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October 2016 Archives

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.

What happens if I marry someone with bad credit?

Getting married is one of the biggest life changes you will experience. After marriage, you will share many aspects of your life going forward, including the financial ones. Like some Eugene residents, you might wonder how your future spouse's credit rating will affect you. If he or she has bad credit, will it bring you down? Or will your own credit be improved after you marry someone with better credit than you?

What is the debt statute of limitations in Oregon?

Previous posts in this blog have discussed what may happen if you fail to pay your credit card debt. If you simply ignore the debt, it will not go away anytime soon, and is likely to be taken to collections. Your credit, in turn, will suffer. You might have heard advice from well-meaning family and friends that if you can manage to put off the debt on a credit card long enough, the debt will pass the statute of limitations and you will no longer owe the creditor. This is technically true, but you will need to understand how the statute of limitations applies to debtors in Oregon, as well as the potential consequences of putting off debt for so long.

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