Compassionate Legal Assistance for Clients Facing Bankruptcy
Pacific Cascade Legal guides clients through the complicated bankruptcy process in Oregon. If you have become insolvent, meaning you cannot repay your debts, we can help you file for bankruptcy. Although bankruptcy may seem like a last resort, it can provide financial relief and help you get out from under the debt burden. As a Tigard bankruptcy lawyer, Attorney Wisehart will listen to your concerns, and will provide informative services every step of the way. Contact our office today to learn how Attorney Wisehart can help your situation.
Understanding Chapter 7 Bankruptcy
Chapter 7 bankruptcy allows insolvent individuals to liquidate all their non-exempt assets to repay their creditors. Once all the non-exempt assets are gathered, a bankruptcy trustee will sell them and use the proceeds to pay debts. Anything left over that the assets are not able to cover will be considered discharged, and creditors may not legally contact you again once the bankruptcy is complete.
Exempt assets that you may be able to keep include:
- The family home
- Vehicles
- A limited amount of clothing
- Work tools
- Household items
All other assets that a person owns will be liquidated during the Chapter 7 bankruptcy process. Federal and state exemption laws may allow you to choose which assets to keep. This type of bankruptcy differs from Chapter 13 bankruptcy, which allows a person to create a repayment plan to pay off debts instead of selling assets. Only those who do not have a regular means of income may file for Chapter 7. Attorney Wisehart can analyze your situation to determine if you are eligible for Chapter 7 bankruptcy, and answer your questions from start to finish.
Committed to Meeting Your Legal Needs
Pacific Cascade Legal is dedicated to the needs of our clients. We know you are going through an extremely stressful time. That is why we will work hard to understand your situation and determine an effective legal strategy for your case. Whether you are pursuing relief through Chapter 7 or 13 bankruptcy, we will walk you through the process. With his experience as a Tigard bankruptcy lawyer, Attorney Wisehart can diligently represent your case.
Call today at (888) 981-9511 to request a free consultation.