If your household finances feel out of control, you can use bankruptcy as a trampoline to bounce back from debt. Bankruptcy can stop creditor harassment, threats of foreclosure and can even wipe away your debt entirely. This may significantly reduce your stress and start you on the path to better credit. However, it is not a decision to make lightly.
You can file bankruptcy under one of two categories, Chapter 7 or Chapter 13. One may fit your situation better than another depending on your state. You might be able to keep your home and other assets. Only a financial advisor in Oregon can make the best recommendation for you.