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Bankruptcy Overview

Most people considering filing for bankruptcy will ask: What are bankruptcies? What is the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy? Which bankruptcy options am I eligible for? Your Vancouver WA bankruptcy attorney will be able to give you legal advice you as to which bankruptcy chapter best suits your needs. What Is Chapter [...]

2019-09-25T14:27:08+00:00

Involuntary Bankruptcy in Oregon

Any individual may file for bankruptcy. For that matter, partnerships, corporations, or business trusts may take advantage of bankruptcy protection too, excluding certain types of business organizations such as banks and insurers. When the filer of the bankruptcy petition is the debtor, then it’s a voluntary bankruptcy. According to bankruptcy laws, a voluntary petition [...]

2019-09-17T09:17:32+00:00

Student Loan Debt and Bankruptcy

Student loan debt is now, more than ever, a crisis in the United States. Consider the following numbers: As of 2019, student loan debtis at an all-time high with a national total of $1.5 trillion. In a recent study, 32% of consumers who use a bankruptcy-assistance service to file for Chapter 7 bankruptcy protection [...]

2019-08-29T06:35:46+00:00

Consumer Bankruptcy in Portland Oregon

There are several chapters in the bankruptcy code. Chapters 7, 11, 12, and 13 are the most common. There’s also a Chapter 15, but this bankruptcy chapter mainly involves insolvency cases in foreign countries. Chapter 12 is particularly for family farmers and family fishermen to file for bankruptcy protection. Chapter 11, on the other [...]

2019-08-12T12:21:01+00:00

Is Bankruptcy Beneficial to Senior Citizens?

While bankruptcy often seems to be suggested as a way to stop harassment from collectors, if not totally eradicating one’s debts,  seniors and retirees should carefully consider their options thoroughly.  How much or how little property they have acquired may work against them. If the elderly have inherited or acquired substantial assets, they are [...]

2019-08-13T06:49:12+00:00

What are the Top Causes of Bankruptcy?

A common misconception is that irresponsible people are the ones who usually file for bankruptcy. However, nothing could be farther from the truth. While it is true that bad budgeting or overspending may be attributed to being irresponsible, managing money is harder than ever thanks to inflation. Thus, a combination of bad budgeting and a [...]

2019-08-13T07:21:21+00:00

Which Type of Bankruptcy is Better for A Small Business Owner Like Me?

When you find your small business in the red, bankruptcy may be your best option. Restructuring your debts under Chapter 11 or Chapter 13 (with certain limitations) may be the saving grace to keep your company afloat. On the contrary, if you are planning to close down your business, a "straight" or "liquidation" bankruptcy may be [...]

2019-08-12T12:49:40+00:00

Can A Self-Employed Individual File For Bankruptcy?

Yes, you may file a Chapter 7 or Chapter 13 bankruptcy as long as you can establish and prove your average income for the six months prior to filing your case. If you are self-employed or an independent contractor looking into filing Chapter 7 or Chapter 13 bankruptcy,  you need to verify your income. [...]

2019-08-12T12:52:45+00:00

What Can Bankruptcy Attorneys Do For Me?

If you are considering bankruptcy in Seattle, you must already be in a dire financial situation. As such, you probably think it is better if you file bankruptcy on your own to save on attorney’s fees. However, you may not be aware that it is a big and expensive mistake. The fact remains, working with [...]

2019-08-12T12:37:48+00:00