If you’re struggling with unmanageable debt and unpaid bills, you are probably already familiar with letters and phone calls from debt collectors. Like most Oregon residents who are in the same situation, you are probably wondering which actions taken by creditors are permitted by law and if there are any that are prohibited.
December 2014 Archives
Despite numerous encouraging examples about the healing economy provided in recent posts, many Oregon residents still suffer from financial challenges. These may either be long-term or could have been brought on suddenly by unforeseen circumstances, such as an illness, divorce or unemployment. Not surprisingly, these situations can place a great strain on families, especially when they result in additional hardships such as losing property to repay creditors.
People who suffer from financial challenges may be tempted to pay their bills through the quick fix of a payday loan. This type of loan can look particularly attractive to people after a personal bankruptcy, when it can be difficult for a while to get approved for credit. However, payday loans can be a dangerous financial trap, especially for Oregon residents who are putting their lives back together after a Chapter 7 or Chapter 13 bankruptcy.
When you are facing financial challenges, the last thing you need to deal with is the threat of home foreclosure or the repossession of your vehicles. At The Law Office of Kim Covington, we understand the stress you may be feeling as you attempt to handle overwhelming debt. We also know how some creditors can make this time in your life especially difficult. You are not alone – countless Oregon residents are going through the same thing and have turned to bankruptcy for relief.
After receiving a bankruptcy discharge, you may be feeling lost and wondering what to do next. Will you ever be able to repair your credit? Should you apply for new loans, or is that a bad idea? Fortunately, there are many options for Oregon residents after a Chapter 7 or Chapter 13 bankruptcy that can help them restore their credit. Because personal bankruptcies don’t carry the same financial and social stigma they used to in years past, recovering from a bankruptcy is often easier than you might think.