Bankruptcy Law

If you are unable to pay your debts and you have lost control of your financial situation, you should contact a seasoned bankruptcy attorney to discuss a bankruptcy filing. The federal government established bankruptcy laws that allow debt relief but only by following complicated rules under certain circumstances.

Bankruptcy is a process that helps individuals and small businesses who can no longer pay their creditors start over by liquidating assets to pay their debts or by creating a repayment plan. Qualified debtors have two bankruptcy options:

Chapter 7

Chapter 7 basically erases the debtor’s obligations and gives the debtor a fresh start. To qualify for this form of bankruptcy, your income must fall below a certain threshold which can change yearly.

Chapter 13

Chapter 13 involves a reorganization plan that defines which debts will be repaid, at what rate of payment, and over how many months.

Bankruptcy is a complex and confusing process and not easily explained on a website. This process has long-term financial and legal consequences. A bankruptcy case must be properly prepared, filed, and finalized. We strongly recommend using an experienced bankruptcy lawyer to guide you through the process.

Attorney Gregory L. Davies is a highly rated bankruptcy attorney with decades of experience. He can help you successfully navigate the complicated federal laws and ensure you receive every possible benefit available. If you are overwhelmed by debt and need relief, contact us today at (425) 259-2775 or complete our Contact Form to schedule a bankruptcy consultation.

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