For some people getting things done without any help is a matter of pride, but bankruptcy is one of those things that you can’t do on your own. Your Portland bankruptcy attorney is there to help you get through the stressful process of filing, and fighting off creditors or financiers. The business world can be tough sometimes, and not every one has a job that pays what it should. If you have gotten to the point where your debt has taken control of your life there are a few steps you can take. Bankruptcy should never be the first thing you attempt, there are serious consequences that stick with you for a long time that could effect the way you live.
If bankruptcy sounds like an option consider some of the other options first. Debt consolidation is a good option for home owners and people who have accrued a debt that not from a business. Debt consolidation means you will have to find a way to pay back the majority of the debt, but usually makes it much easier to afford. Credit counseling is a good option too. Credit counseling is great for those who have accrued a debt related to loans, lines of credit or other no cash transactions. If you can manage to find a way to reduce your debt to make it more manageable it will often work out much better than bankruptcy will in the long run. Bankruptcy is not the ticket to financial freedom some people think it is.
After filing bankruptcy it will stay on your credit for ten years, and will prevent you from qualifying for almost any kind of loan or credit line. If you file bankruptcy you will not be able to rebuild a business you might have had, and you will be forced to start over completely with almost all your financing. For detailed information about how bankruptcy will affect you, talk to your Portland bankruptcy attorney. Your attorney will be able to walk you through the filing process, and help make sense of the complex and confusing laws concerning bankruptcy.