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Chapter 13 Archives

Who qualifies for a Chapter 13 bankruptcy?

When you are not interested in liquidating your assets, but your income does not cover your expenses, it may make sense for you to look at your legal options to get you out from under the financial strain. According to the Oregon State Bar, you may be eligible to file a Chapter 13 bankruptcy if you meet certain qualifications.

Can you change or modify your bankruptcy?

We have pointed out numerous times in this blog the factors that are used in determining eligibility for a Chapter 13 bankruptcy. To recap, Chapter 13 is known as the “repayment bankruptcy,” which may allow you to protect certain assets while repaying most or all of your debt in a manageable way. To qualify for Chapter 13, you need to meet certain income requirements. An ability to make regular payments is essential for Eugene residents to qualify for this type of bankruptcy. However, what if your situation changes and you are no longer able to make your payments as outlined in your bankruptcy agreement?

Hardship discharge might help those in dire situations

As discussed in previous posts, Chapter 13 bankruptcy may give you and other Eugene residents a chance to pay back most or all of your debt in a way that is manageable. The three- to five-year repayment plan that is approved by the bankruptcy court is designed to be affordable for those under Chapter 13, based on the ability to pay. However, at The Law Office of Kim Covington, we understand that life is not always reliable, and you might find yourself in a situation where it is no longer possible to make your Chapter 13 payments.

How do you file for bankruptcy if you are self-employed?

If you are your own boss, you already know that keeping track of your income and expenses is much different – and often more challenging – than when you work for an employer in Eugene. You may find yourself facing financial struggles and trying to decide if it is time to file for bankruptcy. If bankruptcy is the eventual outcome, it will be crucial to provide accurate details about how much you earn, as well as how much you spend, to the bankruptcy court. Failing to provide accurate information may delay your case or cause it to be rejected.

Can some of my debt be discharged in a Chapter 13 bankruptcy?

If you have read through some of the previous posts in this blog, you will likely have a basic understanding of the two main types of personal bankruptcy. Chapter 7 allows for a complete discharge of most debts, although you might lose some assets. Chapter 13 allows you to repay your debt through a manageable repayment plan, and you have a better chance of keeping your home and vehicles. However, you and other Eugene residents may wonder if you can get rid of some of your debt in a Chapter 13 bankruptcy without having to repay it.

Chapter 13 bankruptcy may be an option for small businesses

Throughout the posts in this blog, we have discussed the differences between Chapter 7 and Chapter 13 bankruptcy, as they apply to people in Eugene and elsewhere. These types of bankruptcy are known as personal bankruptcies, which are filed by people for their own personal debt. However, if you are a small business owner who is experiencing debt problems related to your personal life or business, or both, you might consider filing for Chapter 13. At The Law Office of Kim Covington, we are prepared to answer the questions small business owners may have when it comes to reducing overwhelming debt and saving their company.

Peak Hosting’s situation shows benefits of corporate bankruptcy

Lane County residents who are experiencing financial difficulties may find relief by filing for Chapter 7 or Chapter 13 bankruptcy. Company owners can also take advantage of the protections and benefits that bankruptcy provides if they are going through a difficult time.

How will a Chapter 13 affect your home and mortgage loan?

When struggling with debt in Oregon, many people shy away from seeking bankruptcy protection in fear that it will cost them their property, including their homes. However, filing for Chapter 13 itself does not put your home in jeopardy. In fact, it might help you to protect and keep your home through your bankruptcy case.

How does chapter 13 bankruptcy work?

If you are like others in Oregon who are struggling with overwhelming debt, then you might have considered filing for bankruptcy. Through a chapter 13 filing, you may be able to regain control of your finances without liquidating your assets. However, at The Law Office of Kim Covington, we know that the chapter 13 bankruptcy process may be confusing for some. In this post, we will discuss how chapter 13 bankruptcy works.

Requirements for filing bankruptcy in Oregon

Just like in other states, Oregon lawmakers have set up specific requirements that must apply to filers before they can be granted any relief by the courts. These rules and procedures are in place to ensure that fraud remains low and that the courts are not overburdened by people needlessly filing for bankruptcy when other remedies may suit their situations more fully. At The Law Office of Kim Covington, our staff recommend that our clients learn these requirements before they decide whether or not to pursue filing their bankruptcy.

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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