Upload Data To Legal Washington Bankruptcy Forms For Free

How Does Bankruptcy Work in Washington? In most respects, filing for bankruptcy in Washington isn't different from filing in another state. The bankruptcy process falls under federal law, not Washington state law, and works by unwinding the contracts between you and your creditors. That's what gives you a fresh start.

You can only file for bankruptcy once every 8 years. Before filing for Chapter 7, at least one of these should be true: You have a lot of debt and income and/or assets a creditor could take. You lost your driver license after being in an accident while uninsured.

If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.

Are There Consequences To Filing Bankruptcy Multiple Times? While there may not be a limit to how many times you can file for bankruptcy, there are some consequences. In some cases, you may not get the protection of the automatic stay and/or you may damage your credit score.

Co-signors of a loan can be stuck with your debt unless they also file for bankruptcy protection. If you filed a prior case and received a discharge of your debts, you can only file a second Chapter 7 bankruptcy case eight years after you filed the first case.

If you have waited the appropriate amount of time since your last bankruptcy, then the worst effect of filing twice will be the hit to your credit score. Bankruptcy usually affects high scores more than already low scores, so you may need to investigate for yourself how your credit will be impacted.