes the only option is to reset everything and start fresh. Filing for a Chapter 7 Bankruptcy is one way to do this.

Chapter 7 Bankruptcy is sometimes called “liquidation bankruptcy” because it can take a “scorched earth” approach to eliminating unsecured debt, meaning loans without collateral.

This liquidation process can be aggressive, but Washington State law does have legal protections to mitigate this. Some exemptions, for example, are available for belongings like a home, car, or other important assets. Our Clark County bankruptcy lawyers can review eligibility requirements with you and conduct a means test to see whether you qualify for filing this Chapter.

You Might Be A Fit For Chapter 7 Bankruptcy If

• Your income has dramatically reduced, and you can’t meet your debt payments
• Creditors want to repossess assets or garnish your wages
• Much of your debt is unsecured, such as credit card debt or medical bills
• You don’t have any significant assets that could be sold to pay off debts

Some people stumble into a debt crisis but are lucky enough to keep a salaried job or access to some other recurring form of revenue. In such circumstances, Chapter 13 Bankruptcy might be a better but slower solution. This is nicknamed the “wager earner’s plan” because it requires a monthly income, but as a result, it offers more flexibility and control than a Chapter 7 filing.

Chapter 13 bankruptcy is different from Chapter 7 because it’s not a liquidation process. This method is about creating a payment plan, usually lasting somewhere between 3-5 years. While this doesn’t eliminate debt the way a Chapter 7 filing does, it gives people the time to get the debt back under control. As with a Chapter 7 filing, it can halt other financial actions taken against you, like foreclosure or repossession. Our Clark County bankruptcy lawyers consult with you to determine if you meet Chapter 13 bankruptcy requirements under Washington State law.

Chapter 13 Bankruptcy Could Be Your Solution If:

• You can have a verifiable salary or other income to make monthly payments.
• You missed mortgage payments and need more time.
• Your income exceeds the Chapter 7 bankruptcy means test limits.
• You have debts that fall outside Chapter 7, such as child support or tax debt.

Washington State and the rest of the United States are entering a period of great disruption. Whether you’re just a single person looking for good old-fashioned food and fun at Billy Blues Bar & Grill or a family seeking a great workout together at Kid’s Club Fun & Fitness, no one is immune to a possible financial crisis due to the unpredictability that the current economy is facing.

That doesn’t mean you have to panic. Clark County still has ample opportunities for residents, whether you live in Vancouver itself or Yacolt. People have options to learn new skills by attending classes at Clark College or learning financial management skills with coaching from Money Fit.

The important thing is to stay cool even when facing a challenge and use your time wisely to review options and create a plan. Consider your options here in Washington State offers. Reevaluate your priorities for what you’d like to do in the Pacific Northwest and where this falls with the current circumstances you face. And remember that even if you are struggling to manage serious debt, this isn’t a challenge you have to take on alone. Our Vancouver financial lawyers are here to help, and they have the answers you might be looking for.

Our bankruptcy lawyers have been assisting people all over Washington State for over 30 years. During that time, they’ve fielded many questions, some of the most common being:

Vancouver residents who struggle to keep up with credit card payments aren’t the only ones. Many Americans are experiencing increasing debt, including credit cards. Unfortunately, the turbulent financial period means things won’t get easier. Financial variables like inflation, rising interest rates, and fee hikes can rapidly escalate credit card debts to a level where people can’t manage them. However, legal measures are out there to help people regain control. When you consult with our Vancouver bankruptcy lawyers, they can help guide you out of this trouble.

They can also help when it comes to the distressing experience of having outsiders interfere with you. Sometimes, third parties, like debt collection agencies, are hired by creditors to recover outstanding debts. Collection agents, as unethical as it is, may use aggressive or even threatening tactics, but that doesn’t mean they are legally allowed to do so. The Fair Debt Collection Practices Act (FDCPA) protects your rights even when you are in debt. Some Washington State statutes of limitations may also categorize your debt as unenforceable. Vancouver bankruptcy attorneys can help you find the best ways to protect you as you manage your debt.

It’s no surprise that most Vancouver residents regard their homes as an important investment in their lives. This is why any threat to take it away is one of the greatest nightmares. Unfortunately, foreclosures can do this, and they are 100% legal. However, Clark County foreclosure attorneys can fight this.

Countermeasures like filing for bankruptcy, loan modifications, and other methods can delay foreclosures and save your home. Washington State also put laws in place outlining the specific procedures lenders must adhere to when foreclosing. Our team of Vancouver financial lawyers can protect your rights and your home from foreclosure.

The United States is home to the most advanced medical treatments in the world. However, the cost of such treatments can be extreme for those without comprehensive health insurance, and this can quickly spike into medical debt. It just takes one serious accident, surgery, or a diagnosis of a chronic condition that needs lifelong treatment to destroy personal finances. Sometimes, facilities like Peace Health Medical Center or Legacy Salmon Creek may use collection agencies to collect payment. This type of action can have a huge negative impact on someone’s credit rating. If medical debt is a big problem for you, our Vancouver financial attorneys can intervene with the following:

• Negotiating payment plans; some medical facilities even offer financial assistance programs or are receptive to settlements.
• File for bankruptcy. Filing for Chapter 13 or Chapter 7 bankruptcy can discharge some or all medical debt, depending on circumstances.
• Fight mistakes; billing errors and other mistakes may be contested or even refuted through debt validation.
• Surprise bills: Residents can be unexpectedly hit with surprise billing, but there are both State and Federal laws to protect against this.

It’s not just banks that lend money. Businesses like MoneyTree offer “Payday Loans” promoted as “advances” on your paycheck. These appear convenient, with no credit checks and faster approvals, but they come with much higher interest rates and a multitude of fees that easily spiral into a debt cycle. If the cycle continues, increasing expenses may rapidly exceed the original loan amount, resulting in severe debt. Some debt cycles go on for years as paychecks vanish into additional loans, more fees, and overdraft fees that devastate personal finances. Clark County bankruptcy attorneys can end the cycle and give people a chance to regain control.

A car loan with missed payments can put your vehicle at risk of being taken back. Even after this process begins, it’s possible to slow down or delay its progress. Vancouver bankruptcy lawyers have legal responses to retain a car, even after a repossession. If you’ve been warned of a repossession, or it's already happening, our team of Vancouver financial attorneys can challenge this.

It’s completely legal for creditors who are owed money to try to collect what they’re owed, but sometimes, the methods used on debtors are illegal. Some collection agencies or individual staff exploit the ignorance of debtors, who mistakenly assume that if an agent or agency is treating them in a particular way, they must have the legal right to do so. The truth, however, is that even in a debt situation, you have rights that must be respected. Talk to a Vancouver debt attorney immediately if you’ve been treated in any of these ways:

• Repeated, aggressive calls day or night
• Threats of dramatic legal action, like police arrest
• Harassment of family members or employers over the debt
• Abusive language or threats of violence

Vancouver bankruptcy lawyers can issue cease-and-desist letters, pursue lawsuits for damages, and take other legal actions to prevent illegal harassment.

Sometimes, creditors use other means to collect outstanding debt, such as filing a lawsuit to recover the money owed. This is a rare situation in which it’s not recommended that you seek the services of a litigation attorney. The better choice is to work with an experienced financial law or bankruptcy lawyer. Our teams in Clark County can help people with:

• Legal representation in Clark County Court
• Protect the rights granted to you under the FDCPA
• Mediate settlements
• File for bankruptcy
• Fight breach of contract lawsuits to collect debt

If a financial crisis has resulted in debt problems, we can help. Vancouver bankruptcy lawyers in Clark County have the experience, expertise, and empathy to help you regain control of your debt. Contact us today.