It is not a surprise that money problems are stressful. Most people understand that stress can cause health problems. However, some Eugene residents may not understand the scope of the damage that can be caused by the extreme stress that comes from unemployment, insurmountable debt, home or car repossession or any number of serious financial challenges.
Filing for bankruptcy is a process that can introduce people to many new terms that they may not have heard or before, or terms that they may recognize but do not know the definition of. One of these terms is foreclosure, which is a word of key importance to anyone who is involved in the bankruptcy process due to the potential risks that it represents.
People who have been harassed by creditors know what a daunting and scary experience it can be. Creditors can threaten to take away items like your car, house or even wages, but they can also be fended away from a number of assets through asset protections, as well.
One worry that you may have about falling behind on your vehicle payments is that you may soon be at risk for repossession. The longer you wait between going into debt and filing for bankruptcy, the more time creditors will have to repossess your vehicle.
Economic challenges have plagued many Oregon residents, especially since the recession began. Even with some signs that the economy is rebounding, many people continue to struggle and face ongoing threats of repossession, wage garnishment, bankruptcy or more. Asset forfeiture can affect a person’s ability to keep a car, a home or any other type of personal property that has some real value.
Consumers struggling through the continued challenging economy know the fear of losing valuable possessions as well as the stress of being unable to pay their bills. Depending upon the situation, a creditor can garnish your wages or take your car, home or other belongings. The need to stop repossession, garnishment and more is shared among many Oregon residents.
When people start to have financial difficulties, their problems often start to snowball out of control. A few missed card payments, for instance, can lead to the repossession of the vehicle which then makes it more difficult to get to and from work. This can lead to the loss of employment and even more financial challenges. Fortunately, there are ways to stop vehicle repossession in Oregon and overcome such problems.