Filing Bankruptcy and Keeping Your Tax Refund

Your ability to keep your tax refund while filing a Chapter 7 Bankruptcy may largely hinge on whether qualify for the Oregon or Washington Bankruptcy exemptions. This is so because there is no exemption in the state of Oregon that allows you to keep your much of your refund; whereas, in Washington there is an exemption available that will normally allow you to keep your refund in full.

Unless you have lived in either Oregon or Washington continuously for the last two years, the determination of which state’s exemptions apply is likely not as simple as you might think. For this reason and many more, discussing your potential refund with an Oregon or Washington Bankruptcy Attorney prior to filing is an important part of bankruptcy planning.  

Posted in Bankruptcy Information for Oregon and Washington, Oregon and Washington Bankruptcy Issues in the News, Portland, Oregon Chapter 13 Bankruptcy, Salem, Oregon Chapter 13 Bankruptcy, bankruptcy portland  |  By: Thomas McAvity

Finding Your Creditors Prior to Filing Bankruptcy

Debtors across both Oregon and Washington often wonder how they will possibly discover all their creditors prior to filing bankruptcy. Luckily, Under the Fair and Accurate Credit Transactions Act,  you are entitled to a free copy of your credit report each year.

While it is possible to access your credit report online, many  credit reporting companies require you to give up many of your rights prior to giving you access to your credit report through their websites. Even after they give you access to your report,  you have to make your way through a maze of offers to purchase services that you do not necessarily need. This being the case, the reality is that the best way to get your report is to request it by mail.

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Posted in Bankruptcy Information for Oregon and Washington, Consumer Protection in Oregon and Washington, Oregon and Washington Bankruptcy Issues in the News, Portland, Oregon Chapter 13 Bankruptcy, Salem, Oregon Chapter 13 Bankruptcy, Vancouver, Washington Chapter 13 Bankruptcy  |  By: Thomas McAvity

Getting Ready to File Bankruptcy

Steps to Take Before Filing A Bankruptcy In Oregon or Washington

• Do your best to limit the the amount of purchase activity in the ninety days prior to the actual filing of your case.
• Stop using all of your credit cards today.
• If you have made big purchases, executed balance transfers or taken cash advances in the last year, try and make sure that there have been at least three payments on each relevant credit account. If not, you may want to make such payments until your case is filed.
• Get your state and federal tax records for the last year that you filed.
• Make copies of all pay-stubs for the last seven months and continue to collect them up until the filing date of your case. Get copies of any paperwork  that would document any other income such as social security, unemployment and the like for the same period.
• Do not transfer any bank accounts, real estate or valuables out of your name without speaking to your Oregon or Washington Bankruptcy Attorney. If you must do so, make sure that the sale does not involve a friend or family member.
• Do not–I repeat, do not– make any repayments on debts to friends and family members prior to filing.
• If you already have a judgment against you, do not tell a creditor that you are going to file bankruptcy.  It may provide motivation for them to seize assets while they can.
• Continue to make payments to secured creditors for property that you want to keep.  This is very important if you want to keep your car and house.
• Perform a title search on your home to make sure there are no unknown liens.
• Disclose all property that you may have an interest in to your attorney. This includes bank accounts held with parents as cosigners, potential legal claims, personal injury cases, and any debts that are owed to you.

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Posted in Bankruptcy Information for Oregon and Washington, Portland, Oregon Chapter 13 Bankruptcy, Salem, Oregon Chapter 13 Bankruptcy, Vancouver, Washington Chapter 13 Bankruptcy, bankruptcy portland  |  By: Thomas McAvity

Bank Accounts and Your Bankruptcy

Clients often worry about whether they will be able to open or even keep bank accounts while their bankruptcy is pending, or even after their bankruptcy is closed.  In both Washington and Oregon, there are no bankruptcy laws that would prevent you from opening or keeping a bank account.  There may, however, be some issues to resolve

If you are in the process of getting your case ready for filing and have a bank account with a bank or credit union that has also loaned you money, you may want to open an account at an institution to which you are not in debt.  This is so because banks and credit unions generally have the right to set off the money you are holding in your account against the debt that you owe them.  Even if you are current, the money in your account may be used as collateral for the debt.  Granted not all institutions follow this practice, but it is often impossible to determine which ones will. In Both Washington and Oregon, credit unions are the lenders most likely seize funds held  in accounts. Credit unions will often seize funds deposited after filing so watch out.

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Posted in Bankruptcy Information for Oregon and Washington, Oregon and Washington Bankruptcy Issues in the News, Portland, Oregon Chapter 13 Bankruptcy, Salem, Oregon Chapter 13 Bankruptcy, Vancouver, Washington Chapter 13 Bankruptcy, bankruptcy portland  |  By: Thomas McAvity

Creditors Showing Up at My Hearing?

In both Oregon and Washington, clients are always at least a little bit nervous regarding the one hearing that they have to attend while their bankruptcy case is pending. That hearing, commonly known as the 341 hearing or meeting of the creditors, generally takes place a month after the case is filed. Often clients lose sleep as the hearing approaches for no good reason.

In both Oregon and Washington, creditors rarely appear at 341 creditors hearings  at least that is the case here in Salem, Vancouver and Portland.  Why?  There is little that creditors can do at these hearings. In Portland, 341 hearing are scheduled at a rate of roughly ten per hour. This means that the trustee will rarely devote more than six minutes to any one case. Creditors who are familiar with the process rarely bother to appear: They know that there is not time to ask any significant questions, and creditors who are not familiar with the bankruptcy process will often find themselves cut off by the trustee after just a few questions.

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Posted in Bankruptcy Information for Oregon and Washington, Portland, Oregon Chapter 13 Bankruptcy, Salem, Oregon Chapter 13 Bankruptcy, Vancouver, Washington Chapter 13 Bankruptcy, bankruptcy portland  |  By: Thomas McAvity

Getting Rid of Credit Card Debt in Bankruptcy

In both Oregon and Washington, credit card debt is just about the easiest form of debt to discharge in bankruptcy. Occasionally though a credit card lender will file an action against the debtor in the bankruptcy court in order to dispute the discharge of credit card balance. The creditor may assert that some part or all of the debt owing cannot be discharged in the pending bankruptcy. If that creditor prevails, debt will survive the bankruptcy and remain owing.

A credit card lender may assert that the debtor committed fraud in either in applying for the card itself or in the way the debtor used the credit card. If the credit card lender can prove that debtor falsified information on the initial credit card application, the ensuing credit card balance may not be discharged in the bankruptcy. Similarly, a credit card lender may claim that the debtor ran up charges on card with no intention to repay the resulting debt. A rebuttable presumption of fraud arises where cash advances are taken out in the three months prior to a bankruptcy filing. Likewise, a rebuttable presumption of fraud also arises where luxury services or goods are incurred in the three months prior to the filing of a bankruptcy case. 

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Posted in Bankruptcy Information for Oregon and Washington, bankruptcy portland  |  By: Thomas McAvity

Who is the Chapter 13 Bankruptcy Trustee for the Salem, Oregon Metro Area?

 Fred Long is the Chapter 13 Trustee for all cases filed in the Salem, Oregon metro area. He is also the Chapter 13 Trustee for most cases filed in Southern Oregon including all cases filed in Marion, Linn, Polk and Lane Counties. Correspondence to his offices can be directed to Fred Long, Chapter 13 Trustee, POB 467, Eugene, OR 97440. 

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Posted in Bankruptcy Information for Oregon and Washington, Salem, Oregon Chapter 13 Bankruptcy  |  By: Thomas McAvity

HOA Fees and Bankruptcy

In both Oregon and Washington, a bankruptcy filing discharges any homeowner’s fees that accrued before the bankruptcy case is filed. The discharge does not release the homeowner for fees for months after the case is filed, for so long as the debtor owns or occupies the condo. Because the homeowner is liable for post-file fees, it may make sense to file a given bankruptcy case close to an actual foreclosure sale date in order to discharge as much of the potential HOA fees as possible.portland, tigard, gresham, bankruptcy, hillsboro, vancouver, longview, chehalis, beaverton

Posted in Bankruptcy Information for Oregon and Washington, Portland, Oregon Chapter 13 Bankruptcy, Vancouver, Washington Chapter 13 Bankruptcy  |  By: Thomas McAvity

The Vancouver, Washington Chapter 13 Bankruptcy Creditors Meeting

People are often nervous about the Vancouver, Washington Chapter 13 Bankruptcy Meeting of the Creditors. The real source of this anxiety is that they have no idea what to expect.

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Posted in Bankruptcy Information for Oregon and Washington, Vancouver, Washington Chapter 13 Bankruptcy  |  By: Thomas McAvity

Your Portland Oregon Chapter 13 Bankruptcy Creditors Meeting

Many debtors are apprehensive about the first meeting of creditors and do not really understand what it is. This article will briefly explain what happens and what is expected of you. In Oregon, each bankruptcy petition signer must attend or the chapter 13 bankruptcy will be dismissed.  You will want to verify the address of where the hearing is held and understand directions before the date of your hearing.

Ideally, you should come about a half an hour early so that you can hear other cases before yours. Present at the hearing is the Portland Chapter 13 Bankruptcy Trustee or one of his staff attorneys and an assistant.  Other individuals and their attorneys waiting for their hearings will be in the room as well. In Oregon, creditors rarely attend and if they do, your bankruptcy attorney is there to represent you.

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Posted in Bankruptcy Information for Oregon and Washington, Portland, Oregon Chapter 13 Bankruptcy  |  By: Thomas McAvity