The capital city has got a plethora of well-managed and professionally organized array of services whiling dealing with bankruptcy situations within the legal framework.
Bankruptcy law in Washington is quite unique in the form of exemptions, discharge mechanisms and debt resolution and reorganization systems.
The law in Washington requires the individual debtors to choose between exemptions under federal law and the state-specific exemptions (as provided under Washington bankruptcy mandate).
While the rest of the procedure for filing for bankruptcy in Washington is much similar to the other states, one can experience good “capital benefits” as provided under the law.
- Individual debtors filing for bankruptcy within prescribed time period of 6 months
- Bankruptcy act Means Test, analyzing expenses and incomes to qualify for Chapter 7 or Chapter 13
- Gathering paperwork for itemizing current income sources
- Filing for bankruptcy using Washington exemptions
- Chapter 13 requirements and submitting proposed repayment plan
- Meeting of creditors and plan confirmation