Posts tagged "bankruptcy"

The Great Recession as Recorded by Your Credit Report

It has now been almost 7 years since the Lehman Brothers Bankruptcy in September of 2008.  Though the Great Recession officially began in December of 2007, it was this dramatic event that brought the economy to its knees.  Millions of Americans found themselves out of work, defaulting on debts and ending up in foreclosure, bankruptcy […]

Can I get rid of Private Student Loans in Bankruptcy?


News | by — October 29, 2013

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Can I ever eliminate Private Student Loans in a Bankruptcy? The short answer is that it is not likely, but you can, with the right facts.  In 2005 the U.S. bankruptcy laws were changed.  Among the many changes, private student loans were given protected status, making them generally non-dischargeable in a bankruptcy proceeding. It is […]

Reaffirmation Agreements in Bankruptcy


News | by — September 6, 2013

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First, the disclaimer: The article below is for informational purposes only. It is not designed, nor is it intended to offer specific legal advice or create an attorney-client relationship. If you want that, you’ve got to meet with us.     Reaffirmation in Bankruptcy If you file a bankruptcy, and owe money to a secured creditor, […]

Federal Exemptions now allowed in Oregon bankrupcies


News | by — July 2, 2013

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It’s official! On July 1, 2013, Governor Kitzhaber signed SB 396, allowing the use of federal exemptions in Oregon bankruptcy filings. For more information on the impact of this bill, refer to our previous blog. If you would like to schedule a free consultation to discuss bankruptcy options, contact us here.

Can a bankruptcy trustee take my tax refund?

You may have heard that your tax refund may be taken if you file a bankruptcy; however, with the right timing, you can utilize your tax refund, and still file a bankruptcy. Your tax refund is an asset Your tax refund is considered an asset in your bankruptcy. It is an asset, even if it […]

What does my credit score mean?

The range of possible credit scores is 330-830. Most individuals have credit scores between 600 and 750. A credit score over 700 is usually considered “good.” While a credit score below 625 is usually considered “bad.”   Who creates a credit score?  There are three credit reporting agencies. They are Experian, Transunion and Equifax.   […]

Are my student loans dischargeable in a bankruptcy?

Are my student loans dischargeable in a bankruptcy? Discharge of student loans is only allowed if the debt would impose undue hardship on the debtor.[i]  Under the statute, “undue hardship” is not defined. Multiple courts (including the Ninth Circuit) have adopted a three part analysis for whether or not the student loans create an undue […]

Median income changes may allow more Oregonians to file a Chapter 7.

The Department of Justice has increased median income levels a modest 3% beginning May 1, 2012, for Oregonians. While this increase is small, it may open the door for some Oregonians to file a Chapter 7 bankruptcy, who previously would not have qualified. For more information on how your median income level factors into a […]

Keeping your car in a bankruptcy


News | by — April 18, 2012

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If I file a bankruptcy, will I be able to keep my car? This is a very common question, and for good reason. We are largely a car-dependent society, relying on our automobiles for transportation to work, activities, and for errands. What is the automobile exemption? When you file a bankruptcy in Oregon, state exemptions […]

Are you eligible for a Chapter 7 Bankruptcy? IRS announces new median income levels.

Consumers looking to file a Chapter 7 bankruptcy may be aware that they must pass certain income requirements in order to qualify for the bankruptcy. But what are these requirements, and would you know whether you qualify? Means Testing With the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, congress […]