After a detailed review of your expenses, debts, and financial standing, you may have decided that bankruptcy is regarded as the most sensible option for you at this stage.
However, you’ll probably still need some assistance with bankruptcy in relation to deciding which chapter of bankruptcy to declare, and the way to figure out payment schedules with the assistance of your creditors.
Below are a few steps you can take to ultimately make the Oregon bankruptcy process as stress-free as you possibly can.
First, you may well be surprised to know that you can seek bankruptcy relief completely all on your own, without needing to hire bankruptcy lawyer. After all, you’ll have to pay the lawyer a fee for services, and if you’re declaring bankruptcy, you are most probably researching ways to save the bucks you’ve wherever possible.
Lawyer fees can be up to $1000 or even more if the attorney files in your case, so you may choose to request the legal forms required for the procedure, fill them out yourself, and send them to the appropriate government establishment in your area or state.
To be able to truly get help with bankruptcy, you should state what is causing you to be in debt. It might be one situation that has been very costly, say, for example a surgical procedure or unforeseen accident that required medical attention. Or, the decision for bankruptcy could result from time utilizing charge cards for their limit, and only paying the minimum payment.
Discovering the reason for your bankruptcy will assist you to take a genuine look at your spending habits, so you won’t need to file another time. Though filing over and over again is allowed generally (particularly when you file within different chapter), it’s going to reflect poorly on the credit report, and can stop you from qualifying for automobile or mortgages later on.
Organizing your financial situation, and exploring all possible ways to repay your financial troubles will also help with bankruptcy. For instance, in case you are filing Chapter 13, this means that you curently have full-time employment, which would enable you to send payments to your creditors with a monthly or bi-monthly basis. If you own your personal business, you might consider Chapter 11 bankruptcy, and when you use valuable property that one could sell to be able to have the funds to cover your debts, Chapter 7 bankruptcy could possibly be in your case.
If you opt to call legal counsel to obtain help with bankruptcy, ensure that you bring all your bills with you, and you are willing to adhere to a repayment plan that can improve your financial future.
The Oregon bankruptcy attorneys of Northwest Debt Relief Law Firm are committed to helping people throughout both Oregon and Washington get out of debt, including, where appropriate, filing petitions for relief in the United States Bankruptcy Courts. Whether personal bankruptcy or Chapter 13 is right for you, Northwest Debt Relief Law Firm can help you get a fresh start and get your personal finances back on track.