Facing bankruptcy can be a challenging and overwhelming experience, but it is not the end of your financial journey. Rebuilding your credit after bankruptcy requires dedication, discipline and a strategic approach. Learn about your credit report In 2023, 433,658...
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Bankruptcy
Why you shouldn’t feel guilty about filing for bankruptcy
For years, bankruptcy carried a significant stigma. It still does in many sectors of society. Yet, if you are in a position where you cannot meet your payments, feeling guilty won’t help. What’s more, it could do you a lot of harm. People often underestimate the...
Preparing to file for personal bankruptcy
According to Statista, 922 Oregon residents filed for bankruptcy in 2021. Filing for personal bankruptcy is a significant decision that requires careful preparation and understanding. It is a legal process that allows you to address unmanageable debts, but it involves...
How does bankruptcy affect your income taxes?
Filing for bankruptcy can often provide relief from overwhelming debt. However, depending on your circumstances, it may impact your tax liability and refund check. Knowing what to expect come tax time can help you be better prepared. Not filing is not an option You...
What happens if you have a deficiency balance on a repossession?
Finances are tough for a lot of people these days, and life can take sudden turns that can leave you without the ability to pay your bills, including your car loan. If you've recently had your vehicle repossessed, it’s hard not to feel like the worst has already...
Paycheck-to-paycheck living may lead to bankruptcy
Living paycheck to paycheck is a financial reality for many people. According to PYMNTS, a company that monitors digital payment method trends and other financial matters, 63 percent of U.S. consumers lived this way in November 2022. While it's a situation many find...
How do you pay for bankruptcy?
Inflation, job losses and high rents have left a lot of people feeling the pinch on their wallets – and bankruptcies are once again becoming commonplace. According to the Administrative Office of the U.S. Courts, total consumer bankruptcy filings were up more than...
What impact does bankruptcy have on someone’s credit score?
What people know about bankruptcy can often deter them from filing for debt relief. For example, a surprising number of people avoid bankruptcy because they have heard that it will drag down their credit score and leave them ineligible for the credit that they need...
Why do people delay bankruptcy?
Earning enough to live in the modern-day United States is not easy. This is even more true if you have a family to feed or incur sudden unexpected expenses due to an accident, illness or natural disaster. Even if you have cover for such events, it can take a long...
What to know about Chapter 7 and Chapter 13 bankruptcy
Many people struggle with crippling debt brought on by unforeseen medical expenses, mishaps, late fees, unemployment, and interest. After building up unmanageable debt, people frequently look for fast fixes to their problems. One option for many people is to declare...
Learn More About Your Fresh Financial Start
The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.