Bankruptcy Attorney Cottage Grove OR
If you’ve been contemplating bankruptcy as you go over your budget and finances, then chances are, you’re looking for the bankruptcy attorney who will best meet your needs. While larger firms do exist, they focus on volume and not personal consideration.
At Butcher Law Office, LLC, we meet with each one of our clients and give them the personal attention that they deserve. You’re not a case file to us. You’re an individual who is in a difficult position attempting to do their best to get out of it.
If you’re struggling with crippling debt, the following article will provide you with a broad overview of our services and how bankruptcy might help.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy handles unsecured debt like personal loans, credit card debt, and medical debt. These debts can pile up resulting in creditors filing lawsuits and making harassing phone calls. Chapter 7 bankruptcy offers you a way out.
At the end of your Chapter 7 bankruptcy, all of your unsecured debts will be discharged. While the liquidation of valuable assets is a risk you run under Chapter 7, most folks don’t have valuable assets to liquidate. Otherwise, they wouldn’t be filing for bankruptcy.
The trade-off with Chapter 7 is that the bankruptcy will remain on your credit report for the next ten years and your credit score will likely take some kind of hit. However, your credit score is probably not in a good place, or else you wouldn’t be contemplating bankruptcy.
After your bankruptcy has been processed and your discharge is granted, you can begin rebuilding your credit and start over with the clean slate.
If you think Chapter 7 sounds right for you, call Butcher Law Office, LLC today for a free hour-long consultation.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is an option for those who have a lot of secured debt. Secured debt includes mortgage payments, car payments, or any debt that is secured against the purchase item. Payments are made monthly over three or five years to clear up any arrearages that may have accrued. You will still need to continue making payments on your home or car if you intend to keep it.
In Chapter 13, debts are categorized according to hierarchy. Back taxes and unpaid child support are at the top of the list, secured debts come next, and unsecured debts come last. At the end of your Chapter 13, you may qualify to discharge some of your unsecured debt.
Chapter 13 has the ability to manage secured debt. It is ideal for those facing foreclosure or car repossession. Your credit score will likely take less of a hit than it would under Chapter 7. Lastly, the bankruptcy only stays on your credit report for seven years as opposed to ten.
Stop or Prevent Wage Garnishments
One common tactic against those who owe medical debt, is to file a lawsuit against the debtor and gain a judgment against them. If the creditor succeeds in getting a judgment, they can then garnish your wages, levy your bank account, or place a lien on your home.
To garnish your wages, your creditor contacts your employer and sends a demand letter to withhold a certain amount of money from each check. Your employer is obligated to comply with this demand. Not only won’t you be going home with the full value of your wages, but you will likely suffer the embarrassment of disclosing private financial information to your employer.
You don’t want any of that to happen, so we generally recommend that you file for bankruptcy before the creditor gains a judgment against you in court. If your wages are already garnished, you can stop future garnishments by filing for bankruptcy.
Preventing Foreclosure in Cottage Grove, OR
One of the key components of bankruptcy is the automatic stay. The automatic stay prevents your creditors from taking any actions against you. This includes foreclosure. The automatic stay can delay a foreclosure, but in order to prevent the loss of your home, you can file under Chapter 13 bankruptcy.
Chapter 13 allows you to repay arrearages on your mortgage while keeping future mortgage payments current. If you’re afraid of losing your home, call Butcher Law Office, LLC. We can help.
Preventing Car Repossession in Cottage Grove, OR
An auto lender can repossess a car after you’ve missed only one payment. To prevent this, bankruptcy provides an option. As soon as you file the repossession is placed on hold until your bankruptcy is sorted out. If you wish to keep the car, you can file under Chapter 13, but you will need to roll both the arrearages and future payments into your Chapter 13 repayment plan.
If you can’t afford to lose your car, bankruptcy may be an option. Call Butcher Law Office, LLC to learn how we can help.
Debt Collector Harassment
If you’re being hounded by debt collectors, you should know that you have certain rights under the law. Debt collectors must adhere to a series of regulations that place limits on their conduct. They cannot harass you at all hours of the night, lie to you, swear at you, or tell your relatives or employers that you owe a debt.
If creditors are harassing you, Butcher Law Office, LLC can help.
Talk to a Bankruptcy Attorney Today
If you’re having difficulty making ends meet, are trying to save your home from foreclosure or your car from repossession, Tom Butcher at Butcher Law Office, LLC can help. We provide personal one-on-one attention to each of our clients and will stand with you in court and your meeting of creditors. Call us today to schedule a free hour-long consultation.
The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. Contacting us does not create an attorney-client relationship.