Salmon Creek Law Offices

Vancouver WA Bankruptcy Lawyer

Call us today for a free consultation to see how bankruptcy can relieve you from the constant harassment of creditors.   Bankruptcy laws were enacted to assist individuals and businesses who are unable to meet their financial obligations get a new start.

In a Chapter 7 bankruptcy, also known as a straight or liquidation bankruptcy, the debtor is required to relinquish any non-exempt asset to the Bankruptcy Trustee who, in turn, sells the asset for the benefit of creditors.  Often debtors will not own any non-exempt assets that must be sold.

In a Chapter 13 Bankruptcy, also known as a reorganization bankruptcy, individuals work out a plan so as to pay off their creditors in 3-5 years.  A Chapter 13 Bankruptcy is more attractive to debtors who have non-exempt assets they want to keep.