Oregon consumers who are considering filing for Chapter 13 bankruptcy might wonder what is involved in the repayment process. To file for Chapter 13 bankruptcy, it is necessary to go through the means test, which is income-based, and may have assets they want to keep. This might include the house. A Chapter 13 bankruptcy involves paying off debts over three or five years. Working with an attorney, the debtor creates a repayment plan that is then submitted to the bankruptcy trustee for approval. Many unsecured debts that remain at the end of the repayment period are discharged except for those that are not eligible. Among these are child support payments.
Consumers in Oregon and across the U.S. are increasing their use of credit cards, according to a new report by CompareCards.com. In fact, the website found that Portland residents have the 10th highest credit card balance average in the country.
Through the holidays, you probably didn’t think much about money as you tried to make the season merry for your kids. It’s the struggle every parent faces each year, regardless of how many or few presents they buy. We just want our kids to be happy. However, the day that first credit card statement comes in can still hit hard.
When you have serious debt, you may feel like you will never get ahead. Even if you pay the bare minimum on all your bills, you can still fall behind. When that happens, your creditors may resort to extreme measures to get their money.