bankruptcy

Transfering Money to Friends and Family

February 12, 2009

Anyone contemplating a bankruptcy filing should avoid repaying debts to family and friends prior to filing their bankruptcy petition. Failure to do so can lead to disaster.   As a general rule, anything repaid to a relative or friend within a year period prior to filing a bankruptcy case can be recovered by the Bankruptcy [...]

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bankruptcy portland oregon

January 25, 2009

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Requesting a Mortgage Modification

January 21, 2009

If you want to successfully obtain a modification of your mortgage from your lender, it is imperative that you get all your ducks in a row before making your request. In summary you need to prepare a monthly budget, determine the duration and type of loan that you will need, get all the financial documents [...]

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Giving Bankruptcy Courts the Ability to Change Your Mortgage

January 1, 2009

The Wall Street Journal December 31, 2008    Mortgage ‘Cram-Downs’ Loom as Foreclosures Mount    By MICHAEL CORKERY    Mortgage lenders who wake up Thursday with a New Year’s hangover are likely to face another headache soon: The effort to give bankruptcy judges the power to rewrite mortgages is gaining steam.    The banking industry [...]

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Seek Professional Help

December 28, 2008

Your lender is now foreclosing your home.  What’s the first step?   Do you file for bankruptcy?  Do you defend the foreclosure action? Do you look ask for a modification or contact the workout departent of your lender? All of the above are valid ways to confront a mortgage default.  There are any number of reasons [...]

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How Do I Know that I Need to File Bankruptcy?

December 26, 2008

 Do you know the warning signs of too much debt?  If you answer “Yes” to any of the questions below,  you are probably already in financial trouble whether you realize it or not and need to find out what your options are.  Do not allow yourself to be lulled into a false sense of security just [...]

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What is a Bankruptcy Discharge?

December 25, 2008

Unless for some reason a general discharge of debts is denied, the Court typically enters an order which grants a discharge to the person(s) named as the debtor(s). A discharge in bankruptcy eliminates a debtor’s legal obligation to pay debts that are discharged. The granting of a discharge is not a dismissal of the case [...]

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Can An Employer Fire Me for Filing Bankruptcy?

December 23, 2008

The law provides express prohibitions against discriminatory treatment of debtors by bothgovernmental units and private employers. A governmental unit or private employer maynot discriminate against a person solely because the person was a debtor, was insolvent before or during the case, or has not paid a debt that was discharged in the case. The law prohibits the following forms of governmental discrimination: [...]

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Bankruptcy and Your Credit Report

December 21, 2008

 The Bankruptcy Court has no jurisdiction over credit reporting agencies. The bankruptcy petition, schedules and plan are public documents and are available to the general public at the Clerk’s Office. Credit reporting agencies regularly collect information from the petitions filed and report the information on their credit reporting services. Under the provisions of the Fair [...]

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