Discover the Details of Chapter 13 Bankruptcy in Edmonds, WA

Chapter 13 Bankruptcy in Edmonds, WA, is a viable option that allows you to modify payments to lenders in a structured, court-supervised debt consolidation repayment plan. The total amount, length of time, and terms of the plan will be determined by considering the amount and types of debt you are responsible for. Other factors to consider will be determined by the types of property you own and your historical record of income and living expenses. All of these factors will be presented to the court by an appointed trustee who will, after court approval, disburse your payment to your creditors in compliance with your court-approved plan.

Restore Financial Health with Chapter 13 or 7 Bankruptcy in Edmonds, WA

Chapter 7 Bankruptcy is the most common type of debt relief procedure. It is designed to give people the opportunity to start with a clean slate by discharging the crushing debts they have accumulated. The types of debts that can be forgiven include medical bills, credit cards, and personal loans that the creditor may not have the means to repay. It does not, however, allow for the discharge of debt associated with child support, alimony, student loans, traffic or court fines, and past-due taxes. If you feel you need the relief in Edmonds, WA, that Chapter 13 or Chapter 7 Bankruptcy can provide, secure the services of a reliable attorney like Kimberly J. Mcleod, P.C., to explain both plans and get you back on the road to good financial health.