In Oregon, wage garnishment, or having a piece of one’s paycheck given directly to a creditor, has several iterations. Private creditors (credit card collectors, unpaid landlords, etc.) require a court judgment against the debtor to garnish wages, while other garnishment can happen without going to court. Unpaid child support, income taxes and student loans do not require a judgment to be garnished.
Asset Forfeiture Archives
Transportation in Oregon is a necessity, but if you had to buy your car with less than optimal financing, even if you have been making your payments on time, you could find yourself in serious trouble. Sometimes, in order to get a customer into a new car, the dealership’s finance department may offer a loan that extends over several years, and after three or four years of payments, this has the potential to leave you owing much more than the vehicle is worth. At The Law Office of Kim Covington, our team frequently assists people who want to know what their options are for dealing with a negative equity vehicle loan.
Like most Eugene residents, you probably rely on your car to get to work, go grocery shopping and otherwise get around. If you are forced to be without your vehicle, getting anywhere may be unfeasible without causing further hardship. Unfortunately, your vehicle and other assets may be seized to repay creditors during a Chapter 7 bankruptcy. Is there any way you can hold onto your personal means of transportation during what is already a difficult time?
There are numerous opportunities for Eugene residents to get loans, even if they are recovering from a personal bankruptcy. It can be a good thing to have a line of credit, as long as you manage it carefully. Being responsible with debt can help raise your credit score and give you more opportunities for major loans in the future, such as an auto or home loan.
If you are dealing with financial issues in Oregon, you may have considered filing for Chapter 7 bankruptcy. According to the Internal Revenue Service, this is a debt relief option that is meant to aid those who cannot pay down their debts through regular monthly payments. In order to receive this type of protection, however, you may be required to liquidate certain assets.
If you are dealing with serious financial issues, such as unemployment or past due bills, you may be worried that your income could be garnished to pay off your creditors. This is a challenging situation for anyone, but for retired Eugene residents on a fixed income, garnishment can cause a particular hardship. Is it possible that your retirement benefits might be garnished if you are seriously behind on your bills?
The Oregon housing market is currently booming, but some people are still feeling the effects of the recent recession. Many struggling families are currently facing foreclosure. When this occurs, they usually walk away from the property they are no longer able to afford and expect the bank to move forward with selling the home as they usually state they will do. However, this is not always the case, and homeowners are the ones paying the price.
When facing financial difficulties, it is common for people to wonder what kind of protections they may have against impending foreclosures. Foreclosure is a type of asset repossession that applies specifically to homes. At The Law Office of Kim Covington, our attorneys are often asked how they can help stop the foreclosure process so our clients can keep their homes while they work through and pay their debts.
When debtors take possession of items without having paid for the items in full, they may be in danger of having those things repossessed. According to the Federal Trade Commission, the company’s ability to repossess the items in question largely depends on whether or not a signed contract exists and the provisions that are contained therein. For example, a contract may state that a man is required to make all payuments on time, and if he fails to do so, he may be subject to repossession.
Wage garnishment is a device that the courts use in Oregon to ensure that a debtor repays a debt within a reasonable amount of time. In order to set up a wage garnishment, a creditor must usually first ask the court to intervene and determine that the debt is valid. Following a court order, the creditor creates a garnishment with the debtor’s employer. This requires the debtor’s employer to take a specifically allotted amount of money out of each of the worker’s paychecks in order to directly pay the creditor.