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What is the Right Timing for Filing My Bankruptcy Petition?
Bankruptcy filings in the U.S. have been dropping despite the coronavirus pandemic. There is an expectation that bankruptcy filings will increase substantially in the near future, however. But how do you know if you are on your way to bankruptcy? Look at these warning signs: Lack of emergency fund Using credit cards Not using a…
Read MoreWhat Is the Statute of Limitations On Debt Collection in Oregon?
When debts remain unpaid for a long time, the law allows creditors to sue you so that they can obtain a judgment and recover their money. Through such a judgment, creditors may be able to collect money from you involuntarily through wage garnishments or property and bank account seizures. But bad debt doesn’t hang over…
Read MoreCan a Bankruptcy Stop My Foreclosure?
Those who are facing foreclosure often consider the possibility of bankruptcy. Of course, when most people think of bankruptcy, they think of Chapter 7. They wrongly assume that their debts will be wiped out with a penalty on their credit report. While this does describe Chapter 7, there is another type of bankruptcy, Chapter 13,…
Read MoreMortgages, Modifications, and Bankruptcy: Some Practical Considerations
Often I will meet homeowners who have fallen behind on their mortgage payments and are facing a potential foreclosure, or who may even be in the middle of a foreclosure. Often, it is my job to perform triage with the situation; and depending on the situation, there are several options available to the homeowner. This…
Read MoreHow Can Bankruptcy Stop My Foreclosure?
Bankruptcy is an extremely useful tool when encountering a foreclosure on real property. As part of my practice, I do foreclosure defense. In many cases, bankruptcy is a fall-back option should my clients be unable to obtain a timely mortgage modification. Sometimes we choose bankruptcy first to stop a foreclosure, rather than alternative options that…
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