Oregon residents will be affected by the new means test/median income numbers announced by the United States Trustee Program Department of Justice. The numbers are adjusted periodically by the U.S. Trustee Program and generally have a negative impact on those wishing to file a Chapter 7 bankruptcy.

Debtors filing for bankruptcy protection should be concerned about their right to receive an inheritance within the six months after filing for bankruptcy (if some relative has died before filing bankruptcy or the relative dies within 180 days of the debtor’s filing), as the bankruptcy trustee can take that inheritance to pay creditors.

Your creditors are hoping that the consumer never finds out about the five facts listed in the article posted on Bankruptcy Law Network. The debt collectors may lie to you about these five facts about bankruptcy, hoping that consumers remain afraid that their employers, bosses, will find out about the bankruptcy filing or that the filing of a bankruptcy will affect a marriage or spouse. Don’t be misled, read more information on Bankruptcy Law Network.

Many debtors are surprised to learn that income to the bankruptcy court doesn’t just include taxable income. Income can be defined different ways depending on which section of the bankruptcy code is involved.

A chapter 13 bankruptcy is often viewed as a repayment or reorganization plan, while a Chapter 7 bankruptcy is called a liquidation.   In a Chapter 13, priority debts (back taxes, child/spousal support) are usually paid in full, followed by short-term secured debt (cars, arrearages on mortgages, property taxes, etc.) being paid, and then, if the Debtor’s [...]

When a debtor files bankruptcy, part of the process requires that they list all assets (all the stuff that they own) and all liabilitlies for the bankruptcy court to review.   This rule has been in place for a long time, but under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, the rule was emphasized.  [...]

On Friday, June 26, 2009, Governor Ted Kulongoski signed HB 2306, which provides increased protection for a debtor to protect his vehicle and his home from creditors.   Formerly, a debtor could protect $2150 in value of a motor vehicle.   The bill amends Oregon Revised Statute 18.345(d) motor vehicle exemption value up to $3000.    Oregon has [...]

As my friend and colleague, Cathy Moran explained in her blog over a year ago, the benefits of filing a bankruptcy mean that the debtor provides information to the bankruptcy court in the papers filed with the court.
This benefits the debtor more than the Court–this honesty.  For full disclosure, the debtor is able to rid [...]

Rachel Lynn Foley, my esteemed colleague in Missouri, wrote today on “How Not To Be Selected As A Client” from her perspective as a bankruptcy attorney.   I also wrote a blog this past week on ”My Bankruptcy Attorney Doesn’t Return My Phone Calls, “ explaining that sometimes attorneys prioritize the calls back to clients or wait for [...]

Today, the Senate voted on Senate Bill 61, the bill which would allow homeowners, consumers, everyday Americans, to modify their residential mortgages in bankruptcy.   This bill had been debated for over 8 months, mostly during the presidential elections.  The Bill did not pass.
Other types of mortgages can be modified in bankruptcy; other types of loans [...]