Blogs
The Obama administration will continue the extension of federal benefits to married same-sex couples as heterosexual couples, Attorney General Eric Holder will announce on Saturday.
The Justice Department plans to issue a “policy memorandum” on Monday, which will allow same-sex couples to be able to file jointly for bankruptcy and will mandate that they will not be compelled to testify against each other in trial, among other new rights.
The couples will need to have been legally married in a state that recognizes same-sex marriage.
In Oregon, if a judgement has been entered against you and you have not filed bankruptcy, the judgement creditor can garnish your bank account. Once your bank account is garnished, you will receive a challenge to garnishment form which is sometimes also referred to as a Claim of Exemption. Once you receive it, you will need to complete the form and file it with the court as quickly as possible in order to claim that your property is exempt from garnishment. After you file a Challenge to Garnishment, there will be a court hearing in which a judge will determine whether your account is exempt.
Unfortunately, until the court determines that the money in your account is exempt (sadly needing to keep the money is not an Oregon exemption), your account will be frozen. You will not be able to withdraw and money or write checks, even worse the checks that you have already written will now bounce.
If you do have judgments it is probably high time to consult with a bankruptcy attorney. Even if you believe that you can ultimately handle your debts on your own, it is worth considering whether Chapter 13 bankruptcy might be a better framework for trying to repay some of your debts that risking going it alone. Most of us really can’t afford to even temporarily lose access to our accounts, let alone having them frozen and losing every dime.
The original post is titled What is a Challenge to Garnishment in Oregon and How Do I File It? , and it came from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa .
Attorney General, Eric Holder, has just announced that the U.S. government will now recognize same-sex marriages as equal to traditional marriages in all federal legal matters. Couples legally married in states like Washington where same-sex marriage is permitted will now be able to file bankruptcy cases in Oregon jointly despite the fact that Oregon does Read MoreThe original post is titled Same Sex Married Couples May Now File Joint Bankruptcy Petitions in Oregon , and it came from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa .
I’m Northern Virginia Bankruptcy Lawyer Robert Weed. For nearly twenty years, I’ve served people in Herndon from my office in Sterling, VA. Herndon bankruptcy rate–one family of every ten since 2007 Herndon is located in western Fairfax County. Fairfax is the third highest income county in America, (Loudoun is first) and Herndon has higher income […]The post Herndon Bankruptcy Lawyer Information appeared first on Robert Weed.
Debtors may wonder if they can keep their vehicle in a Chapter 7 bankruptcy case if they are still making payments on it. Others may wonder what can happen if they have been unable to make payments but they still want to retain the vehicle. Even though there are two options a debtor may have [...]
The unfortunate answer to this question is yes they can. Oregon case law permits bank’s the right of set off which enables them to take money out of your account to pay back any money you owe to them as long as you have signed an agreement giving them that right. If you signed such an agreement, it probably wasn’t when you set up the actual account but when you signed up for the credit card or took out the loan.
The sad fact is that most Oregonians don’t find out about the set offs until after the bank has taken their social security check. For safety’s sake the best thing anyone can do is use a different lending institution than the one that you owe money to as your primary bank. For example, if your car loan or credit card are through Wells Fargo and the checking account where you social security checks deposited is also located at Wells Fargo, maybe it’s time to start having the checks automatically deposited at a bank where you have no credit relationship.
If you are contemplating filing bankruptcy, you may want to seriously consider setting up a bank account at a bank or credit union where you have no credit relationship. Though few banks currently offset at the time of a bankruptcy filing their numbers are increasing so why take any chances?
The original post is titled Can an Oregon bank really take my social security or SSI Checks After I Deposit Them?! , and it came from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa .
Low income debtors, particularly seniors and the disabled, across the state of Oregon are often concerned about a collectors’ ability to garnish of levy their social security or SSI benefits. Thankfully, the answer is almost alays a resounding; however, as with all things, there are exceptions to this rule. These exceptions are as follows:
- Up to fifteen percent of your social security checks, but not your SSI, can be taken every year to repay federal taxes;
- Any amount over $750 per month can be garnished from your social security checks, but not your SSI, to collect federal debts other than taxes;
- If you have a current Oregon support order, the monthly amounts can be taken out of your social security checks, but not your SSI checks;
- If you have back owed child support an additional twenty percent can be taken out of your social security, but not SSI. If you only owe back child support, the total amount taken out can never be more than half of your social security, unless a court orders otherwise.
The reality is that in Oregon a Chapter 13 bankruptcy will put an end to garnishments for back owed support.The back owed support will be paid but at zero percent interest over a long period of time and only after secured obligations such as needed vehicle payments and mortgage arrears are taken care of.
If you are wondering about how Chapter 13 might help you keep more of your Social Security dollars on a monthly basis, please contact us or set up an appointment online at one of our Oregon offices in either Portland or Salem. I look forward to hearing from you.
The original post is titled Protecting Social Security and SSI In and Outside an Oregon Chapter 13 Bankruptcy , and it came from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa .
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for February 06, 2014 J.C. Penney Company, Inc. Is 1 Step Closer to Bankruptcy BottleRock Music Festival Backer Files for Bankruptcy Buffet Partners files for Ch. 11 bankruptcy
Nicole Eggert, 42, former star of the television show “Baywatch” files bankruptcy with this filing being her third attempt in one year. Eggert filed a Chapter 13 bankruptcy petition to restructure financial obligations and catch up on mortgage payments to prevent foreclosure of her home. She filed bankruptcy twice in the last year with both [...]
You get what you pay for.
When individuals face financial distress they often seek advice first from family members and friends. What this can often lead to is a lot of “my friend said” and “back when I went through it” type advice. While this advice can be comforting to the individual in distress, it can often lead to poor decision making. No two cases are the same. The fact that your friend did or got away with something doesn’t mean that it is what is in your best interest. Some of the most common mistakes that I see in my office are listed below:
Transfers: Often times individuals will come into my office after having recently transferred a number of assets out of their name. This usually results from a friend telling them that they will lose their care or their home when they file. The individual looking to save their assets transfers their vehicle to their child or transfers their home to their parents. They are not trying to cheat the system, they are just trying to hold on to what little they have. The problem is, any transfer that occurs within 6 years of filing bankruptcy that was not made for value can be unwound by the bankruptcy trustee. This means that while the client may have been able to protect their vehicle, home or other asset using bankruptcy exemptions, now that the transfer was made the item may be lost to the bankruptcy estate.
Cash Out Retirement: It breaks my heart when I hear this story “my friend told me I couldn’t keep my retirement if I filed, so I cashed it out and used it to pay down my debt.” Your friend was wrong. Pensions, 401ks, IRAs, 403bs and other retirement accounts are typically protected under bankruptcy laws. Individuals can keep these assets and do not need to worry about losing them once they file. However, once the money is gone it is gone. The idea that individuals would lose their entire retirement savings and still need to file bankruptcy is truly disheartening. Furthermore, cashing out these retirement accounts often leads to tax liabilities that survive the bankruptcy filing. Individuals should never touch their retirement accounts to repay past debt until they have first consulted a bankruptcy attorney.
Remove Name From Bank Account: A bank account is an asset. Removing your name from a bank account is considered a transfer. Even if the money in the account never truly belonged to you, a bankruptcy trustee can claim that by removing your name from the account you transferred your interest in the money to the co-owner of the account. This is problematic for the reasons stated above under transfers.
Repay family members: Many individuals who file for bankruptcy have spent the last few years struggling to avoid it. During this time they often find themselves borrowing money from family members or friends. When the time finally comes to file many individuals rush to repay their family members to that they don’t have to “include them in the bankruptcy.” However, under the current bankruptcy laws these payments are considered to be “preferential” in nature. Preferential payments made within one year of filing bankruptcy can be voided by the trustee and recovered to distribute to your other creditors. This often means that your family member will face a lawsuit if they do not immediately pay the funds over to the trustee. However, if the individual had simply waited until after the bankruptcy was filed, they would have a right to repay their family members without threat of legal action.
Before taking any action, individuals facing financial distress should contact a qualified bankruptcy attorney. To get your free initial consultation you can contact our office at (248) 629-6367.
Second Chance Legal Services is a bankruptcy law firm located in Madison Heights, MI. While we are located in Oakland County, we service Wayne, Oakland and Macomb County residents. As Detroit Bankruptcy Attorneys we specialize in helping individuals escape their burden of debt in order to get a fresh start on their bright future.
Because of our small size our clients get individual attention. You will have the same bankruptcy attorney throughout your case whether you are in a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Your attorney will help guide you through the bankruptcy process in order to help you get a successful discharge of your debt.
It is important to note that Macomb County Bankruptcy Attorneys, Oakland County Bankruptcy Attorneys and Wayne County Bankruptcy Attorneys all deal with the same judges and trustees. This is because all Michigan Bankruptcies are filed with the federal bankruptcy court in Detroit, MI. For this reason, it is important that you choose an attorney not by location but rather by how comfortable you feel with them when you meet. If you don’t feel comfortable with their knowledge, their experience or their demeanor you should seek out an attorney that you do feel comfortable with.
If you are interested in speaking with a Detroit bankruptcy attorney from Second Chance Legal Services, please contact our office at 248-629-6367 for a free initial consultation.
Updated daily, this blog will keep you informed on the latest bankruptcy news! 
Learn more about how Bankruptcy works and what you need to know.