Filing For Bankruptcy In Spokane
When the Bankruptcy Code was changed in 2006 many people believed it became more difficult to file for bankruptcy or that they would have to pay all their debts in full. I still hear these reasons when people tell me how long they have suffered with crushing debt. The 2006 amendments did not make it more difficult to file for bankruptcy in Spokane or anywhere in Washington state for that matter.
Post 2006 Bankruptcy
After the changes in 2006, your income is compared to a state wide average, a process known as Means Testing. If your income is below the state wide average you are generally still eligible to file for Chapter 7 which cancels most unsecured debts.
State wide averaging includes the Seattle side of the state where incomes are higher. Most families in Spokane fall well below that state wide average. Today, the state wide average for a family of four in Washington is $84,786.00 per year. If you make less than that amount, and your legitimate expenses exceed your income every month, you can still file for Chapter 7 bankruptcy and have most of your debts canceled.
What To Do
Protect yourself, your property and your paycheck and have some peace of mind. If you are in Spokane or close to Spokane, contact our office at 509.838.4458 or fill out our bankruptcy intake form on our website for a quick evaluation of your situation and let’s see if filing for bankruptcy is right for you or if there are other alternatives.