Lake Oswego Bankruptcy Attorneys

Professional Plans to Handle Debt

Debt happens to millions of Americans every year. Unfortunately, not all of those people in debt take the time to find a way out of it.

At Pacific Cascade Legal, our Lake Oswego bankruptcy attorneys are here to help you uncover the benefits of bankruptcy if you’re in debt. A well-made bankruptcy petition can be the most effective way to get rid of overwhelming debt forever. Let’s explore your options today, so you can work towards a debt-free tomorrow.

On This Page

• Benefits of Bankruptcy
• Chapters of Bankruptcy
• Will Bankruptcy Hurt Your Credit Score?

Call (503) 564-7713 or contact us online at any time.

Benefits of Bankruptcy

Don’t let creditors, banks, and debt collection agencies convince you that bankruptcy is always a bad thing. The truth is that bankruptcy is a great solution for thousands of debtors every year. You might be able to enjoy all its benefits with minimal risks to your property, too, if you team up with Pacific Cascade Legal in Lake Oswego.

A few bankruptcy benefits are:

• Removing most or all of your debt
• Creating a manageable debt repayment plan
• Letting you rework a vehicle that’s worth less than what you owe
• Halting or delaying home foreclosure
• Preventing creditors from contacting you while the bankruptcy processes
• Blocking wage garnishments that would drain your paychecks

Chapters of Bankruptcy

Bankruptcy is not a singular legal process that anyone with debt can use. Instead, it is divided into separate chapters, each with its own purpose, benefits, and risks. We would love to sit down with you to figure out which bankruptcy chapter is best for you if any.

Three commonly used bankruptcy chapters are:

• Chapter 7: Chapter 7 bankruptcy attempts to discharge all unsecured debt at once. It is useful for people with heavy debt and a comparatively minimal income.
• Chapter 13: Chapter 13 attempts to reduce and reorganize debt, so that some of it can be repaid. It is useful for people with a regular income but not enough to get ahead on credit payments.
• Chapter 11: Chapter 11 is often used for small business owners in debt. It can allow debt to be reduced or eliminated while allowing the business to remain in operation.

Will Bankruptcy Hurt Your Credit Score?

We would never mislead you or withhold important information from you, which is why we have to tell you that bankruptcy always has risks. For all of its benefits, there can be some downsides. One such downside is that filing for bankruptcy can hurt your credit score.

Part of our job as your chosen bankruptcy attorneys will be to minimize the risks of bankruptcy and maximize its benefits. If you’re worried about your credit score, for example, then you should know that staying in debt or missing regular payments can hurt it even more than filing a bankruptcy petition. Also, damage to your credit score can be temporary if you take the right steps to fix it when the bankruptcy case is finished.

We’ve Helped Hundreds of Clients – Call Now

As debt adds up, it can be easy to lose track of your options and feel stuck in the shadow of it. Please call (503) 564-7713 now to connect with the Lake Oswego bankruptcy lawyers of Pacific Cascade Legal. We want to show you the way out of heavy debt, starting with an initial consultation with our team.