These days, finding yourself overwhelmed by debt and struggling to make monthly payments is a common problem that faces many Americans, as job loss and persistent unemployment can make it especially difficult for some to pay down their debts or even save money.

What can complicate snowballing debt caused by unemployment are expensive medical bills and/or divorce, both of which are leading causes of bankruptcy filings in the U.S. In such cases, those who feel like they are drowning in debt and who may be facing wage garnishments, repossession of their vehicles or even foreclosure on their homes should keep in mind that:

• The sooner they act to resolve these debts, the better off they will be (especially considering that interest will only compound the debts and that, once a wage garnishment has been enacted, it’s difficult to stop it).
• Filing for bankruptcy can help them get out from under their debts and achieve a financial fresh start.
• Working with an experienced bankruptcy lawyer can ensure that their sensitive financial matters are resolved as advantageously as possible.

To talk to Attorney Cramer about arbitrating your case, call (541) 994-7350.

• Chapter 7 bankruptcy cases (in which some of a borrower’s assets are liquidated to pay off creditors while most of his debts – like credit card and medical debts – are discharged)
• Chapter 13 bankruptcy cases (in which borrowers establish a repayment plan to pay off their outstanding debts over the course of three to five years)
• Chapter 11bankruptcy cases (in which businesses can reorganize themselves in order to continue operating during bankruptcy and to develop a payment plan to pay off their debts)
• Other bankruptcies for businesses (including limited liability corporations, partnerships, small business and larger corporations)
• Debtors with a history or one or more previous bankruptcy filings
• Negotiations of debt settlement