Richard J. Shurtz, Attorney at Law

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Posts tagged "Chapter 13 bankruptcy"

Is Chapter 13 the best option for bankruptcy?

There is no universal solution for debt relief for Washington residents, but, instead, there are a myriad of options from which consumers with enormous amounts of debt can choose. For many debtors who are struggling to make even the minimum payments and must choose between which bills to pay, bankruptcy is often an appropriate choice to make. However, there are two main types of consumer bankruptcies -- Chapter 7 and Chapter 13 -- and individuals generally only qualify for one of them.

Ready to stop the harassing calls? Consider Chapter 13 bankruptcy

For some, debt can creep up slowly, while for others, a single large emergency can plunge them into nearly unfathomable debt. We understand that most people want to pay back what they owe, but with creditors constantly harassing them for more and more payments, it can quickly become overwhelming. Unlike a Chapter 7 filing, Chapter 13 bankruptcy can help people resolve their debt by creating a manageable payment plan.

Research and compare if looking for debt consolidation solutions

The Federal Reserve reported that the debt load supported by United States consumers is more than $3.20 trillion. In light of these figures, it is no surprise that many consumers may seek a debt consolidation loan in an attempt to reduce their monthly obligations. Washington residents who are considering this option might also consider the advantages of a Chapter 13 filing.

A Chapter 13 bankruptcy may be just the answer you need

For many families in Washington, bills pile up and the paycheck goes just so far. Sometimes, life throws a curveball and the pay stops coming, but the bills only seem to increase. However, you don't want to lose all of your assets, or not all of your debt is eligible to be discharged. In this situation, a Chapter 13 bankruptcy may be a good resolution.

Sometimes buying a home may lead to need for bankruptcy

The American Dream was once said to be having the perfect home and the white picket fence. In today's world, however, the choice to purchase a home may lead to compounding future debt problems and may cause the consumer to research the options provided by a bankruptcy. Washington residents may choose to consider their own financial well-being before deciding to pursue a mortgage loan.

What if your bankruptcy isn??t working for you?

In many cases, Washington residents file for personal bankruptcy in the hopes that the process will lead to the elimination of debt or the ability to reorganize their existing obligations in a more manageable way. However, each type of bankruptcy offers different protections and tools, and it is important to select the right path when deciding how to file. In some cases, consumers find that the path they set out upon is not the best one to a debt-free future.

Secured creditors who do not participate in bankruptcy proceeding

Bankruptcy decisions are often complex and not always seemingly consistent.  For example, while many bankruptcy decisions in federal courts hold that creditors need to take an active role in protecting their claims and raise timely objections, one recent decision appears to go in the other direction.