Chapter 7 bankruptcy has many advantages, and this is why it is a very popular choice for those who are struggling with overwhelming debts. However, as in all bankruptcies, there are some sacrifices that need to be made.Chapter 7 bankruptcy is often known as...
Bankruptcy Exemptions
Will I lose everything if I file for Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | Jun 5, 2020 | Bankruptcy Exemptions
Filing for Chapter 7 bankruptcy is potentially a great option for those with little to no income and a high amount of debt. While you may not have any assets in your bank account, you may have a significant amount of assets in the property that you own, from your...
What property can I keep after Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | May 1, 2020 | Bankruptcy Exemptions
If you want to file for Chapter 7 bankruptcy, you probably already know that it's one of the quickest ways to clear debts. Chapter 7 bankruptcy has a lot of benefits: it's available to those who have a low income or have no income at all. In addition, it's the...
What items are exempt under the bankruptcy code in Washington?
On Behalf of Law Office of Ruth Nelson | Feb 14, 2020 | Bankruptcy Exemptions
If you're preparing to or have already filed for bankruptcy, then you may assume that all of your property is subject to being inventoried and liquidated to pay off your creditors. This isn't the case though. Certain items qualify for bankruptcy exemptions under...
Will I be left with nothing after a Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | Jan 10, 2020 | Bankruptcy Exemptions
Chapter 7 bankruptcy offers hope to people across the country who are experiencing financial difficulties. It is one of the most popular forms of bankruptcies because, in the majority of cases, it results in the clearing of all debt. In addition to this, it is...
Will I lose all my assets when filing for Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | Nov 13, 2019 | Bankruptcy Exemptions
Chapter 7 bankruptcy is a very popular choice for those dealing with financial issues for many reasons. First, it offers debtors the chance to be completely free from all their debts. Second, the entire process can be over within a few months.While Chapter 7...
Which bankruptcy filing is best if I don’t want to lose assets?
On Behalf of Law Office of Ruth Nelson | Sep 25, 2019 | Bankruptcy Exemptions
If you are considering filing for bankruptcy in Washington, you will probably already know that different bankruptcy filings result in different processes and consequences. If you are filing for bankruptcy as a private individual, you will likely be choosing between...
What can I keep when filing for Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | Aug 21, 2019 | Bankruptcy Exemptions
Filing for Chapter 7 bankruptcy means that you are willing to repay as much of your debts as possible through the process of liquidation. Chapter 7 bankruptcy has many advantages. For example, the process is extremely quick in comparison to other bankruptcy filings....
The choices you have in Washington bankruptcy exemption matters
On Behalf of Law Office of Ruth Nelson | Jul 19, 2019 | Bankruptcy Exemptions
One of the biggest fears that prospective bankruptcy filers have is the worry that they will lose all of their property. You have likely worked hard for many years to acquire the things you own, from the house you live in, to the car you drive each day. Therefore, it...
Can I keep my car in Chapter 7 bankruptcy?
On Behalf of Law Office of Ruth Nelson | Jun 12, 2019 | Bankruptcy Exemptions
Chapter 7 bankruptcy is one of the most popular choices for individuals and families who are facing overwhelming debts. However, not everyone can qualify for Chapter 7 bankruptcy. In order to be eligible, you must be able to show that your current income and assets,...
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