Medical debt can strike quickly and suddenly become overwhelming. Unexpected medical expenses can pile up, leaving you struggling to keep up with payments. If you are facing significant medical debt, Chapter 13 bankruptcy offers a solution that can provide relief and...
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Chapter 13 Bankruptcy
Does Chapter 13 take all disposable income?
Many people worry about how much of their income they'll need to give up to pay off their debts in a Chapter 13 process. What may happen to your disposable income if you undergo a Chapter 13 bankruptcy in Oregon? Understanding disposable income in Chapter 13 In a...
Should you try to pay your Chapter 13 plan early?
Though bankruptcy often carries a stigma, the process helps people regain their financial footing after suffering from mounting debt. Still, even if you decide Chapter 13 bankruptcy is right for you, you might feel tempted to try to complete the repayment plan ahead...
Can Chapter 13 bankruptcy stop foreclosure?
Falling behind on bills and struggling with debt could lead to a situation where a homeowner faces foreclosure. Fortunately, Chapter 13 bankruptcy offers a potential lifeline for those looking to avoid losing their homes. This legal option has a couple of important...
What are the benefits of Chapter 13 bankruptcy?
Even when you have a healthy, steady source of income, it’s still possible to end up with overwhelming debts that you can’t afford to pay. While a Chapter 7 bankruptcy offers a faster resolution for your financial problems, not everybody qualifies for Chapter 7 – and...
Why choose Chapter 13 if you still have to pay your debt?
If you have unaffordable debt and you file for Chapter 7 bankruptcy, your debt is eliminated. This is what most people think all bankruptcy cases look like, although that is a myth. You also may be able to use Chapter 13, for example. With Chapter 13, your debt is not...
How long does it take for a discharge in Chapter 13 bankruptcy?
People often file for personal bankruptcy because they are desperately in need of a reprieve from aggressive collection activity. They may dread answering the phone or worry that every knock at the door is a process server. They could also already face a pending...
Can you file bankruptcy if you have an income?
Many people who have no income but a lot of debt will decide to use bankruptcy to get rid of their debt. This is known as Chapter 7 bankruptcy, and it simply liquidates non-exempt assets. But say that you still have a fairly good income, but it's just not enough for...
What situations may require me to change my bankruptcy plan?
You probably hope that filing for Chapter 13 bankruptcy is the first step on your journey to fiscal solvency. Like any journey, there are bound to have turns along the way, and your repayment plan will probably not be an exception. Even after you have come up with...
How do Chapter 7 and Chapter 13 bankruptcies differ?
Many Oregon residents are facing increasingly overwhelming debt. Sometimes, the debt compiles as a result of major medical bills. Other times, it is the result of unemployment or an unforeseen emergency. Regardless of how you accumulate debt, you may be able to find...
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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.