Oregon Bankruptcy  

Of course, bankruptcy is your last resort. It is tough but provides a legal remedy for your financial situation.

Bankruptcy is a 3-step process:

1. You must first file in federal or state court saying you are “insolvent” – meaning you have no cash or assets (things you can sell) to pay your bills.

2. You have to arrange a repayment plan with creditors and the court.

3. You “discharge” – meaning settle your debts with creditors for usually a lower amount than the original bill. This gives the creditors some of their money back.

Pros and Cons:

Pros:

1. Legal protection from creditors
2. Takes care of most of your debt
3. You may get to keep your home
4. May stop financial ruin
5. Enables a fresh start

Cons:

1. Bad Credit
2. Still have to pay some debt
3. Have to go to court
4. May loose your assets
5. Loss of privacy (usually they print your bankruptcy in the paper)

What if I don’t file bankruptcy – what could happen?

Bad credit rating – making it hard to ever borrow again

Creditors may sell your property you put up as collateral – like your car or house

Lawsuit – and if you lose, you’d have all the legal costs from both sides plus your bills

Garnishment – your wages could be garnished up to 10% to pay creditors

Types of Bankruptcy

Chapter 7 – straight bankruptcy

This is when you sell everything and pay back creditors. You can keep your house, but must pay taxes, alimony, fines, and student loans.

Chapter 13

This allows you to keep your stuff, but the court appoints a trustee to help you with your wages and pay back your creditors usually within a 3 to 5 year window.

Hopefully, this information has helped your situation, but please, it is always smart and sometimes required by law, to consult with an attorney before filing.

About The Author

Stuart Simpson collects information and tries to find ways for people to stave off bankruptcy at http://www.bankruptcy-chapter7.com

Bankruptcy, Debt & Credit
Bankruptcy, Debt & Credit. The following links are designed to help answer some of your questions about unpaid bills and bankruptcy court. ... Oregon Bankruptcy Courts. http://www.orb.uscourts.gov/ Homepage of the United States Bankruptcy court for Oregon. Includes news, contact information, rules, forms, and fee ...


District of Oregon
... United States Bankruptcy Court. District of Oregon ... post 10/17/05 updates, re: Implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (2005 ...


Oregon Bankruptcy Attorneys Oliveros & O'brien, P.C. Chapter 7, 11, and 13
Oregon Bankruptcy Attorneys Oliveros & O'Brien, P.C. A full service law firm specializing in Chapter 7, 11, and 13 bankruptcy in Oregon. ... Are you considering filing bankruptcy in Oregon for yourself or your business and want to research a ...


Oregon bankruptcy advice from Legal Helpers
Excellent Oregon bankruptcy protection at affordable rates from Legal Helpers. ... To file for an Oregon bankruptcy you need the experienced afforded by the nationally renowned bankruptcy ... of Legal Helpers. Our Oregon bankruptcy lawyers handle only Chapter 7 and ...


Bankruptcy Court Districts In Oregon
... UNITED STATES BANKRUPTCY COURTS. State Of Oregon ... Local. OREGON BANKRUPTCY. 800 610-9315 ...


Oregon Bankruptcy Judge
United States Courts for the Ninth Circuit. Media Release. United States Courts for the Ninth Circuit. November 26, 2001. Oregon Bankruptcy Judge. Albert E. Radcliffe Reappointed. SAN FRANCISCO — Chief Judge Mary M. ... Radcliffe to the United States Bankruptcy Court for the District of Oregon, effective Feb ...


Law Firms in Oregon - Bankruptcy
Law Firms in Oregon - Bankruptcy: Find Law Firms in Oregon by Location and Area of Practice ... Law Firms in Oregon - Bankruptcy. Add your Law Firm ... Northwest Territory Nova Scotia Ohio Oklahoma Ontario Oregon Pennsylvania Prince Edward Island Puerto Rico Quebec Rhode ...


ORB Documents (Main)
... ** Updated 10/11/05. * Oregon U.S. BANKRUPTCY Court Local Rules (LBR) ** Oregon U.S. BANKRUPTCY Court General Orders (G.O ...

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