It might have happened as the result of an investment suggestion or business opportunity that went horribly wrong. It might have happened as the result of one too many rough financial quarters in a row. It might have happened as the result of changes in the financial markets beyond your control. There are any number of reasons that it may have happened, but whatever that reason may be, the stark fact remains that you now find yourself in a position where you must declare bankruptcy.
However, with the help of the best bankruptcy lawyer in Bremerton, WA, bankruptcy doesn’t have to be the end.
Chapter 7 Bankruptcy
When you meet with the best bankruptcy lawyer operating in the greater Bremerton area, you’ll be able to take advantage of their financial and legal insight as they review your case and options. One of the most common courses of action taken by lawyers and clients is declaring Chapter 7. In this form of bankruptcy, assets are liquidated so as to pay creditors back as quickly as possible. There are many nuances to this process, and the best bankruptcy lawyer working in the Bremerton area can help you come up with the best possible solution for your particular case.
Chapter 11 Bankruptcy
On the other hand, maybe you don’t want or have to liquidate your assets so quickly and entirely. You want to fight to maintain your assets as much as possible. At the same time, however, you’re going to want to make sure that you pay back your creditors, as well. A great bankruptcy lawyer can help you thread that needle by working to balance these two needs. They will work with your creditors to make arrangements so you can pay them back without having to totally liquidate your estate.
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