Helping You On The Path To A Brighter Future

Depending on your financial situation, when things get tough, a legal representative may suggest that you declare bankruptcy. While it’s completely normal to feel overwhelmed by this option, bankruptcy may be the key to a brighter financial future.

If you feel like you’re drowning in debt and you’re not sure how to escape from it, Kimel Law Offices is here to provide help. Our attorney, Metiner Kimel, has over 30 years of experience in bankruptcy law, so you can turn to him for guidance and understanding. Count on him to help you make the right financial decisions for your future.

Let Our Lawyer Help You Navigate The Bankruptcy Process

At Kimel Law Offices, our Washington attorney can help you file for different types of bankruptcy depending on your circumstances and goals, including:

• Chapter 7: Also known as “straight bankruptcy” or “liquidation,” Chapter 7 is a fast way for individuals to eliminate mounting credit card, medical, loan or asset debt. Let our lawyer help you understand the benefits and drawbacks of this type of bankruptcy and determine if filing is right for you.
• Chapter 11: This type of bankruptcy is reserved for businesses looking for ways to alleviate debt. Our attorney and staff can help you develop a debt reorganization plan that will allow you to maintain your business while repaying creditors over time.
• Chapter 12: Businesses that are classified as “family farmers” or “family fishermen” will benefit from Chapter 12. It also helps the business remain operational while establishing a plan to repay debts over the course of a three- to five-year period.
• Chapter 13: Unlike Chapter 7, this type of bankruptcy doesn’t eliminate all of an individual’s debt. Instead, you will reorganize your debt and develop a plan to pay it back over the course of three to five years.

Our attorney will take the time to review your case before explaining your options to help you make the best decision possible for your future.

Frequently Asked Questions About Filing For Bankruptcy

After you’ve spent months under the heavy burden of debt, filing for bankruptcy can feel overwhelming. At Kimel Law Offices, our lawyer is here to answer your questions and explain your options. In the meantime, please see some answers to frequently asked questions about the bankruptcy process.

What is the downside of filing for bankruptcy?

While bankruptcy is a useful tool for many people, there are some downsides to be aware of. The first is the impact that bankruptcy has on your credit score. A bankruptcy filing can stay on your credit record for up to 10 years, impacting your ability to obtain loans in the future. Depending on whether you file for Chapter 7 or Chapter 13 bankruptcy, you may also have to give up some of your belongings as part of your repayment plan to your creditors.

What assets do you lose when filing for bankruptcy?

When you file for bankruptcy, you may lose nonexempt assets, such as vehicles, real estate, investments and savings accounts. However, the assets you may give up depend on the type of bankruptcy you file for. When you discuss your case and options with our attorney, he will provide a detailed analysis of your potential losses to help you make the best decision for your future.

I have a loan. Will I lose my car when I file for bankruptcy?

Filing for bankruptcy does not automatically mean that you will lose your car. If you have a car loan, your ability to keep your vehicle depends on the type of bankruptcy you file for, whether you can continue paying your loan and the amount of equity involved.

What are considered assets of value?

When you file for bankruptcy, you have to list everything of value that you own. This may include real estate, vehicles, investment and bank accounts, furniture and art, jewelry and anything else that you own that has monetary value.

Overcome Your Financial Situation Today

If you’re ready to turn the page on your financial situation, explore your options by contacting Kimel Law Offices. Our experienced and professional lawyer has the experience that you can depend on to overcome any financial hardship you may be dealing with. He will walk you through your bankruptcy options and help you make the right decision moving forward. Call 509-381-7321 to schedule an appointment at our Yakima location or fill out our online contact form to get in touch.

Kimel Law Offices is a debt relief agency. Our attorney helps people file for bankruptcy relief under the Bankruptcy Code.