When you are living under the weight of serious debt, it can have a major impact on your life, your happiness, and your physical and emotional wellbeing. While many people fear bankruptcy, and the negative consequences it has on their credit and ability to get loans, bankruptcy can sometimes be the best solution to financial difficulties. It will get the collectors off your back and give you a fresh chance to rebuild your credit.
For individuals owed money by someone who has filed bankruptcy, default and suspended payments can have the same stress and impact. The creditor may even find themselves facing bankruptcy. Getting payments restarted or recovering collateral from a debtor in bankruptcy frequently requires the assistance of an attorney experienced with creditor rights in bankruptcy.
When your debts have gotten out of control, or a lender has started the foreclosure process against your home, you need an attorney with experience in handling bankruptcy and foreclosure cases. By creating a feasible repayment plan, you can save your home, get out from under the pressure of debt collection, and pay your debts back in a time frame you can handle. Judson M. Carusone is a bankruptcy and foreclosure attorney based in Eugene, Oregon who provides direct and personal representation in bankruptcy.