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State House candidate moves on after Chapter 7

Many residents in Oregon suffered greatly in the recent housing downturn and economic recession. The break in the housing boom, unemployment and other factors led many people in the state to seek help for their financial challenges. Some people were able to find the debt relief they needed through consolidation plans and others opted to take advantage of the protection provided under either a Chapter 13 or a Chapter 7 bankruptcy.

A current candidate for the State House of Representative and her husband are among the people that chose a Chapter 7 when they were struggling with both debt and unemployment. Until 2007, the couple had been living in Arizona where they owned and operated a limousine service. The business declined along with the local economy and the family initiated a move to Oregon when her husband landed a job there. However, a layoff from that job after a short time only exacerbated circumstances and the overwhelming debt continued to mount.

The two homes owned by the couple in Arizona were sold in short sales, leaving residual debts owed to the banks. In addition to the mortgages, the pair owed approximately $30,000 in consumer debt, roughly the same amount to a line of credit and other funds to a car company in relation to an automotive repossession. The Chapter 7 allowed for the family to get a fresh financial start and has become part of the candidate’s campaign as she asserts that she understands what many people in the state have faced.

When mortgage modification or other attempts to stop creditor harassment are not sufficient, you may also wish to consider bankruptcy to help with severe debt. Talking to an attorney about the options can be a very helpful thing to do.

Source:, “GOP candidate Jodi Bailey says 2009 bankruptcy taught her lessons for Oregon House campaign,” Yuxing Zheng, March 23, 2014

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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.

The Law Office of Kim Covington

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