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 [...]
Retiring Chapter 13 Trustee in Seattle After more than 19 years as the Chapter 13 Trustee in Seattle, Mike Fitzgerald will retire on September 30, 2918. The United States Trustee has announced the appointment of Jason Wilson-Aguilar as the Chapter 13 Standing Trustee for Seattle, effective October 1, 2018. After nearly two decades as [...]
Chapter 13 Bankruptcy tools gives you options to help you manage your home mortgage. Chapter 13 involves a flexible payment plan that’s especially helpful with debts you can’t write off, or “discharge.” It can be much better if you own income taxes, child or spousal support, or student loans, for example. Chapter 13 can [...]
Circumstances May Favor Chapter 13 over Chapter 7 Chapter 13 Bankruptcy May Be a Better Option and is a form of consumer bankruptcy that requires some form of repayment to creditors over a three to five year period. Most consumers that we meet in our Oregon and Washington offices come in believing that Chapter 13 [...]
Chapter 13 is famous for two things. Saving Your Home and Being Complicated. Saving Your Home With a Chapter 13 Bankruptcy can be a very tedious process and here are some of the situations below. In the short term, Chapter 13 can stop foreclosures and other creditor actions (much like a Chapter 7). However, unlike [...]
The most common reason for filing bankruptcy is that a person has too much high interest credit card balances or medical bills that they cannot afford to repay both from their own perspective and in the eyes of the court. Occasionally, a person may have such a high income, or own assets of such [...]
Chances are that you have heard many of the myths of filing for Bankruptcy and half-truths floating around concerning the bankruptcy process in Oregon. One of the misconceptions we encounter most frequently concerns eligibility for the Chapter 13 process. Here at Northwest Debt Relief Law Firm, we believe that there is a best-case debt relief [...]
When deciding to file bankruptcy, Portland residents should consider several factors, including which type of bankruptcy petition to file, when to file it for maximum protection from creditors and how much of your property you can keep. Finding the appropriate Portland Bankruptcy Attorney can make the difference of having a smooth filing or the opposite. [...]
So you were in the marijuana business or worked in it and things didn’t work out. Now you are thinking about filing bankruptcy and wonder what effect, if any, your former business or employer is going to have on you. As bizarre as it might sound to anyone living in Portland or Salem where dispensaries have [...]
Some taxes don’t qualify for bankruptcy discharge. Most often this is because they were due less than three years ago or were filed less than two years ago. Many of our potential bankruptcy clients worry about a big tax bill after bankruptcy, particularly clients with large balances owing to the Oregon Department of Revenue. Certainly [...]
