Richard J. Shurtz, Attorney at Law
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March 2018 Archives

Chapter 13 can stop foreclosure and provide for monthly payments

The main legal vehicle used in the state of Washington and elsewhere to stop a foreclosure and attempt to save one's home is a Chapter 13 bankruptcy. This is a payment plan that allows the homeowner to make monthly payments on the past arrearages and to resume regular mortgage payments at the same time. Even for a property in foreclosure and scheduled for a sheriff's sale, the owners, if qualified, can file a Chapter 13 and stop the sale from taking place.

Here's how to manage credit card debt

Many Washington residents struggle with high levels of debt. For some, the total amount owed comes as something of a shock. Relying on credit cards to get through financial shortfalls, or simply paying the minimum amount owed for many years can result in a staggering volume of credit card debt. Here are some tips for effectively managing that debt load. 

Bankruptcy may allow for keeping home while erasing other debt

There are many reasons why people in Washington and other states file for personal bankruptcy relief. Their debt problem may be due to catastrophic medical debt, unemployment, disability or massive credit card debt caused by divorce and/or any of the foregoing problems. They may also be so overwhelmed with student loan debt that they seek bankruptcy relief to eliminate their unsecured debt and thus free up their budget to make student loan payments.

Bankruptcy effect on credit score can be repaired after discharge

Bankruptcy in the state of Washington is a remedy that helps individuals and married couples to obtain substantial debt relief from overwhelming unsecured debt. The action has other purposes, as when a Chapter 13 proceeding is used to try and save the filer's residence and/or other property. In order to determine qualifications for filing bankruptcy and the choice of remedies, it is best to obtain a consultation with an experienced consumer bankruptcy attorney. The initial consultation is usually free.