{"id":36269,"date":"2021-10-08T09:00:39","date_gmt":"2021-10-08T16:00:39","guid":{"rendered":"https:\/\/pdxlegal.com\/?p=36269"},"modified":"2022-03-01T06:02:07","modified_gmt":"2022-03-01T14:02:07","slug":"how-can-lawyers-help-with-my-debt-settlement","status":"publish","type":"post","link":"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/","title":{"rendered":"How Can Lawyers Help With My Debt Settlement?"},"content":{"rendered":"<h2><span class=\"ez-toc-section\" id=\"Lawyers_Can_Help_You_With_Debt_Settlement\"><\/span><strong>Lawyers Can Help You With Debt Settlement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-6629da74f09dc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6629da74f09dc\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Lawyers_Can_Help_You_With_Debt_Settlement\" title=\"Lawyers Can Help You With Debt Settlement\">Lawyers Can Help You With Debt Settlement<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#What_is_debt_settlement\" title=\"What is debt settlement?\">What is debt settlement?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#_Why_should_you_consider_debt_settlement\" title=\"\u00a0Why should you consider debt settlement?\">\u00a0Why should you consider debt settlement?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#How_Debt_Settlement_Works\" title=\"How Debt Settlement Works\">How Debt Settlement Works<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Bankruptcy_vs_Debt_Settlement\" title=\"Bankruptcy vs. Debt Settlement\">Bankruptcy vs. Debt Settlement<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#The_Benefits_of_Debt_Settlement\" title=\"The Benefits of Debt Settlement\">The Benefits of Debt Settlement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#The_Drawbacks_of_Debt_Settlement\" title=\"The Drawbacks of Debt Settlement:\">The Drawbacks of Debt Settlement:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Bankruptcys_Advantages_and_Disadvantages\" title=\"Bankruptcy&#8217;s Advantages and Disadvantages\">Bankruptcy&#8217;s Advantages and Disadvantages<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#The_Benefits_of_Chapter_7_Bankruptcy\" title=\"The Benefits of Chapter 7 Bankruptcy\">The Benefits of Chapter 7 Bankruptcy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Drawbacks_of_Chapter_7\" title=\"Drawbacks of Chapter 7\">Drawbacks of Chapter 7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Chapter_13_Bankruptcy_Benefits\" title=\"Chapter 13 Bankruptcy Benefits\">Chapter 13 Bankruptcy Benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Chapter_13s_Drawbacks\" title=\"Chapter 13&#8217;s Drawbacks\">Chapter 13&#8217;s Drawbacks<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#When_Should_Debt_Settlement_or_Bankruptcy_Be_Considered\" title=\"When Should Debt Settlement or Bankruptcy Be Considered?\">When Should Debt Settlement or Bankruptcy Be Considered?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Debt_Settlement\" title=\"Debt Settlement\">Debt Settlement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Bankruptcy\" title=\"Bankruptcy\">Bankruptcy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#How_can_an_experienced_bankruptcy_attorney_help\" title=\"How can an experienced bankruptcy attorney help?\">How can an experienced bankruptcy attorney help?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#What_to_Expect_from_a_Qualified_Attorney_in_Portland\" title=\"What to Expect from a Qualified Attorney in Portland\">What to Expect from a Qualified Attorney in Portland<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/pdxlegal.com\/how-can-lawyers-help-with-my-debt-settlement\/#Got_debt_problems_Consult_a_reliable_bankruptcy_attorney_today\" title=\"Got debt problems? Consult a reliable bankruptcy attorney today!\">Got debt problems? Consult a reliable bankruptcy attorney today!<\/a><\/li><\/ul><\/nav><\/div>\n\n<p><span style=\"font-weight: 400;\">When you have overwhelming debt, it can feel like there will never be an end to it. This is a serious problem that will not typically go away on its own, especially if the creditors aren&#8217;t getting paid. In this case, debt settlement can be an excellent resolution that allows you to get out from under your debt and start fresh.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Can a lawyer help with debt settlement? In few cases, you will need a lawyer if you want to get debt relief. An experienced<\/span><a href=\"https:\/\/pdxlegal.com\/\"><span style=\"font-weight: 400;\"> bankruptcy attorney in Portland, Orego<\/span><\/a><span style=\"font-weight: 400;\">n, can help you reach a debt settlement plan with your creditors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But before going any further, you must understand why a debt settlement is needed, how it works, and why you should consider it.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_debt_settlement\"><\/span><strong>What is debt settlement?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Debt settlement is an <a href=\"https:\/\/pdxlegal.com\/oregon-debt-alternatives\/\">arrangement between a consumer and a creditor<\/a> in which the consumer pays the creditor less than the amount owed. The debt settlement program typically involves negotiation with the creditor&#8217;s debt collector.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"_Why_should_you_consider_debt_settlement\"><\/span><strong>\u00a0Why should you consider debt settlement?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Though bankruptcy is a very common form of debt relief, it is not the only one. At<\/span> <a href=\"https:\/\/pdxlegal.com\/\"><span style=\"font-weight: 400;\">Portland Bankruptcy Attorneys<\/span><\/a><span style=\"font-weight: 400;\">, our lawyers are committed to developing a unique solution for each client.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We recognize that everyone&#8217;s financial position is unique and that each person may approach debt differently based on various variables. If bankruptcy is not your choice, debt settlement may be a more viable choice.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Debt_Settlement_Works\"><\/span><strong>How Debt Settlement Works<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Debt settlement is a procedure in which debtors and creditors agree. Typically, the borrower is represented by a legal advocate to ensure the borrower&#8217;s best interests are protected.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These discussions are often conducted outside of court and may result in the borrower paying less than initially due. Settlement alternatives are often more attractive to debt collectors than bankrupt.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Additionally, since our company focuses only on bankruptcy matters, we understand how to resolve debts in your favor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Individuals who may benefit from debt settlement include the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Those who are unable to file for bankruptcy under<\/span><a href=\"https:\/\/pdxlegal.com\/chapter-7\/\"><span style=\"font-weight: 400;\"> Chapter 7 <\/span><\/a><span style=\"font-weight: 400;\">or <\/span><a href=\"https:\/\/pdxlegal.com\/chapter-13\/\"><span style=\"font-weight: 400;\">Chapter 13<\/span><\/a><span style=\"font-weight: 400;\"> or who have already filed and are no longer eligible<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Individuals who earn a lot of money<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Individuals with a sizeable financial wealth<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Those who oppose bankruptcy on moral or religious grounds<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bankruptcy_vs_Debt_Settlement\"><\/span><strong>Bankruptcy vs. Debt Settlement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Debt settlement and bankruptcy are answers to the same issue &#8211; how to get out of debt the quickest way possible?\u2014 However, they each have their own set of benefits and drawbacks, making it difficult to choose the best one.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you have so many bills or debts that you can&#8217;t fathom repaying them, it&#8217;s necessary to weigh both alternatives to rehabilitate your credit and financial well-being.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While bankruptcy may be the quickest way out of debt, the long-term consequences for your creditworthiness are severe. A bankruptcy will appear on your credit record for seven to ten years, significantly impeding your ability to get a loan, obtain a credit card, or purchase a house.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bankruptcy, handled by a state judge, either <a href=\"https:\/\/pdxlegal.com\/chapter-7\/\">eliminates personal debt (Chapter 7)<\/a> or establishes a three- to a five-year <a href=\"https:\/\/pdxlegal.com\/chapter-13\/\">repayment plan for creditors (Chapter 13)<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike bankruptcy, debt settlement does not need a court filing and is often done without the assistance of a lawyer or financial counselor.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0A debt settlement is an agreement reached with creditors in which you agree to pay less than the whole amount due, often in the form of a lump-sum payment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Benefits_of_Debt_Settlement\"><\/span><strong>The Benefits of Debt Settlement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Access to <a href=\"https:\/\/pdxlegal.com\/time-heals-credit\/\">free credit counseling<\/a> that may assist you in developing and negotiating a debt settlement plan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay a portion of your debt to become debt-free<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Negotiate with creditors via a debt settlement firm to avoid the time and cost associated with bankruptcy.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Drawbacks_of_Debt_Settlement\"><\/span><strong>The Drawbacks of Debt Settlement:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is no assurance that creditors will deal with you.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stopping payments to demonstrate to creditors that you are serious about not paying may result in collections and legal proceedings to garnish your income, further harming your credit as your debt grows.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">When you stop making payments to save for a &#8220;lump-sum&#8221; offer, the late fees and interest incurred will raise the amount of your debt.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you settle a debt, the forgiven amount will be treated as income by state and federal tax authorities, and you will be required to pay taxes on it.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bankruptcys_Advantages_and_Disadvantages\"><\/span><strong>Bankruptcy&#8217;s Advantages and Disadvantages<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"The_Benefits_of_Chapter_7_Bankruptcy\"><\/span><strong>The Benefits of Chapter 7 Bankruptcy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It eliminates the majority of debts and provides a financial new start<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Notifies the filer that they are not required to pay taxes on outstanding debts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Creditors are prevented from pursuing collections<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This may occur in 6-8 months.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Drawbacks_of_Chapter_7\"><\/span><strong>Drawbacks of Chapter 7<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">it may affect your credit report for ten years<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Certain states permit the seizure and sale of a person&#8217;s house and other property. You should check your state&#8217;s exemptions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requires you to wait eight years before filing another Chapter 7 petition.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chapter_13_Bankruptcy_Benefits\"><\/span><strong>Chapter 13 Bankruptcy Benefits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Protects your property, Chapter 13 Bankruptcy Benefits: Protects your property, including your home and automobile, from seizure and repossession to satisfy debts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You will get a discharge of debt after you have made all necessary payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You are not obliged to pay taxes on debt that has been forgiven.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You must wait two years before filing again \u2014 six years less than under Chapter 7.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chapter_13s_Drawbacks\"><\/span><strong>Chapter 13&#8217;s Drawbacks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Requires you to adhere to a court-ordered payment plan lasting between three and five years<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It lowers your credit score for years, making it more challenging to borrow money or get credit.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"When_Should_Debt_Settlement_or_Bankruptcy_Be_Considered\"><\/span><strong>When Should Debt Settlement or Bankruptcy Be Considered?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">If your monthly loan payments, which do not include your mortgage or rent, surpass 20% of your income, you have a serious debt issue.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The severity of the issue, as well as your capacity and desire to overcome it, will dictate whether a debt settlement plan or bankruptcy is the preferable course of action.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Debt_Settlement\"><\/span><strong>Debt Settlement<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Consider the following situations in which debt settlement may be the preferable method of debt relief:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You are capable and willing to arrange a settlement agreement with creditors or debt collectors that you can afford and adhere to.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In return for your promise to make a lump-sum payment, your creditors will agree to decrease your debt load significantly.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Your income is steady enough that you can continue paying your mortgage or rent, as well as other necessary obligations, in addition to the debt settlement payments, while still saving money for unexpected needs.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bankruptcy\"><\/span><strong>Bankruptcy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The following are some situations in which bankruptcy is the preferable course of action:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">All other debt-relief alternatives have been explored or judged inadequate, making bankruptcy a &#8220;last resort.&#8221;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You are in threat or in danger of <a href=\"https:\/\/pdxlegal.com\/foreclosure-defense\/\">losing your home to foreclosure<\/a>, but Chapter 13 bankruptcy may help you make up on missed payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Making debt payments would need a withdrawal from your emergency or retirement funds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You are <a href=\"https:\/\/pdxlegal.com\/how-to-qualify-and-file-for-chapter-7\/\">unable to make any debt payments<\/a> without turning to payday loans with high interest rates.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You&#8217;ve been laid off and are unable to make debt settlement payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Any effort to pay off debt will take longer than five years.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_an_experienced_bankruptcy_attorney_help\"><\/span><strong>How can an experienced bankruptcy attorney help?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Bankruptcy attorneys have been through it and have the direct knowledge necessary to assist people in debt. Additionally, a bankruptcy attorney may help you with the following:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consider all of your alternatives &#8211; there is no one-size-fits-all approach to debt repayment. Having a bankruptcy lawyer on your side enables you to tailor your experience in reducing your debt as effectively as possible.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0If you are charged &#8211; with a bankruptcy attorney on your side, you will be protected if you are summoned to court to resolve your debt.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Avoid bankruptcy &#8211; by working off your debt rather than declaring bankruptcy, you&#8217;re safeguarding yourself from future credit needs. By avoiding bankruptcy, you make yourself more attractive to potential creditors.<\/span><\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Expect_from_a_Qualified_Attorney_in_Portland\"><\/span><strong>What to Expect from a Qualified Attorney in Portland<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A qualified bankruptcy attorney is someone you can trust when it comes to debt settlement and filing for bankruptcy. You must be able to put your faith in your attorney. The lawyer you hire should be someone you can sit down with and discuss your problems and concerns.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In <\/span><a href=\"https:\/\/pdxlegal.com\/\"><span style=\"font-weight: 400;\">Portland Bankruptcy Attorneys<\/span><\/a><span style=\"font-weight: 400;\">, our lawyers are experienced at guiding you through the process of avoiding bankruptcy and reducing debt.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0View instances of how <\/span><a href=\"https:\/\/pdxlegal.com\/testimonials\/\"><span style=\"font-weight: 400;\">we&#8217;ve helped others<\/span><\/a><span style=\"font-weight: 400;\"> and<\/span><a href=\"https:\/\/pdxlegal.com\/contact\/\"><span style=\"font-weight: 400;\"> schedule a free case evaluation now<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Got_debt_problems_Consult_a_reliable_bankruptcy_attorney_today\"><\/span><strong>Got debt problems? Consult a reliable bankruptcy attorney today!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To summarize, I hope this helps to clarify everything you need to know about debt settlement agreements. I also hope that you understand that there are reasons why it might be the best option for you!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your options depend on your financial situation and your needs. You may choose to go with a debt settlement or bankruptcy, but you should at least consider both cases. If you&#8217;re savvy enough to read my blog (or someone shared it with you), then you&#8217;d surely take action &#8211; one way or another!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you need help with debt negotiation or bankruptcy, we&#8217;ve got your back. Our experienced Portland bankruptcy attorneys will talk with clarity about your options in a free case evaluation.\u00a0 We don&#8217;t believe in misleading words or manipulation. Our <\/span><a href=\"https:\/\/pdxlegal.com\/contact\/\"><span style=\"font-weight: 400;\">Portland bankruptcy law firm<\/span><\/a><span style=\"font-weight: 400;\"> educates clients when dealing with collections, harassing creditors, and bankruptcy.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lawyers Can Help You With Debt Settlement When you have overwhelming debt, it can feel like there will never be an end to it. This is a serious problem that will not typically go away on its own, especially if the creditors aren&#8217;t getting paid. In this case, debt settlement can be an excellent resolution [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":36271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"_links":{"self":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts\/36269"}],"collection":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/comments?post=36269"}],"version-history":[{"count":4,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts\/36269\/revisions"}],"predecessor-version":[{"id":36850,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/posts\/36269\/revisions\/36850"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/media\/36271"}],"wp:attachment":[{"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/media?parent=36269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/categories?post=36269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pdxlegal.com\/wp-json\/wp\/v2\/tags?post=36269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}