The Law Office of Kim Covington Kim Covington Bankruptcy Lawyer Kim Covington Bankruptcy Lawyer

The number one cause of declaring bankruptcy

What is the number one force pushing people into declaring bankruptcy?

It's not mortgage foreclosures, student loans or maxed-out credit cards. It's something that can happen to anyone, at any time -- getting sick.

Sickness is like an ax falling in your life. Suddenly you must worry about maintaining income, being able to continue working, paying doctor bills - and surviving.

The squeeze

The average family earns about $50,000 in income. Much of that money is already directed toward housing, food, and clothing family members.

If you suddenly must deal with high deductibles, your budget is shot. Hoping for a miracle rescue, you start using credit cards more than you should.

The next stage is desperation

Now, to this already scenario, add the creeping expense of Obamacare premiums, and the even more frightening elimination of Obamacare altogether.

It is easy to see how even a non-life-threatening health problem can turn your financial life upside down.

This is the reason Chapter 7 and Chapter 11 exist - to keep Americans from falling deeper into debt forever.

The Constitution is a pretty wise blueprint, and it provides for relief from unendurable debt, backed by the power and legitimacy of the U.S. government.

Bankruptcy is not an entitlement - it is a right guaranteed by law. Those who try to put the process in a negative light - your creditors - are looking out for their own interests, not yours.

Get well soon

We hope you recover 100 percent, as quickly as possible. In the meantime, consider this "last resort" to solving the problem of unpayable debt.

Declaring bankruptcy and starting over has given a second financial life to millions. It can be your gift, too.

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The Law Office of Kim Covington

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1445 Willamette Street, Suite 9
Eugene, OR 97401

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Albany, OR 97321

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Roseburg, OR 97470

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Phone: 541-393-2790
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