How to File Bankruptcy in Seattle

Filing for bankruptcy in Seattle can be a sobering experience.  Even though more than one million people file for bankruptcy each year, to some individuals the process still bears a stigma, not to mention the numerous financial implications of filing.  It may be a comfort to know that in these harsh economic times, bankruptcy filers come from all walks of life, and no one is immune to having monetary difficulties.

Personal bankruptcy filing

There is more than one way to file for bankruptcy.  Your options include the following:

• Chapter 7: Most commonly used by individuals and select businesses, this involves the elimination of all unsecured debt.
• Chapter 11: More of a re-organization plan, this type of filing involves working out a way to pay off your creditors.
• Chapter 13: Similar to Chapter 11, Chapter 13 can be used if your income is too high to qualify for Chapter 7.

Business bankruptcy filing

Just as in your personal life, you can file for business bankruptcy in any of three ways:

• Chapter 7: Your assets are usually liquidated, and your business dissolved.
• Chapter 11: These filers are typically protected from creditors, and repay their debts over a three to five year period.
• Chapter 13: Along with the benefits of Chapter 11, Chapter 13 allows certain debts to be discharged that you would normally have to keep under Chapter 7.

Benefits for bankruptcy filers

After you file for bankruptcy, you benefit from the following legal protections:

• The discharge of most, if not all, of your debts
• Prevention of your property being repossessed
• Prevention of utility cutoff
• Prevention or cessation of wage garnishment
• Prevention or cessation of home foreclosure
• Of course, these benefits vary with the type of debt you have and the way in which you filed bankruptcy.  They may, however, help to relieve some or all of the financial burden you carried for so long.

Find a Seattle bankruptcy law firm with experience

Our bankruptcy law firm in Seattle has honed its exceptional practice for over 40 years.  We are aware that when a person files for bankruptcy, it is a reflection of that person's circumstances and not character.  We work to provide caring and compassionate legal assistance to those in Seattle who are working to build a better life for themselves.  Whether you wish to file for business or personal bankruptcy, you can trust our Seattle lawyers to work patiently and carefully through your case.

Seek experienced legal representation

As one of the premier Seattle bankruptcy law firms, Carrington Law, P.C., wants you to know that filing does not have to be as difficult as it once was.  Let us guide you through any necessary procedures, and help develop a strategy to get you back on the path to solvency.  We are happy to provide you with a free consultation. To schedule a time to discuss your Seattle bankruptcy filing with an attorney at our firm, contact Carrington Law, P.C. today.