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May 2017 Archives

Do I have to reaffirm my mortgage?

After you declare bankruptcy in Oregon, you still have to have a place to live, and the costs of moving may be considerable, particularly with the soaring rent prices and lack of rental homes available in many portions of the state. That does not necessarily mean you want to remain tied to your mortgage and your home forever, though. With some time to put money back after your debts are discharged, you may be looking forward to finding a new place that suits your needs better.

Chapter 13 bankruptcy: benefits and basics

A person in Oregon who has fallen behind on payments or is struggling to meet all financial obligations may find a solution through a Chapter 13 bankruptcy. According to the Cornell University Law School’s Legal Information Institute, this type of bankruptcy typically allows people to keep their homes, and even some of the equity they have accumulated. Individual retirement accounts are also generally safe, and cars. Keeping these three major assets in place while paying off some debts and having others discharged make this reorganization plan appealing to many.

When should you consider debt consolidation?

Credit cards are an important part of financial health in Oregon and throughout the country, and if you use yours at all, that debt does not necessarily have anything to do with the state of your budget. If your situation is keeping you up at night, though, you may want to think about ways to reduce the amount of your income that is going toward your montly payments.

Buying a home after bankruptcy

If you have recently filed Chapter 7 bankruptcy, you may feel as if renting a home in Oregon is your only option for the foreseeable future, even though eliminating your debt has put you in good financial shape again. However, you do not necessarily need to wait until the bankruptcy disappears from your credit report before a lender will consider you. At The Law Office of Kim Covington, our team has advised many people who are ready to get back on their feet after bankruptcy.

CFPB complaints indicate Oregon medical debt harassment

Medical debt is a common problem for people in Oregon, and you may be one of many that has to budget a chunk of your income toward a monthly payment for services over and above what you pay for health insurance coverage. Even if you are working to pay off a bill, you could be the subject of illegal creditor harassment. We at The Law Office of Kim Covington often provide advice and support for those who are struggling with the financial aftereffects of seeking medical attention.

How far can a creditor can go to repossess my car?

If you have fallen behind on bills and plan to file for Chapter 7 bankruptcy, you may still be planning to keep your vehicle under the Oregon motor vehicle exemption. However, a creditor may have other plans. Before the car is repossessed, here are some things to know, according to the Federal Trade Commission.

Office Locations

The Law Office of Kim Covington

Eugene Office
1445 Willamette Street, Suite 9
Eugene, OR 97401

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Albany Office
1135 Dale Street SE, Suite #B
Albany, OR 97321

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Roseburg Office
1701 West Harvard, Suite 201
Roseburg, OR 97470

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Phone: 541-393-2790
Toll Free: 800-673-1891
Fax: 541-344-6466
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