Personal & Small Business Bankruptcy in Oregon
I
have more than 25 years’ experience in representing individuals,
couples and small businesses in obtaining relief from debt burdens
in Chapter 7, 11 and 13 cases, including over 10 years
serving Clatsop and Tillamook County clients with their Bankruptcy in Oregon.
My focus now is on consumer and small-business debtors, and my practice is limited to helping people who are facing debt burdens they cannot overcome on their own.
I offer low-cost assistance & sliding-scale fees and occasionally accept payment plans. Read more about our Bankruptcy costs and fees.
Bankruptcy Basics
Bankruptcy has been offered as a “fresh start” since 1898, and is recognized as a legitimate tool to people facing overwhelming debt through no fault of their own.
A bankruptcy case is filed under Title 11 of the U.S. Code, either under Chapter 7, 9, 11, 12 or 13. The person filing may be an individual, couple, or business, and businesses may file if operating as a sole proprietor, partnership, corporation or LLC, although there are restrictions on the type of case non-individuals may file, and debt limits in certain cases.
You must file with the court a list of all of your debts and all of your assets, as well as information about your past and present income and monthly expenses. You must also complete a credit counseling course before filing and debt management course afterwards.
Types of Bankruptcy Cases
Chapter 7 - Liquidation
Most individuals and couples will qualify for Chapter 7 relief. Unless your income is too great, you have assets that are not exempt, or you have certain types of debts that are not dischargeable, this type of case is appropriate. It is called “liquidation” only because the law requires assets to be sold if not exempt, and the money distributed to your creditors. “Exempt” assets include vehicles, household goods, tools of the trade, and homes with a limited amount of equity. Read more about Chapter 7
Chapter 13 - ‘Wage Earner’s Plan’
For debtors whose homes are in foreclosure or who owe certain debts not subject to a Chapter 7 discharge, and who have regular income, will file this type of case. They submit a Plan to the court for approval, where they pay back a certain portion of their debt. The Plan will last for 3 to 5 years. You will keep all of your property and will generally pay only the debt which you could not discharge is a Ch 7 case. Read more about Chapter 13
Chapter 11 - Reorganization
Read more about Chapter 11
Chapter 12 - Family Farmers or Fishermen
Read more about Chapter 12