Filing for Chapter 13 bankruptcy provides a structured approach to managing your car loan while allowing you to retain possession of the vehicle. If you're delinquent on payments or owe more than the car’s current market value, Chapter 13 may offer relief through...
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Chapter 13 Bankruptcy
How does Chapter 13 bankruptcy affect credit card debt repayment?
Filing for Chapter 13 bankruptcy in Oregon can help you manage overwhelming credit card debt while keeping your assets. Unlike Chapter 7, which eliminates debt, Chapter 13 restructures it into a repayment plan. This allows you to pay off a portion of your debt over...
What is the ‘cramdown’ provision in Chapter 13?
Chapter 13 bankruptcy allows you to restructure debts into a manageable repayment plan. One powerful tool within this process is the cramdown provision. This provision can help you reduce the amount you owe on certain secured debts, such as car loans and investment...
Can Chapter 13 bankruptcy help with student loan debt?
Student loan debt creates financial stress for many borrowers. While Chapter 13 bankruptcy offers a way to restructure debts, student loans are more difficult to discharge than other types of debt. However, Chapter 13 can provide ways to manage payments and protect...
What are the benefits of Chapter 13 over debt consolidation loans?
When faced with overwhelming debt, many people consider debt consolidation loans to simplify payments. However, Chapter 13 bankruptcy offers unique advantages that can provide better long-term financial relief. Understanding the differences helps individuals make...
What is the long-term financial impact of Chapter 13 bankruptcy?
Completing a Chapter 13 bankruptcy repayment plan can be a fresh start for many individuals, but it also comes with some long-term financial effects. Understanding these impacts can help individuals navigate their financial future after bankruptcy. Credit score...
Understanding the debt limit for Chapter 13 in Oregon
Chapter 13 bankruptcy allows individuals to restructure their debts and create a repayment plan. Unlike Chapter 7, which involves liquidating assets, Chapter 13 focuses on helping people keep their property while making affordable payments. However, to qualify for...
How Chapter 13 bankruptcy can help you overcome medical debt
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...
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...
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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.