Cancer Patients and Bankruptcy in Washington

In the United States, medical bills remain the biggest reason for people filing Chapter 7 bankruptcy. But did you know that cancer patients are more likely to file for bankruptcy than people without cancer? A recent study showed that cancer patients and bankruptcy in Washington are closely linked, with patients diagnosed with cancer in the state being 2.65 times more likely to need a bankruptcy. Interestingly, younger cancer patients are at a higher risk of becoming bankrupt than elderly patients, whose expenses may be significantly reduced by Medicare and Social Security.

Receiving prompt medical treatment for any medical condition is vital. But it can drain your financial resources, causing you to incur medical debt and more personal debt through the use of credit cards. The additional stress coming from unpaid medical and credit card debt can worsen your medical condition, aggravating the pain and suffering that ordinarily accompany a cancer battle.

If you or a loved one is overwhelmed by debt arising from medical expenses, you can obtain relief through a legal remedy known as Chapter 7 bankruptcy.

How Chapter 7 Bankruptcy Can Help

Chapter 7 bankruptcy is a legal remedy that allows you to have a fresh start, generally wiping out most debt except for certain items such as:

• Student loans
• Court fines
• Specified taxes

If filed correctly, following prescribed legal forms, rules and procedures, you will likely receive a discharge from your debt –  usually 90 days after submitting your petition.

Legal Requirements for Chapter 7 Filing

A debtor must comply with certain requirements for filing, such as passing the means test. This entails a mathematical comparison of the petitioner’s annual income to the annual median income for a similar-sized household in the state of Washington.  That information is entered into a form and submitted to the bankruptcy court along with the petition.

The petitioner’s income must fall below the threshold amount in order to qualify for a Chapter 7 filing. 

Why Cancer Patients Need an Attorney for Chapter 7 Bankruptcy in Washington

Getting a Chapter 7 petition approved in court can be a challenge and additional source of stress for patients and their weary families. It requires knowledge of bankruptcy laws and rules of procedure, attention to numerous details and legal forms, and experience in calculating the means test. Our experienced attorneys can help prepare and file all necessary forms in support of your Chapter 7 bankruptcy petition.

Representing Residents of Southwest Washington

In Southwest, Washington, the Law Office of Erin Bradley McAleer has over 25 years of combined experience in consumer bankruptcy; helping individuals and their families obtain much-needed relief from overwhelming debt that is often the result of unfortunate circumstances.

We welcome your call today at (360) 334-6277 to speak to an attorney about your situation.  Our consultations are free.

Although the prospect of filing for Chapter 7 bankruptcy in Washington is daunting and scary, the process is straightforward and clear-cut. This means that you, with our help, can easily file a Chapter 7 bankruptcy petition. Once granted, the process will help you get back on track and on your way to rebuilding your credit and your financial health.

What is Chapter 7 Bankruptcy?

 Because there are several kinds of bankruptcy, it is worth quickly defining the term. Chapter 7 bankruptcy is a process by which your debts are cancelled. This usually includes most of, if not all, the debts you have before filing. A trustee is put in charge of the assets you have, and the trustee has the power to liquidate some of those assets in order to repay creditors owed money after you have filed.  Most Chapter 7 clients keep all their property and simply are relieved of their debts.  Every case is different, however.

How Long Does the Process Take?

Once you file your petition, the process normally takes 90 days until you receive your discharge.  You will be required to appear once in bankruptcy court for a quick hearing.  The filing fee to the court for a Chapter 7 is currently $335.  You can pay that all at once or by an installment plan with $100 down.

Finally, you will be required to complete credit counseling with an agency that has already been approved by the United States Trustee. We can assist you with finding and enrolling in credit counseling so that you can satisfy this requirement.  There are two online sessions required.  The first is done before you file your case and the second can be done any time after your case is filed. 

What Is Needed to File Chapter 7 Bankruptcy in Washington?

To file for Chapter 7 bankruptcy, you must submit a petition. There are also other forms that will be required.  The process can be challenging, but to sum up, the forms address:

• Your real and personal property
• Your debts
• Your income
• Your living expenses
• Any exempt property, or property you claim the law allows you to keep
• Any property you owned or money spent during the previous two years
• Property that was sold or given away in the previous two years

Once you file your petition, creditors must stop trying to collect any money from you for the debts you are going to discharge.

If you, or a loved one, are in financial trouble and need legal advice, The Law Office of Erin Bradley McAleer can help. We have been handling bankruptcy cases for many years. Every client is treated with compassion and care, and we strive to help our clients understand that there is life after bankruptcy.

For a free initial consultation, we welcome your call to our office at (360) 334-6277.

If you have found yourself in financial trouble and believe you may need to file for bankruptcy, there are options for you. In such cases, it is best to consult with an experienced bankruptcy attorney who can help you explore those options, so you are making the most informed choice possible for your future and that of your loved ones. Chapter 13 bankruptcy is one form of bankruptcy that may be very useful to you, depending on your situation and Eligibility for Chapter 13 bankruptcy in Washington. This type of bankruptcy allows you to keep your property in return for paying back a portion – or all – of your debts over a certain time period (usually three to five years). Understanding whether you meet the eligibility criteria for Chapter 13 bankruptcy in Washington is crucial in determining if it’s the right path for your financial recovery.

A Chapter 13 provides a bit more flexibility than a Chapter 7 as it allows you to propose your own payment plan based on your monthly income.

When you visit a bankruptcy attorney at the Law Office of Erin Bradley McAleer, we will review your financial situation to determine whether you are eligible for a Chapter 13 bankruptcy.

Eligibility for Chapter 13 bankruptcy in Washington

A Chapter 13 bankruptcy requires you to utilize your income to repay some or all of the debt you owe to creditors.  You must be able to prove that you can make the Chapter 13 payment obligations, in order to be approved.

Proving you can repay your debts is a matter of showing that court your monthly income – it should be steady and not too low.  Generally, a minimum of $125/month in disposable income is required.

Additionally, if your debt is very high, you will be ineligible for this type of bankruptcy. There are two specific numbers identified in the bankruptcy code that determine how high your secured and unsecured debt can be.  Your secured debt – or debt that gives a creditor the right to take a specific item of property if you don’t pay the debt – cannot be higher than $1,149,525.  Your unsecured debt – or debt that does not have the creditor the right to take a specific item of property if you don’t pay it – cannot be higher than $383,175.

If you meet the eligibility requirements for Chapter 13 bankruptcy, you and your bankruptcy attorney can then work on filing for bankruptcy and proposing a repayment plan to the bankruptcy court.

Get an Initial Consultation

If you are experiencing financial stress and don’t know where to turn or what to do, The Law Office of Erin Bradley McAleer can help. We have been handling bankruptcy cases for many years, and we understand how hard this time can be on you and your loved ones.

Filing bankruptcy does not mean the end of living a free and prosperous life. It can help you, or a loved one, obtain a fresh start, repair your credit, and get you back on track to living a life without debt.

Our friendly and professional attorneys welcome your call today (360) 334-6277 to discuss your particular circumstances.

Filing for bankruptcy is not only stressful, but may also be confusing and emotionally taxing. You might be worried about your future credit, your reputation, and your ability to recover from the bankruptcy filing. The good news is that even though you have filed for bankruptcy, you can recover fairly quickly – in fact, filing for bankruptcy can be seen as a step in the right direction if you are suffering financially. If you’re considering bankruptcy, such as Chapter 7 bankruptcy in Washington, it’s important to weigh the pros and cons of this decision. While most people believe that bankruptcy is a negative thing, it has its positives as well, and understanding the Positives of Filing for Chapter 7 Bankruptcy in Washington can provide you with valuable insights.

What is Chapter 7 Bankruptcy?

Before delving into the Positives of Filing for Chapter 7 Bankruptcy in Washington, we will quickly explain what Chapter 7 bankruptcy is.

A Chapter 7 allows you to get many, or all, of your debts cancelled. To repay your creditors, some of your assets may have to be sold. However, most of the time, a debtor’s assets are exempt, meaning you will be able to keep them even after the filing.

Positives of Filing for Chapter 7 Bankruptcy in Washington

We know that filing for Chapter 7 bankruptcy is not something you necessarily want to do, and you may be worried about all of the negative things that come along with it. However, we want you to also consider the positives of filing for bankruptcy. In the long run, declaring bankruptcy will help you get back on the right track financially.

For example, even if some of your property and assets are subject to sale after filing for Chapter 7 bankruptcy, most of your property is likely to be exempt. Additionally, upon a bankruptcy filing, you will no longer be subject to wage garnishments or bank account levies – meaning you get to keep all of what you are making at your job without having it garnished to pay off debt.

Moreover, declaring bankruptcy will allow you to start rebuilding your credit. Having delinquencies and other negative history on your credit reports makes it difficult for you to move forward.  A bankruptcy will result in an initial hit to your credit score but it’s a reset button that allows you to rebuild pretty quickly.  Many people who file are offered credit cards within a couple of weeks of filing.  If they use one responsibly, that payment history is reported to the credit bureaus and a fresh start begins in a few months.  People who do that often see their scores move into the “good” range within 18-24 months after a Chapter 7.

A Chapter 7 bankruptcy may be scary and something you are unsure of, but the best thing to do if you are considering filing for bankruptcy is to consult a bankruptcy attorney.

The attorneys at the Law Office of Erin Bradley McAleer are experienced at handling Chapter 7 cases and understand that this is a tough time. We strive to help our clients understand the process of filing for bankruptcy, as well as helping you feel comfortable about the process.

For an initial consultation, we welcome your call to our office at (360) 334-6277.

There are different types of bankruptcy, and not all of them are for everyone. One type of bankruptcy is Chapter 13, where you keep your property but are required to pay back all or a portion of your debts over a certain time period, usually 3 to 5 years. If you’re considering Chapter 13 bankruptcy in Washington, it’s important to understand how this option could potentially help you manage your financial situation.

In a Chapter 7 bankruptcy filing, most of your debts are cancelled, but you might have to sell some property in order to pay your creditors. A Chapter 13 bankruptcy,however, is considered a “reorganization” bankruptcy as you will end up paying back a portion of the debt you have.

When a Chapter 13 Bankruptcy Is the Right Choice for You in Southwest Washington

A Chapter 13 bankruptcy is right for someone who can meet the payment obligations set up under the bankruptcy plan. This is generally the right thing to do for individuals who have a higher income. Additionally, this is also the right type of bankruptcy filing for individuals who do not have a high amount of debt to pay off, need to catch up on missed mortgage payments, or pay back taxes.

To file for a Chapter 13 bankruptcy, your secured debts – ones in which a creditor has the right to take a specific item – cannot exceed $1,149,525. Unsecured debts – or ones that don’t give a creditor the right to take property or assets – cannot be more than $383, 175.

If you would like flexibility in paying back your debt, a Chapter 13 bankruptcy would be the right filing for you. Flexibility means that you are able to propose a payment plan to the bankruptcy court depending on your income and how much you owe. For example, if your average monthly income is more than the median income for your state, you will be required to propose a 5-year repayment plan. If it is less than the median, you will be required to propose a 3-year repayment plan.

The plan allows you to choose how and when you will repay your debts. It essentially allows you to maintain some control over how you will use your income during this period, and give you some peace of mind, even through this financially stressful time.

Contact a Bankruptcy Attorney

The Law Office of Erin Bradley McAleer has years of experience handling bankruptcy filings. We also understand that filing for bankruptcy is a stressful time and, for many, brings with it embarrassment. We strive to reassure our clients and help them find the best solutions to get their finances back on the right track.

For an initial no-obligation consultation, we welcome your call to our office at (360) 334-6277.