On behalf of The Law Office of Kim Covington | Oct 17, 2019 | Chapter 7 Bankruptcy
Oregon residents who are in debt may wonder when is the right time for them to file for bankruptcy. They might have $20,000 or $30,000 in credit card debt or a car loan for a few thousand dollars.First, the individual may want to consider their income and asset level....
On behalf of The Law Office of Kim Covington | Oct 1, 2019 | Chapter 7 Bankruptcy
Any number of personal setbacks could cause student loan borrowers in Oregon to fall behind on their payments. Although people largely believe that student loans cannot be discharged by a bankruptcy action, cases of undue hardship might convince a judge to provide a...
On behalf of The Law Office of Kim Covington | Jun 24, 2019 | Chapter 7 Bankruptcy
Some Oregon consumers who file for bankruptcy may be carrying significant student loan debt. The company LendEDU found that nearly one-third of people who filed for Chapter 7 bankruptcy had student loan debt, and on average, almost half of their total debt was student...
On behalf of The Law Office of Kim Covington | May 14, 2019 | Chapter 7 Bankruptcy
People in Oregon who are struggling with student debt might have the opportunity to discharge that debt in bankruptcy if a bill introduced in Congress is successful. The Student Borrower Bankruptcy Relief Act of 2019 has the support of one Independent, one Republican...
On behalf of The Law Office of Kim Covington | Jan 22, 2019 | Chapter 7 Bankruptcy
For many people in Oregon struggling with insurmountable debt, student loans may comprise a significant portion of the overall burden. Across the country, over 44 million people collectively owe $1.5 trillion in student loan debt, forming the second-highest category...
On behalf of The Law Office of Kim Covington | Nov 14, 2018 | Chapter 7 Bankruptcy
Many consumers who are struggling with debt in Oregon believe that filing for bankruptcy would make their problems even worse. This is not necessarily true for those with a lot of unsecured debt since many people who file for bankruptcy find that their credit scores...
On behalf of The Law Office of Kim Covington | Aug 20, 2018 | Chapter 7 Bankruptcy
The number of personal bankruptcy filings declined by 1.8 percent in 2017. However, financial professionals say that Oregon residents and others who want to file for bankruptcy should spend time thinking through the entire process. This means considering what happens...
On behalf of The Law Office of Kim Covington | Jul 24, 2018 | Chapter 7 Bankruptcy
In April, Oregon congressman Peter DeFazio introduced an act that would make it less difficult for people to discharge student loans in bankruptcy. These types of loans are presently not dischargeable in most cases although in a few cases, people have successfully...
On behalf of The Law Office of Kim Covington | Jul 9, 2018 | Chapter 7 Bankruptcy
Many people in Oregon struggle to repay their student loan debts. Unlike other types of unsecured debts, such as credit card balances or medical bills, student loans are normally not dischargeable in bankruptcy. However, student loans may be dischargeable in some...
On behalf of The Law Office of Kim Covington | May 11, 2018 | Chapter 7 Bankruptcy
Carrying substantial amounts of debt can be a burden for many individuals in Oregon and elsewhere, regardless of age. However, those who are saddled with debt upon entering retirement may face additional challenges that often come with living on a fixed income. Since...
