Archive for Apr, 2008

Apr
25

Bankruptcy on the Rise

Estimates show that 1.1 million to 1.4 million Americans will file bankruptcy this year as tough filing rules get trumped by tougher economic woes.

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Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
20

Bankruptcy Glossary

ADVERSARY PROCEEDING: A lawsuit filed in the bankruptcy court related to the debtor’s bankruptcy case such as complaints filed to determine whether the debtor should get a discharge or to determine the value of a lien.

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Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
19

Seven Mistakes to Avoid Under the New Bankruptcy Law

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 is enormously complicated and presents numerous challenges to lawyers representing consumer debtors in both Oregon and Washington.  Consumer bankruptcy lawyers cannot afford to be only dimly aware of these new requirements and to learn the new law in stages. Rather, they must be vigilant in educating themselves and in mastering the law now. One mistake can lead to dismissal of a client’s petition.

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Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
18

Credit After Bankruptcy

In both Oregon and Washington, debtors on the precipice of bankruptcy often end up on the receiving end of creditor threats regarding the potential impact of bankruptcy on their ability to obtain credit after their debts are discharged. In a recent article, Katherine Porter, an associate professor of law at the University of Iowa, noted that credit solicitations of recent bankruptcy debtors has become rampant.

After studying data collected by the Consumer Bankruptcy Project, she found that nearly every debtor receives credit offers shortly after bankruptcy.  Most offers are for credit cards, however, some are for mortgages and car loans.  This phenomenon is completely at odds with the picture painted by the credit industry and things most of us read and hear about from credit counseling agencies and debt settlement negotiators about bankruptcy ruining your credit such that you will never be able to get a credit car, finance a car or get a mortgage. The data collected by the Consumer Bankruptcy Project shows that it is not only possible to obtain credit after bankruptcy, but that it might actually be easier to obtain credit after bankruptcy than after other non-bankruptcy options are attempted.  + Read the full Entry

Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
16

Oregon Bankruptcy Hearing and 341 Locations

No matter where you live in Oregon, it is very likely that the 341 meeting of the creditors for your bankruptcy will be held in a relatively convenient location. Chapter 7 and Chapter 13 Bankruptcy Creditors Meetings are held all over the state, as are Chapter 13 Bankruptcy Confirmation hearings. Below is a fairly exhaustive list of all the Oregon bankruptcy hearing locations. Look to the one closest to you to figure out your most likely bankruptcy hearing site.

Bend National Guard Armory
875 SW Simpson Avenue
Bend, Oregon 97702 J.F. Kilkenny Post Office Buildings
District Courtroom, 2nd Floor
104 SW Dorion
Pendleton, Oregon 97801 Chapter 7 341(a) Meetings
Gus Solomon Courthouse
620 SW Main Street, Suite 223
Portland, Oregon  97205 Chapter 13 341(a) Meetings
Wells Fargo Building
1300 SW 5th, Suite 1700
Portland, Oregon  97201 Conference Room
322 South Holladay
Seaside, Oregon 97138  + Read the full Entry

Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
08

Washington Bankruptcy-Where is my Meeting of the Creditors Held?

In Washington, the Clerk’s Office for the Bankruptcy Court, sends a notice to the debtor and to all the creditors that provides the date, time and location of the sec. 341 meeting of creditors.  The location of the meeting depends on the county where the debtor resides or has his principal place of business or assets on the date he files his petition.  

 County Meeting Location King (Chapter 7)) + Read the full Entry

Posted in Bankruptcy Information  |  By: Thomas McAvity

Apr
02

Consequences of Filing Delay in Oregon and Washington

In both Oregon and Washington, a bankruptcy petition is really just a “snapshot” in time. This is so because much of the data on your bankruptcy petition is accurate only on the day that your bankruptcy petition is actually filed. The consequences of filing a month later are numerous and substantial. Let’s look at the consequences of filing in July, 2008 rather than June 2008.

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Posted in Bankruptcy Information  |  By: Thomas McAvity