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Warning Signs

Bankruptcy Attorney Serving Oregon

No one starts out in life wanting to declare bankruptcy. For most people, this is the result of an unforeseen event, a severe illness, injury or job loss. In some cases simple overspending and a lack of financial planning led to their difficulties. There are a number of bankruptcy myths which can keep a person who is overwhelmed by debt and struggling financially from considering bankruptcy as a legitimate solution. These false ideas may even prevent the person from even consulting an Oregon bankruptcy attorney until it is too late. If we are brought into the case early enough, there may be a number of alternative solutions to ease the situation and avoid the loss of a home or damage to credit. As the situation continues, it becomes more likely that Chapter 7 or Chapter 13 will be the most effective options.

Oregon Bankruptcy Lawyer

With some help from a competent bankruptcy lawyer, a loan modification may be arranged before the lender begins the foreclosure process. Where there is a large amount of consumer debt, debt negotiation or debt consolidation may be an answer. Credit counseling early on might save a lot of anxiety and expense later. Long before your financial situation becomes desperate, there will be warning signs that can tell you there will likely be serious problems in the future which you should not ignore. Some common warning signs include:

  • Paying for routine your weekly or monthly expenses using a credit card
  • Taking cash advances to pay your rent, mortgage, or other bills
  • If you can only afford the pay the minimum payments on credit card bills
  • If your weekly or monthly expenses are higher than your income
  • Credit card payments are more than 20% of your monthly net income
  • Unable to pay all your bills each month

While there are some very real benefits of bankruptcy, bankruptcy may not be the best solution for your circumstances. Our purpose at Oregon Fresh Start is to assist our clients to gain relief from credit and financial stresses and get a new start in life at a reasonable cost. We take the time to fully understand your goals and needs in order to determine how best to help you resolve your unique situation. Talk to a bankruptcy lawyer at our firm and find out how we can help.

To learn more about bankruptcy and if it is appropriate for your situation, contact an Oregon bankruptcy lawyer at our firm.

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