Even though bankruptcies are approved in federal court, the laws surrounding bankruptcy vary by state. Belongings that are exempt in Oregon, for instance, may not be exempt in Ohio or New York. Chapter 13 has also allowed for some flexibility or creativity to restructure consumer debt and make it more manageable. That could soon change, however.
Chapter 13 bankruptcy laws could soon be standardized
Bankruptcy filings can be dismissed for legal non-compliance
Filing for bankruptcy is a viable option for those in Lane County who are truly struggling with overwhelming debt. It is not a decision that should be made capriciously or used to discharge debt that you simply don’t want to pay. Failure to comply with federal and state bankruptcy laws can result in monetary fines. Your bankruptcy filing can also be denied altogether if you negligently or fraudulently apply for bankruptcy.
Negotiating key to reducing medical debt in Oregon
It doesn’t matter if you are an avid runner or a couch potato; anyone can fall ill unexpectedly or get injured in a car accident and require medical treatment. Even with health insurance, it can be easy to rack up thousands of dollars in medical expenses. Those without health insurance are often faced with overwhelming debt that can have a negative impact on your financial health.
Financial impact of marriage after individual bankruptcy
There are many different reasons that couples in Lane County, OR choose to get married—to celebrate love, to start a family and to enjoy financial benefits. That last one might not be very romantic, but it is very real. Married couples often qualify for a lower tax bracket, realize cost savings on insurance and can qualify for a larger home by purchasing it together. That being said, before you take out a loan together it is important to take the financial history of each person into account.
