Afraid You May Need to File for Chapter 7 Bankruptcy?

Contact the law offices of Harder, Wells, Baron & Manning today. But if you’re unsure if you should file for Chapter 7 Bankruptcy, you should know it typically works best for people who:

  • Have a Significant Amount of Credit Card and/or Medical Debt – Bankruptcy is designed to eliminate debts like these. Usually, it works pretty quickly so you don’t have to wait a long time for a new start.
  • Are Being Harassed by Collectors – Bill collectors won’t just disappear. In reality, the older your debts get, the more aggressive some collectors get. If you file Chapter 7, these collectors are legally prohibited from contacting you. Instead, they have to go through the bankruptcy court. No more harassing calls or letters for you!
  • Don’t Own Much Property (Or Any Property) – In most cases, Chapter 7 offers less protection for your property than Chapter 13 bankruptcy, but some exemptions may allow you to keep your home, car and other valuables.
  • Lack Enough Income to Pay Off Their Debts – In order to qualify for Chapter 7, you need to pass a means test. The attorneys at Harder, Wells, Baron & Manning can help you with this test. The test looks at your income and debts to determine your true needs.
  • Have Below-Average Credit – Filing for bankruptcy will affect your credit score. But, if your score is already low, it probably won’t matter much. The bankruptcy will stay on your report for 7 to 10 years, but you can work to improve your score after filing for Chapter 7. And you should still be able to get car or home loans.

If you live in Oregon, and have questions about Chapter 7 Bankruptcy, call the bankruptcy lawyers at Harder, Wells, Baron & Manning. We have the experience necessary to help you with filing for bankruptcy.