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Chapter 7 Archives

Can my trust be liquidated in a Chapter 7 bankruptcy?

If you have a trust which provides you with regular income, you may worry that declaring bankruptcy in Oregon would allow your creditors to seize the assets of the trust in order to pay your debts. According to BankRate.com, that may be true, depending on the type of trust you have.

Will I lose the equity in my home if I file Chapter 7 bankruptcy?

Many people consider purchasing an Oregon home to be an investment. Even when overwhelming debt is straining your finances to the breaking point, you may be hesitating to seek relief because of your house. If you have equity in your home, you may worry that declaring bankruptcy could strip you of all the money you have put into it. The Oregon State Bar explains that the answer to your dilemma is not cut and dried.

Can a debt collection company garnish my bank account?

While struggling to pay bills in Oregon can be stressful, you may be wondering what could happen to you if you are unable to pay a debt at all. While creditors do have some legal recourse for collecting the money you owe them, there are also federal and state laws that protect your rights.

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.

Stress: The link between debt and poor health

Regardless of the amount of income, debt can be a major problem for those who live in Oregon. The increasingly higher costs of housing and difficulties paying off medical bills and credit card debt are overwhelming for many people. According to the American Psychological Association, annual polls consistently reveal that more than half of Americans are stressed out over money. The problem may be worse for younger adults, and for those who have children under 18 years old.

What does chapter 7 bankruptcy mean for entrepreneurs?

If you own a struggling business in Oregon, you may associate bankruptcy with the end of the line for your entrepreneurial spirit. However, sometimes getting out from under impossible financial circumstances through a chapter 7 bankruptcy may free you to go on to better things. According to Nerd Wallet, that approach has worked for more than one small business owner who fell victim to situations beyond their control.

How do you find a good pre-bankruptcy credit counseling course?

Once you have determined that you cannot get out from under your mountain of debt by making monthly payments, you may be looking forward to the relief of bankruptcy to restore your financial equilibrium. Chapter 7 bankruptcy in Oregon is a process, though, and one of the first steps you must take, before you file, is the completion of a credit counseling course.

Adoption agency files for Chapter 7

From unanticipated medical problems to declining sales, businesses may find it necessary to file for bankruptcy for many reasons. In Eugene, and other cities across the state of Oregon, deciding to file for bankruptcy can be an incredibly difficult decision. However, it can help businesses recover from the financial stressors they are facing and restore a sense of normalcy. For those considering filing for bankruptcy, different options may be on the table. Sometimes, Chapter 7 is the most effective course of action.

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