Based in Portland, Oregon, Michael D. O’Brien & Associates, P.C. helps individuals and families find relief from debt by using the protections afforded under bankruptcy law. If you have recently gone through a divorce, suffered a job loss, or cannot make ends meet for another reason, we can help you take control of your financial future and make a fresh start through Chapter 7.
Chapter 7 bankruptcy, often referred to as liquidation, basically allows individuals to sell off assets in order to pay creditors. When you file for bankruptcy, the bankruptcy court will step in and determine how your debts will be repaid, sometimes eliminating or cancelling debts. Chapter 7 may be a practical solution in situations involving:
- High credit card debt or medical bills
- Inability to pay monthly bills as they come due
- Repossession deficiencies on vehicle loans
- Lost income because of wage garnishment
- Harassment or threats of lawsuits from creditors
Generally, once you file for bankruptcy, creditors may not contact you regarding collections, and may no longer initiate or continue legal proceedings against you. This injunction is referred to as an ‘automatic stay.’ In fact, once you are under the protection of the bankruptcy court, you will most likely only have to deal with the court and the designated bankruptcy trustee, rather than the creditors themselves. Many who file for bankruptcy find that this relief from constant creditor harassment greatly reduces stress and anxiety, allowing them to focus on the task at hand–financial recovery.
Chapter 7 Bankruptcy Done Right
If Chapter 7 or any bankruptcy is a viable course of action for you, it is imperative to take action as soon as possible. There are important rights that you may lose by waiting to file, most of which cannot be recovered through bankruptcy. We will take the time to fully understand your financial situation and help you determine if bankruptcy is your best option. Should you decide to file, we will work with you to facilitate the process, while ensuring that you receive every protection and benefit available to you.
Equally crucial to the overall success of the bankruptcy process is the completeness and correctness of the initial filing; because once you file, you cannot undo it. For example, if you fail to include debts in your filing paperwork, they cannot be discharged even if they would have otherwise qualified for cancellation. Therefore, it is in your best interest to be forthright about all of your debts. We can help you make sure that you do not overlook any debt obligation so that you are in the best financial position possible coming out of bankruptcy.
Seek Experienced, Personal Representation
If you are facing financial difficulties and mounting debt, we can help restore you to positive financial health. Please contact Michael D. O’Brien & Associates, P.C. to discuss your options under bankruptcy law. We offer free initial consultations on most matters, and always provide discreet, professional legal counsel.