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Bishop Bankruptcy Law is committed to help people filing Bankruptcy in Oregon.  Before filing it is important to know what you can protect in a bankruptcy and what you will lose.  Contact us to find out if this is the right choice for you.

Bankruptcy Overview:

We file Chapter 7 and Chapter 13 Bankruptcy petitions for Oregon Residents. Chapter 7 is the individual liquidation form of bankruptcy.  Chapter 13 is the form of bankruptcy that allows an individual to reorganize their debt.  During our free initial consultation we will explore which type of bankruptcy is right for you and whether you qualify.  Bankruptcy is a federal law whose application is effected by the laws of the State in which you reside. Filing bankruptcy in Oregon bankruptcy may involve different rules than a bankruptcy filing in another State.  Please contact an attorney or Bankruptcy Court in your State to determine which rules apply.

Filing Bankruptcy in Oregon-Chapter 7 :

Chapter 7 bankruptcy is the most familiar type personal bankruptcy and is the most common form for someone filing bankruptcy in Oregon.  To file Chapter 7 bankruptcy, you must submit a petition with the court.  This petition will list all of your debts and all of your assets.  Almost all garnishments stop immediately after filing and creditors can no longer collect from you.  Hopefully all of your assets are protected by exemptions, and all of your debt is dischargeable.  Unfortunately certain debts are not forgiven in a bankruptcy and some assets can’t be protected.  At the conclusion of your case, usually less than 120 days after you file, you receive a your discharge and the process is complete.  If you are considered to be an asset case, than the case will continue.

Filing Bankruptcy in Oregon-Chapter 13:

Chapter 13 bankruptcy requires you to make a plan with the court to pay a certain amount of money back to your creditors.  You must make a monthly payment, equal to your monthly disposal income,  to a Trustee for a period of 36 to 60 months.  For most people filing bankruptcy in Oregon, this adds an element of uncertainty to the filing.  After completing your plan, any remaining eligible debts will be discharged.  This type of bankruptcy requires more planning and commitment than a chapter 7 bankruptcy.  A chapter 13 bankruptcy is usually recommended when you are not eligible for a chapter 7  or it will give you a clear advantage such as cramming down a vehicle, stripping a second mortgage, or controlling your debt repayment.

If you are contemplating filing bankruptcy in Oregon, please contact us to find out if we can help you get a fresh start.

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