Providing the Legal Advice You Need to Get Back on Your Feet
Struggling to pay off your debts can make anyone feel hopeless, especially once the harassing phone calls and letters from creditors start rolling in. Now is not the time to give up. Filing for bankruptcy can provide the path you need toward obtaining a healthier financial future and a renewed sense of hope. Pacific Cascade Legal is committed to helping Wilsonville clients revive their finances. Reach out to Attorney Wisehart for the debt relief you need during this difficult time.
Contact Pacific Cascade Legal in Wilsonville today at (888) 981-9511 to arrange a free initial case review and learn more about your options.
Making the Right Choice for Your Finances
Before filing for bankruptcy, you should understand what type of debt you owe and whether filing for bankruptcy will wipe out all or most of it. Otherwise, filing for bankruptcy might not provide the debt relief you are seeking.
Below are the types of debt that are generally not dischargeable when filing for bankruptcy:
- Past due child support
- Past due alimony or spousal support
- Certain tax debts
- Penalties or fines owed for breaking the law
- Debt owed as a result of an accident caused by drunk driving
- Student loans
- Debts for luxury purchase made within 90 days of filing
Below are some of the debts you can usually discharge when filing for bankruptcy:
- Credit card debt
- Past due utility bills
- Personal loans made by family or friends
- Medical bills
Chapter 7 or Chapter 13?
Depending on your income, you may only qualify for one of these options. If you wish to file for a Chapter 7 bankruptcy, you must first pass the means test. As a general rule, if your monthly income is below your state’s median level, you might qualify.
Below are some other signs you might qualify for a Chapter 7 bankruptcy:
- Your debts equal to more than half your annual income
- You have very little or no disposable income
- It would take 5 years or more to pay off your debts
Unlike a Chapter 7 bankruptcy, debtors considering a Chapter 13 bankruptcy must have a higher income to pay off creditors through a structured repayment plan. If a debtor earns too little or does not have any disposable income, it would be impossible to faithfully make these payments. Discuss your options with Pacific Cascade Legal today!
Schedule a Free Consultation Today!
Pacific Cascade Legal understands the hardships individuals and families face when they cannot pay off their debts. We will help you review your options and advise on the best path toward a brighter financial future.
Get started and contact Attorney Wisehart at (888) 981-9511 to arrange a free initial consultation today.