Although no one wants to talk about it in normal conversation, bankruptcy is something everyone will want to know about should they get into a financial tailspin. Bankruptcy does not have to be the embarrassing scenario it once was. People from all walks of life are affected by it. Corporations and other businesses also find themselves in bankruptcy court, too, if the profit margin begins to decline and the losses become greater and greater. There is an Attorney in Lakewood WA whose business is to help people who find themselves in need of debt relief. These are some things that people need to be aware of if filing bankruptcy in Washington.
In the State of Washington, the 2005 Bankruptcy Act required for all individuals filing bankruptcy beginning October 17, 2005, to take credit counseling sometimes in a six-month period before the filing. After the bankruptcy was filed, they had to complete a course on financial management. Under the umbrella of this same act, an individual’s income and expenses would be looked at to see whether he or she would file a Chapter 7 bankruptcy or a Chapter 13.
If the debtor’s income over the six-month period before filing for bankruptcy is less than the median income, the debtor can file for Chapter 7; otherwise, he or she will have to file Chapter 13. To file a Chapter 7 bankruptcy, the fee is $306. The fee to file a Chapter 13 bankruptcy is $281. In addition, a repayment plan must be submitted for the Chapter 13. Neither of these fees can be waived, although, in the Chapter 7 bankruptcy, the fee can be paid in installments.
Rafal Gorski is an attorney in Lakewood, Washington who has been providing various legal services to residents of Lakewood, Tacoma and other surrounding areas in Washington. The three major legal services the law firm provides are family law, personal injury law, and bankruptcy law. A person who needs legal help in any of these areas can call upon the firm for help.
