Richard J. Shurtz, Attorney at Law
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December 2017 Archives

Credit card debt after the holidays may prove to be overwhelming

The holiday season in Washington state and everywhere else is a joy for most people due to their relaxing encounters with family and friends and the joyful reigniting of the values of love, charity and gift-giving. The time is short, however, and within a few days a flood of credit card debt will appear in some people's mailboxes, knocking them out of their reverie. It is that post-holiday rush of financial obligations that may make the season slightly depressing overall for some people.

Chapter 7 Bankruptcy wipes out unsecured debt for a fresh start

Residents of Washington state who are pressured by burdensome debt must often make decisions on how to get debt relief and resolve the problem. When making that decision, some people also become concerned with the impact of the decision on their credit score. Sometimes overwhelming debt tends to rule out worrying about credit ratings, especially because credit scores and ratings are something that can be improved later. This is true even with respect to the bankruptcy remedy.

Bankruptcy may erase high medical bills and credit card debt

In Washington state, is there relief for a senior couple who are near 80 years old, the wife suffers from a heart condition requiring recent surgery, and they have amassed a credit-card tab of $70,000? The medical bills for the surgery and hospitalization will surpass the available coverage under Medicare, so that the couple's debt load will undoubtedly be overwhelming and unmanageable. Barring a lottery windfall or some other unexpected resource, the circumstances reasonably and realistically call for a Chapter 7 bankruptcy.

Chapter 13 bankruptcy is a payment plan for secured debt

The best way to keep one's home in Washington state when the mortgage payments have fallen behind is to file a Chapter 13 bankruptcy. No other program compels the mortgage holder to accept monthly payments to get the back amounts paid and the loan up-to-date and current. This can sometimes work even where the borrower has received a foreclosure action against the residential property. In such situations, there is an emergency need to consult with an experienced consumer bankruptcy attorney who is familiar with handling Chapter 13 cases.