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BANKRUPTCY

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Are you ready for a fresh start?

Chapter 7

   Chapter 7 is the chapter of bankruptcy most people would choose.  It is an inexpensive and speedy remedy that immediately stops creditor actions (lawsuits, foreclosures, repossessions, garnishments and collection agencies) and quickly discharges your dischargeable debt.  It works best if most of your debt is unsecured debt like credit cards, medical bills and personal loans.  

 

   Most (and I mean the vast majority) of my clients do not lose any property in a Chapter 7 Bankruptcy.  In Oregon you can decide whether to use the state bankruptcy exemptions or the federal bankruptcy exemptions.  Both are very generous and cover both real property (house) and personal property (cars, checking and savings accounts, furniture, etc.).  Your retirement savings are absolutely exempt in any amount.

   Eligibility:  To be eligible for Chapter 7 Bankruptcy you must be under median income for your household size (or, your debts are primarily business debts or you come within other exceptions) and you have not received a discharge in a prior Chapter 7 filed within 8 years or a Chapter 13 filed within 6 years.

 

   The best way to decide whether Chapter 7 is a good option for you is to call or text (458)201-5745 and tell me about your situation.  The call is free and your first consultation with me is absolutely free.  

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Chapter 13

 

   Chapter 13 is like loan consolidation, but with the power of federal law.  It's the best remedy if you are behind several payments on your house or car or have tax debt, outstanding child support or other non-dischargeable debt.

   Above-median income filers may have no choice but to propose a Chapter 13 plan and you can file a Chapter 13 whether you are eligible for discharge or not.  Just like Chapter 7, Chapter 13 puts an immediate stop to collection activities including lawsuits, garnishments, foreclosures and repossessions.  Chapter 13 plans are either 3 years (for below-median income debtors) or 5 years (for above-median income debtors).  

 

   Eligibility:  To be eligible for discharge under Chapter 13 your secured debts (like a home mortgage or car loan) must be under $1,395,875 and your unsecured debts (credit cards, medical bills) must be less than $465,275 and you have not received a discharge under a Chapter 7 case filed within 4 years or a Chapter 13 case filed within 2 years.  Remember that if you filed a Chapter 13 previously, but did not get a discharge in that case, it does not affect your eligibility for discharge in a new case.

   Bankruptcy law is lengthy and complex.  The best way to determine whether Chapter 13 is a good option for you is to call or text (458)201-5745 for an absolutely free, no obligation bankruptcy consultation.  I can usually get some basic information about your case and give you a pretty good idea of what your Chapter 13 plan payment would be. I will also answer all of your questions about Chapter 13.  

 

   If you are otherwise eligible for Chapter 7, a Chapter 13 case can be converted to a case under Chapter 7 and, unlike Chapter 7, a Chapter 13 case remains completely voluntary after you file and you can voluntarily dismiss the case if you no longer desire to be in a Chapter 13 plan.
 

   We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.