How Chapter 13 Bankruptcy in Washington Can Be More Beneficial Than Filing for A Chapter 7 Bankruptcy

While most consumers in Tacoma call our offices in the hopes of filing Chapter 7 bankruptcy, many of them are surprised to find out that under some circumstances Chapter 13 Bankruptcy in Washington will save them a whole lot more money. Why is that?   Chapter 7 is thought of as a quick opportunity for a fresh start. This is usually true, well, at least with respect to your unsecured creditors. Chapter 13 bankruptcy, on the other hand,  is thought of as a repayment plan where you pay everyone back. This is rarely true.   When it come to filing Chapter 13 bankruptcy in Tacoma, the thought is why in the world would I want a repayment plan if I can eliminate everything quickly and just get a fresh start? The answer in short is that you probably aren’t going to pay much, if anything, back to your unsecured creditors and you might do considerably better with your secured creditors, like car and home lenders, and your priority creditors, like the IRS, in…

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