Are you choking in debt and unsure what to do next? Are creditors giving you sleepless nights? Has a significant life event taken a toll on your finances? If your answer is yes to these questions, then it might be time to consider declaring bankruptcy. While...
Chapter 7 Bankruptcy
How does a Chapter 7 bankruptcy impact children?
Filing for bankruptcy can be scary when you have a family to support. While on one hand you do need to resolve your debts and get back on track, you also want to be sure that your children have everything they need. Particularly with Chapter 7 bankruptcy, a...
What to know before working with a debt settlement program
Many people across Oregon are struggling to stay atop of their finances. This is often the result of unanticipated medical expenses or mounting credit card debt. If you count yourself among those struggling to keep up, you may be looking for ways to regain control and...
How the bankruptcy means test determines Chapter 7 eligibility
When you accrue so much debt in Oregon that you have no realistic way of paying back what you owe, you may start looking into bankruptcy and considering whether it might help improve your situation. Consumer bankruptcies come in two types: Chapter 7 and Chapter 13...
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...
What should I know about filing bankruptcy?
Making the decision to file bankruptcy is something you must do with care. It will have an impact on your future, so you want to be sure it is exactly what you need to do. With that in mind, it is a good idea to learn as much as possible about the process before...
How should I limit my spending before filing for Chapter 7?
Your debt burden may feel dire enough that filing for Chapter 7 bankruptcy maybe your best option to clear your debt and make a fresh financial start. But to qualify for bankruptcy, you want to make sure you do not do anything to endanger the approval of your...
Caring for a loved one may result in unmanageable debts
Individuals may feel overwhelmed while acting as a full-time caregiver for a spouse, child or aging relative. When a serious illness requires round-the-clock care, some caretakers quit their jobs or reduce their hours. An individual may also sell off his or her assets...
What you should know about a reaffirmation agreement
The flexibility of bankruptcy, even Chapter 7 bankruptcy, can help you keep certain assets while discharging burdensome debt. A reaffirmation agreement is one example. You may fear you will lose a car that has an outstanding loan balance. However, if you sign a...
What can you lose in bankruptcy?
After a recent health scare, you now have an unexpected medical debt to add to your student loan debt, both of which push your finances to the brink. If you file for bankruptcy, what do you stand to lose? Bankrate explores what creditors may take to offset your debt....
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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 23 years.