We live in a time where most people live paycheck to paycheck, and the idea of an emergency fund is non-existent. When people encounter an emergency, oftentimes they will use their credit card to cover the unexpected expense simply because they have no other choice. If you are able to pay off the expense in a timely manner, the debt may not become a burden, but if you were able to pay off the expense, you would probably have built up an emergency fund in the first place. If you have seen your credit card debt slowly grow to the point that you can’t keep up, it may be time to explore the option of filing bankruptcy. Read more →
Bankruptcy & Family Law Blog | Law Offices of W. George Senft
Commuting to work is a necessary part of employment. Some people take public transportation, which may not always be an option. One of the biggest fears when it comes to considering bankruptcy is losing your vehicle. This could make it impossible to earn a living. There is good news; the courts understand this, so in most cases, you will not lose your vehicle. There are many choices when it comes to filing for bankruptcy, and one of the first choices is which chapter to file. Read more →
People love freedom, and one of the first times you truly experience freedom is when you get your first car. Whether your car means freedom or simply gets you from point A to point B, it is necessary for most of us to be able to earn a living. Many of us find ourselves in debt and are forced to consider bankruptcy, but often one of the first questions is, what will happen to my car? Ultimately bankruptcy is designed to help you, not cripple you. Don’t worry, I’ll review your case and make sure that you are able to move forward with your life.
One of the biggest fears people have when considering bankruptcy is that they’ll lose their property. What happens to your car or home depends on several aspects of your case, including which chapter you’re filing. Many people choose a Chapter 13 and include their home and car payments in their repayment plan. This keeps the property safe. If you choose a Chapter 7, you’ll need to keep your property insured and stay current with payments. You may also be asked or required to sign a reaffirmation agreement, which tells your creditor that you agree to stay up to date on payments. If you don’t, your property could be repossessed. If you’re faced with this situation, I’m here to help.
People have a variety of ways of relating to and managing their money. Often, this is driven by our experiences or emotions. Some of us don’t spend much time or energy on financial management, and instead just spend money to meet our needs. Some people, on the other hand, may be fearful of money, worry there won’t be enough, or constantly think about how to get more. Part of the bankruptcy process is completing online Credit Counseling Courses, which can help with budgeting while rebuilding your credit. As you prepare for your future, it’s important to explore how you relate to and think about money, in addition to creating a current, realistic budget.
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Filing bankruptcy in Oregon can be a whirlwind experience with emotional highs and lows. You may become discouraged when you think of the negative consequences of filing, such as a lowered credit score, and you may even fear losing important possessions, such as your home. For most people, the benefits of filing far outweigh the drawbacks. Once you file, you won’t need to deal with debt collectors, and you could be debt free. Many factors go into determining what happens to your property, but I’m here to build a case for you that will discharge as much debt as possible while protecting your property.
Being in debt is stressful, but things can get really intense when you start to struggle to keep up with your basic expenses, such as rent. Making a late payment here and there may be ok, but some landlords are quick to move toward the eviction process. If you’re renting and considering bankruptcy, it’s best to work with a professional who can guide you. Read more →
Often, missed bill payments are the first indicator that your financial situation needs revision. If you cut your payments close each month, it’s time to take a close look at your budget. If you’ve cut all of the unnecessary expenses but are still struggling to make timely payments, you may begin getting calls from creditors and bill collectors. When you start to fall behind, it can be tempting to ignore these calls, but you’re the only one you’ll end up hurting this way.
If you take the time to talk to your creditors, they may be willing to set up a payment plan for you or may even have some funds set aside for people with financial need. Doing so allows them to forgive a portion of your debt. They would rather receive small, steady payments than nothing at all. If you can’t come to an agreement, your debt may be referred to a collection agency. This could happen after one missed payment or could take months, but this action will show on your credit history and lower your score. Read more →
Bankruptcy is an extremely useful tool to help you get out of unmanageable debt and start fresh financially. However, some people don’t change their spending habits and spend their way right back into debt even after a bankruptcy. I’m here to help walk you through establishing good spending and saving habits so that you start off your new financial life in the right direction. Read more →
Some of us are more prone to worry than others, but most people can agree that being in debt that is impossible to pay off can be scary. Some of the fear can be traced to untrue myths that people often share about bankruptcy, such as people becoming destitute and homeless by filing. Even if your fears aren’t that extreme, you may wonder what happens to your car or home if you file. You may feel that bankruptcy is probably the best option for you to make a new start, but avoid filing because you aren’t sure of the actual consequences of that decision. Let’s get together so that I can give you an accurate idea about how bankruptcy works and the best ways to rebuild your credit after filing. Read more →