Chapter 13 in Oregon and Washington
In both Oregon and Washington, Chapter 13 is a special aspect of the Bankruptcy Law. It allows you to file a plan that combines your debts and gives you a way to repay either all or some part of them while protecting you or your co-signer from harassment by creditors. If your financial problems cannot be resolved by a Chapter 7 straight liquidation, Chapter 13 will likely prove a wonderful alternative for you.
You must meet several qualifications in order to file Chapter 13. First, you must have a regular income. Second, your unsecured debts must be less than $307,675. Finally, your secured debts must be less than $922,975. A secured debt is one that a creditor has a mortgage or security interest in, such as a home mortgage or auto lien. The maximum length for a Chapter 13 plan is five years. Moreover, you cannot receive a discharge in a Chapter 13 case if you have received a discharge in a Chapter 7 case filed within the last four years, or received a Chapter 13 discharge in a case filed within the last two years.
