When it comes time to meet with the Bankruptcy Attorney In Puyallup Wa, it is imperative individuals are properly prepared. Being prepared will mean fewer delays and will allow the attorney to better ascertain which bankruptcy option will be most beneficial for the debtor. With this information, debtors can know what pieces of information they will need to bring and what they can expect from their consultation meeting so they can be properly prepared.
These items should be brought to the consultation meeting:
- Financial documents, including wage statements, major purchase receipts, and tax returns
- A thorough list of creditors including the amount owed, account numbers, and contact information
- Loan documents for any loans that are still outstanding, including student, home, and car
- A list of major personal property that may be subject to repossession such as jewelry, cars, and boats
- A list of owned real property that is lived in or rented out
This is the bare information that should be provided to the Bankruptcy Attorney In Puyallup Wa. It is also wise for a debtor to write up a list of questions they have for the attorney so they will not forget them. One should be prepared to take extensive notes so they can refer back to them while they are in the process of making a decision on whether or not to file bankruptcy.
There are two types of bankruptcy that can be filed by individuals living in the state of Washington. Chapter 7 is a type that allows individuals to have their debt wiped out, though they may need to surrender their non-exempt property for liquidation so the debt can be paid off.
A debtor also has the option of filing for chapter 13. This bankruptcy allows the attorney to draw up a payment plan that helps to pay off the debts owed in three to five years. This type of bankruptcy can help to prevent foreclosure.
If you feel you are drowning in debt and are in need of legal help, it is crucial you meet with an attorney as soon as possible. Meeting with an attorney can allow individuals to make an important decision on which bankruptcy to pursue.
