Discuss Unfair Debt Collection With a Bankruptcy Lawyer

If you are getting phone calls from collection agencies that are getting out of hand in one way or another, you may want to discuss your situation with a bankruptcy lawyer. We serve clients in Salem, Roseburg, Medford, Klamath Falls, and numerous other cities in Oregon, and we also have offices in Washington. Many of our clients reach out to us because they simply cannot tolerate the nature of the collection calls that they are receiving, and we can always provide solutions.

The Fair Debt Collection Practices Act (FDCPA) spells out guidelines that collection agencies must abide by when they contact debtors. We should emphasize the fact that it is not applicable when a creditor is contacting you directly. The FDCPA protections do not apply until and unless the debts are handed over to a collection agency.

One of the provisions contained within the Fair Debt Collection Practices Act will provide you with immediate relief if you engage our firm to represent you. Once the collection agency is aware of the fact that you have legal representation, they cannot contact you directly; they would have to communicate with us. This is a very efficient way to get the collectors off your back as we work with you to develop a debt relief strategy.

Bankruptcy is going to be the right choice for many people who are struggling with a significant level of unmanageable debt. After you engage our services and the collection calls come to a halt, you could potentially file for bankruptcy. If you decide to go this route, you would get an automatic stay. This would temporarily stop most collection efforts, and this could apply to your original creditors as well as the collection agencies.

You would typically choose between a Chapter 7 and a Chapter 13. With a Chapter 7 bankruptcy, unsecured debts can be completely discharged, and you can go forward with a fresh start. A Chapter 13 bankruptcy is a reorganization that allows you to use your disposable income to pay back your debts, or a portion of your debts, over time. The form of bankruptcy that is right for you will depend upon the circumstances. In either event, the collection calls will cease, and you will be able to move on with your life free of debt collector harassment.

There is no reason to accept abuse from a collection agency representative who is stepping out of bounds. Help is just a phone call away, and our firm offers free case evaluations for people in Vancouver and Tacoma, Washington and just about everywhere in the state of Oregon. If you would like to reach out, you can give us a call right now at 1-800-682-9568.

Can’t Pay Student Loan Debt? Here Are Your Options

If you have not looked at the subject in a while, you may be unpleasantly surprised when you learn about the current state of college tuition costs. The College Board has compiled some very meaningful statistics that shed light on the subject. During the 2016-2017 school year, the average annual cost for private college tuition was over $33,000. The average tuition charge for a public university was about $9600 for in-state students, but that figure skyrocketed to almost $25,000 for students from out-of-state who are attending public institutions of higher learning.

The cost of a college education is considerable, but at the same time, the price that you will pay if you go through life without an educational underpinning will probably be much more significant. However, when you digest these tuition figures (and they don’t include living expenses and supplies), you can understand why so many students accumulate significant student loan debt. According to Forbes, the average amount of student loan debt that was being carried by students in 2016 was just over $37,000. Of course, this is the average, so some students owed much more.

Can Bankruptcy Help?

Many students who graduate from college don’t earn enough money to keep their student loan payments current. Plus, there are individuals who are carrying student loan debt who never actually graduated. It would make sense to assume that you could file bankruptcy to wipe away your student loan debt, but in fact, bankruptcy is rarely going to be an option. Student loan debts are not discharged through a Chapter 7 or Chapter 13 bankruptcy filing unless you can prove that paying the debts would create an undue hardship for you. Very few people will be able to convince the court that they are in this position.

Outside of Bankruptcy

There are a few actions that you can consider if you are drowning in a sea of student loan debt. A lender may grant you a deferment or a forbearance that would suspend your payment plan for a temporary, agreed-upon interim. Plus, a number of federal student loan forgiveness programs exist, and this is an avenue that is worthy of exploration.

Schedule a Consultation Today

If you would like us to review your financial situation, including your student loans, we would be glad to provide a free case evaluation. We have offices in many different cities in Oregon including Eugene and Portland, and we also have locations in the state of Washington. To set up an appointment, send us a message through our contact page.

Bankruptcy Silver Lining: Learn From Your Mistakes

They say that experience is the best teacher, and this is certainly true when it comes to the way that you handle on your financial affairs. If you never make any serious mistakes, that’s the best-case scenario. However, there is a silver lining of sorts that you could draw from if bad decision-making leads you to a bankruptcy filing. Many people who have this experience use it to their advantage, and they become very responsible and financially conservative going forward.

You could start to apply a new perspective right away when you are creating post-bankruptcy budget. If you file for Chapter 13 bankruptcy, which is a reorganization, you will be required to stick to a repayment plan over a three to five-year period. The structure in and of itself will help you to develop a sense of financial discipline. After the bankruptcy has been discharged, you will invariably emerge with a better understanding of your monetary limitations as you continue to rebuild your credit standing.

The other type of bankruptcy that is most commonly used by individuals who are overwhelmed by debt is a Chapter 7 bankruptcy. With this type of bankruptcy, unsecured debts like credit cards and health care bills can be completely discharged. You would be allowed to maintain ownership of your home and your car if you are current on the payments. Once you are free of the burden of the unsecured debt, you will probably find it much easier to pay your other bills.

Perhaps surprisingly, you may be able to obtain lines of credit shortly after you file, because your debt to income ratio will improve. Plus, you would not be able to file for another Chapter 7 bankruptcy for eight years, and this would be a positive in the eyes of lenders. However, this is a dangerous area to get into right after filing for bankruptcy. Plus, the interest rates and fees will be higher to reflect the perceived risk.

If you are having trouble keeping up with your bills, you should certainly explore the legal options that are available to you. We have offices in Tacoma, Vancouver, Tri-Cities, and many different cities in the state of Oregon. Our firm offers complementary consultations, and you can set up an appointment if you send us a message through our contact page.