Cascade Bankruptcy

Chapter 13

cascade-bankruptcy — Thu, 11 Mar 2010 21:52:52 +0000

Chapter 13 reorganization bankruptcy is a court monitored repayment plan that requires you to use your own income to repay your debt. Filing chapter 13 puts a stop to creditors, but you have to show the court that you are able to make your payments. You may not be eligible for chapter 13 if your income is too low or inconsistent. This also allows you to keep hold of your possessions such as your house and vehicles. Some people file a chapter 13 in place of a chapter 7 if they don’t qualify for a chapter 13, which is a fresh start bankruptcy where most of your debts are cleared but you may have to give up property or possesions.

The Chapter 13 process can go on for 3 to 5 years. This type of bankruptcy can be used to repay your debt on your home mortgage over time which will stop an impending foreclosure.

Chapter 13 cases can be quite complex so the assistance of an experienced attorney is always required.

Chapter 7

cascade-bankruptcy — Thu, 11 Mar 2010 21:52:12 +0000

Chapter 7 bankruptcy clears out most types of debt and gives you a brand new start. The bankruptcy laws have recently been amended to make it harder to qualify for this type of assistance, most people in debt that are considering bankruptcy are still able to start over by filing a chapter 7.

When you file a chapter 7, your creditors will be notified of your case and all collection activity will be stopped. To find out whether your assets are subject to liquidation, a bankruptcy trustee is assigned to your case. You will have to go to a hearing with the Trustee so you can answer questions while under oath. A couple months after the hearing, the judge will enter an order to discharge any debts that are dischargeable and your case will then be closed. There are a few types of debt that are not able to be wiped out such as governement loans, student loans, fines and some taxes.

Just like a Chapter 13, the Chapter 7 process can be confusing. It’s important that you consult with an experienced attorney to make sure you follow all guidelines of the federal bankruptcy code. Your attorney will analyze your eligibility for a chapter 7 bankruptcy and tell you if any of your assets will be subject to liquidation and figure out if any of your financial transactions made recently will interupt your case. The timing of your case can make a huge difference in saving you thousands of dollars. When your case is filed, an experienced attorney will take over and communicate with your creditors, the trustee and the government attorneys who will be reviewing your case.

Cascade Bankruptcy

cascade-bankruptcy — Mon, 08 Feb 2010 21:39:38 +0000

Cascade Bankruptcy Law Firm has been presented with some very unique situations over the years, and has been able to positively help thousands of Portland-area individuals and couples through their chapter 7 and chapter 13 bankruptcies. We aim to provide the most knowledgeable advise, guidance, and representation that you’ll need to for a brand new start.

Please continue to “Bankruptcy Services” for more detailed information about how the attorneys at Turner Uhlemann PC can help you.

With offices located in Portland, Clackamas, Lebanon, Albany. and Salem, Turner Uhlemann PC have you covered around Portland and the Willamette Valley.