Bankruptcy
Bankruptcy Attorney in Mount Vernon
Considering Filing for Bankruptcy?
Kamb Law Office
provides the Mount Vernon, Washington
area with dedicated representation for Chapter 7 and Chapter 13 bankruptcy cases.
I will make sure that you remain fully informed, so that no details are missed. My goal is to help guide you through this process and gain the proper results. Call the office at (360) 336-6145
for a legal consultation.
Chapter 7 vs. Chapter 13 Bankruptcy
When you file for Chapter 7 bankruptcy you are asking the court to grant a discharge of your debts without paying the creditors. In Chapter 13 bankruptcy a plan is developed for the payment of your debts overtime. Filing a bankruptcy can stop garnishments and other debt collections.
Protecting Your Assets
When you file your petition, you must include a list of all of your assets, along with each asset’s fair market value. If any asset is not disclosed, then the court can refuse to give you the discharge. When you file the petition, an "automatic stay" goes into effect prohibiting creditors from taking any further action except through the bankruptcy court. A trustee is appointed to represent all creditors and administer your case. This administration could mean selling non exempt assets for the benefit of creditors. You are allowed to protect certain assets as exempt under Washington or Federal law. If all of your assets are exempt, your case is a "no asset" case. There are no assets to be distributed to creditors and your case would likely result in a discharge of all debts.
Are You Eligible to File for Bankruptcy
You can file for a Chapter 7 bankruptcy petition when you have either never filed a previous petition or if it has been more than eight years since you have attained a discharge. Another thing we will consider is the type of debt that you need discharged. For example, in most cases you cannot discharge child support, spousal maintenance or student loans.