In Washington, bankruptcy cases help consumers manage their debts more proactively. The opportunity helps them pay off the debts over time through a structured plan or through liquidation. A Bankruptcy Lawyer In Puyallup Wa helps claimants with their cases and guides them through the proceedings.

Can Self-Employed Consumers File for Bankruptcy?

Yes, self-employed consumers can file for bankruptcy as long as they meet the eligibility requirements. For chapter 13, the claimant’s income must exceed the median income for their household size. A self-proprietor must provide their most recent income tax return as evidence of their current income. If they are filing for chapter 7, the court reviews their assets to determine eligibility.

Why Do Claimants Attend Credit Counseling Courses?

The requirement must be fulfilled before the claimant can continue their case. The program must be state approved and provide the claimant a certificate of completion. The courses are required to explain to the consumer how to manage their finances after the bankruptcy. It teaches the consumers how to budget and submit their payments on time. The purpose of the courses is to prevent the claimants from facing bankruptcy again.

Are There Limits on How Many Times a Consumer Files for Bankruptcy?

The claimant can file as many time as they want in their preferred chapter. As long as the claimant continues to pay their payments in chapter 13 and completes the terms of the bankruptcy, the court allows multiple claims.

Can the Court Modify the Repayment Plan?

Typically, modifications are not permitted, but extraordinary circumstances could lead to changes. For example, if the claimant is active duty military and is deployed, the court could modify their case if they don’t have a spouse. Job loss is another reason for changes. The court can also garnish the claimant’s wages to collect the monthly payments.

In Washington, bankruptcy cases stop creditors from filing a legal claim against the consumer. The cases also present an improved way to pay off debts without incurring more late fees or finance fees. Chapter 7 is a liquidation, and chapter 13 is a repayment plan. Consumers who want to learn more about the proceedings contact a Bankruptcy Lawyer In Puyallup Wa now.