General

Protecting Your Home From Foreclosure

April 20, 2012

Chapter 13 can save your home from foreclosure. By giving you more time to make up for your missed payments, with no interest or penalties, you can make your mortgage more affordable and reduce your overall debt load. If the house is still too much to handle, Chapter 13 will help delay your move-out date [...]

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Being Sued by Creditors? File for Bankruptcy

March 28, 2012

In Washington, creditors can typically garnish a bank account to collect a debt after obtaining a judgment. Prior to filing, 25% of paychecks can be levied, but there is no limit to the amount that can be garnished from a bank account. They can take it all. Garnishing a bank account can be far worse than [...]

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New Credit Counseling Class Certificate Provider

February 21, 2012

Since the enactment of the Bankruptcy Abuse and Consumer Protection Act in 2005, bankruptcy filers have been forced to obtain a credit counseling certificate prior to filing their petitions with the U.S. Bankruptcy Court. It has been nearly seven years and a thousand clients later and I have yet to hear of anyone getting anything [...]

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Tax Refunds in Washington and Oregon

February 16, 2012

The applicable state bankruptcy exemptions will likely determine whether you will be able to file bankruptcy and keep a potential 2011 tax refund. If the Oregon exemptions apply, you may find yourself handing over everything but the Earned Income Credit and the Making Work Pay credit. If the Washington exemptions apply, you will likely be [...]

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Asset Acceptance Fined for Illegal Collections Activity

February 5, 2012

The FTC recently imposed the second-steepest penalty ever imposed on a debt collector. According to the New York Times, Asset Acceptance, one of the largest collection companies in the country, recently agreed to pay a 2.5 million penalty to settle charges that company deceived consumers in the process of trying to collect debts. I suppose [...]

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Washington Bankruptcy Court Weather Closures

January 21, 2012

Given the horrible weather confronting bankruptcy clients in the Seattle area, I thought it might be a good time to mention that if weather resuls in the closing of court facilities, a weather Notice will always be posted on the court’s website at http://www.wawb.uscourts.gov/. Bankruptcy hearings are held in several different locations and conditions may [...]

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What Interest Rates Will I Pay on Secured Loans in a Chapter 13 Bankruptcy?

November 19, 2011

For some time, it was unclear what should be the appropriate rate of interest on secured loans on personal property(cars, furniture, etc.) paid through a Chapter 13 Bankruptcy Plan. In 2004, however, the Supreme Court settled the issue and determined a formula to be used in Chapter 13 cases. (Till v. SCS Credit Corporation, 541 [...]

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What Name Should I Use on My Bankruptcy Petition?

November 10, 2011

You will want to make sure that your creditors will know who exactly who you are when they receive notice of your bankruptcy filing. To that end, If you have been known by any other name at all in the last eight years, you will want to make sure that your bankruptcy attorney lists that [...]

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Filing Chapter 13 Bankruptcy With or Without My Spouse in Washington?

November 8, 2011

Unfortunately, there is no simple equation that will reveal whether it’s better to file alone or jointly. The determination will largely hinge on which option allows you to get rid of more debt and keep more of your stuff. Here are some of the factors you should consider: Washington is a community property state and [...]

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Which Debts Must be Repaid in a Chapter 13 Bankruptcy?

November 5, 2011

A Chapter 13 Bankruptcy requires you to pay some of your debts in full and the remainder of your debts to the extent that you can afford to do so. At a minimum, at the start of your case, you will have to be able to show you are likely meet your obligations to fully [...]

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