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Overcoming the burdens of debt through Chapter 7 bankruptcy

Constantly dealing with overwhelming amounts of debt can place a substantial financial weight on a person. Individuals in Oregon and elsewhere who experience the strains of debt may wish to pursue relief, but with little to no experience in the area, they may be uncertain where to turn for advice. Those who are facing similar circumstances could benefit from seeking guidance on the potential advantages of filing for Chapter 7 bankruptcy.

While there are numerous available options for those experiencing severe financial hardships, Chapter 7 bankruptcy is one of the more prevalent options with which to seek relief from debts. However, some may have a certain level of reservation concerning the process, which may in part be due to the liquidation of assets. While this type of bankruptcy does call for the liquidation of certain assets, this doesn't necessarily mean all of them, and a person might be able to retain many or most of his or her possessions after filing.

Another area of concern for many concerns the impact on credit. However, an individual who experiences prolong periods of financial struggle may already be suffering in this area, and one could begin rebuilding his or her credit shortly after filing for bankruptcy. One of the advantages of Chapter 7 is that it could provide an individual with immediate relief through the discharge of unsecured debts, such as those pertaining to credit cards and medical bills.

Individuals who suffer through prolonged periods of financial struggle could benefit from seeking counsel from an experienced attorney. By speaking with a bankruptcy attorney, a client in Oregon could obtain advice on the available options for relief, as well as the potential outcomes of each in turn. An attorney can address a client's financial concerns and needs and assist in pursuing relief through the necessary outlets.

Source:, "Too Much Debt? How to Make a Smart Decision About Filing for Bankruptcy", Paul Kiel, Sept. 28, 2017

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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.

The Law Office of Kim Covington

The Law Office of Kim Covington
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