On behalf of The Law Office of Kim Covington | Nov 11, 2019 | Chapter 13 Bankruptcy
People in Oregon who are 55 and older may be more likely to file for bankruptcy than they would have been 30 years ago. Between 1991 and 2016, the percentage of people in the 55 to 64 age group who declared bankruptcy went up 66%. For those 65 to 74, it has increased...
On behalf of The Law Office of Kim Covington | Aug 20, 2019 | Chapter 13 Bankruptcy
Oregon residents who find themselves overwhelmed with debt can seek relief by filing for Chapter 7 or a Chapter 13 bankruptcy. A Chapter 7 bankruptcy wipes out most debts and offers the chance of a fresh start. Those who file for Chapter 13 bankruptcy pay down some or...
On behalf of The Law Office of Kim Covington | Aug 8, 2019 | Chapter 13 Bankruptcy
It can be difficult to get finances back on track when debts are piling up. Oregon consumers have options to reduce or eliminate debts, including negotiating with creditors or filing for bankruptcy under Chapter 7 or Chapter 13 of the Bankruptcy Code. The type of...
On behalf of The Law Office of Kim Covington | May 1, 2019 | Chapter 13 Bankruptcy
Lots of Oregon residents are struggling with debts they are unable to repay. While personal bankruptcy may provide an option for debt relief, many are wary of taking the hit to their credit reports that come with the option. However, these debtors may still begin to...
On behalf of The Law Office of Kim Covington | Apr 18, 2019 | Chapter 13 Bankruptcy
Collection agencies sometimes cross the line into harassment when they contact debtors in Oregon. Abusive language, threats or excessive telephone calls and texts can add significantly to the stress of people who have fallen behind on payments. The Fair Debt...
On behalf of The Law Office of Kim Covington | Jan 9, 2019 | Chapter 13 Bankruptcy
In Oregon and throughout the country, older Americans are filing for bankruptcy at a higher rate than their younger counterparts. Part of the reason is that government benefit programs such as Social Security are replacing a lower portion of a worker’s income...
On behalf of The Law Office of Kim Covington | Dec 27, 2018 | Chapter 13 Bankruptcy
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....
On behalf of The Law Office of Kim Covington | Oct 31, 2018 | Chapter 13 Bankruptcy
Oregon residents and others may be aware of the wage gap. However, they may not know that there is also a debt gap between men and women. On average, women have higher student loan, auto loan and credit card balances compared to men. Those who are trying to get out of...
On behalf of The Law Office of Kim Covington | Sep 19, 2018 | Chapter 13 Bankruptcy
Some Oregon consumers might be struggling with debt but may hesitate to file for bankruptcy. Many people may feel it is more honorable to pay debts and that filing for bankruptcy will stigmatize them. However, bankruptcy is a tool that is intended to offer people a...
On behalf of The Law Office of Kim Covington | Jun 25, 2018 | Chapter 13 Bankruptcy
Oregon residents may not file for bankruptcy because of the stigma surrounding it. However, it may be harder to truly get a fresh start after filing for those who wait too long to file. As a general rule, anyone who has a debt-to-income ratio of more than 40 percent...
