paustin@pennyleeaustin.com
541-770-6720
Bankruptcy Attorney Serving Jacksonville, OR
You may be frightened if you are facing financial hardship, and the idea of declaring bankruptcy might not ease your worries. Hiring a bankruptcy attorney is the best way to assuage your fears.
Serving Medford, White City, and Central Point, OR
Penny Lee Austin, Attorney, is proud to serve the people of Medford, OR; White City, OR; and Central Point, OR. I offer expert experience as a bankruptcy attorney who has helped set clients up for success for over 30 years. I am the former chair of the Debtor/Creditor Executive Committee of the Oregon State Bar, so my understanding of Oregon bankruptcy law is hard to match.
My goal is to make the entire bankruptcy process as smooth for you as I possibly can. Here I explain your options for bankruptcy as well as why declaring bankruptcy might be your best option.
If you have any lingering questions about bankruptcy in Oregon or if you would like to hire me to represent you as your bankruptcy attorney, explain your needs to me in an email to paustin@pennyleeaustin.com and I will be happy to help you.
What Are Your Options?
Depending on your circumstances, you may qualify for Chapter 7, Chapter 11, or Chapter 13 bankruptcy. These are the most common forms of bankruptcy for individuals to file.
Chapter 7 bankruptcy is the most straight forward and most common form of individual debt relief. With chapter 7, your assets are liquidated to pay off your debts. For example, you may sell your home, sell your vehicle, or divest stocks and bonds in order to have enough money to pay off your debts.
Chapter 11 bankruptcy is most often used by businesses, but it can work for individuals too. Under Chapter 11, you are allowed to reorganize
your debts and pay them back over time. If you don't qualify for Chapter 13 but are still able to make payments each month, Chapter 11 may
work for you.
Chapter 13 bankruptcy gives you three to five years to repay your debts. If you do not want to fore close on your home, this is the best option.
Under Chapter 13, your debts are taken over by a Trustee. You make regular payments to the Trustee, who then distributes the money to your
creditors.
Why File for Bankruptcy?
No matter which type of bankruptcy you choose, you can see a reduction in your stress and the hassle of dealing with creditors. Part of a
bankruptcy attorney's services include dealing with your creditors on your behalf.
If you think bankruptcy may be helpful in your financial situation, don't hesitate to call Penny Lee Austin, Attorney. You can reach my office in
Medford, OR, at 541-770-6720 .