Oregon Bankruptcy Lawyer

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Have you been receiving collection phone calls at your home? Have you begun to check the Caller ID so that you can avoid collection calls from creditors? If you find yourself saddled with overwhelming amounts of debt, and fear answering the phone or getting the mail lest you be contacted by a creditor, it might be time to consider your financial options. A fresh start through bankruptcy may be right for you.

Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor.

Bankruptcy may be a way for citizens of the United States to wipe their debts clean or reduce their debt to a manageable level. It may not be easy but sometimes it is necessary. Hiring an experienced bankruptcy attorney can make it easier and less stressful. The laws and process are so complicated that unless you have an extremely straight forward simple case you have to have some help.

Due to recent changes in bankruptcy law you must lay out your financial situation so the court can decide if you qualify to file for Chapter 7 bankruptcy. This type of bankruptcy is a total liquidation of nonexempt assets, which in Wisconsin, include a home with no more than $40,000 in equity, insurance benefits, pensions, personal property and equipment needed for your livelihood.

Bankruptcy lawyers in your state know how important your financial well-being is, as well as your desire to protect everything that you have earned through hard work. Based on your financial circumstances, a qualified Oregon bankruptcy lawyer will advise you on all of the options that are available to you. Your attorney will protect your best interests when dealing with your bankruptcy case in Oregon.

There are six types of bankruptcy under the Bankruptcy Code, located at Title 11 of the United States Code:

Chapter 7: basic liquidation for individuals and businesses;
Chapter 9: municipal bankruptcy;
Chapter 11: rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets;
Chapter 12: rehabilitation for family farmers and fishermen;
Chapter 13: rehabilitation with a payment plan for individuals with a regular source of income;
Chapter 15: ancillary and other international cases.

Lawyers who specialize in bankruptcy law practice have not only extensive education in the relevant bankruptcy and financial laws, but also the experience of handling cases that are similar to yours. They will be able to explain your options to you, guide your choices, and represent you in bankruptcy court.

The complexities of bankruptcy law prove a frustrating challenge to consumers who opt to deal with their financial struggles on their own. Especially since recent changes have been enacted in bankruptcy law, it's more difficult than ever to declare bankruptcy without professional legal help. Experienced bankruptcy lawyers in Oregon can provide a knowledgeable analysis of the circumstances surrounding their clients financial situation when they handle their clients bankruptcy case.

An experienced bankruptcy lawyer can more thoroughly evaluate the circumstances of their clients finances. He or she will do everything possible to make sure that your finances are protected and you receive the best possible outcome under current bankruptcy law. If you're struggling with debt and don't know where to turn, make the American Bar Association your first stop. There, you can find a qualified bankruptcy attorney who will help guide you along the path to financial freedom.


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