Articles from Oregon Bankruptcy Lawyer | Portland, Salem, and Vancouver, Wa

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Rebuilding Credit Scores After Bankruptcy Discharge

Submitted by Anonymous (not verified) on Sun, 09/08/2013 - 01:46

The elimination of debt through bankruptcy is probably the greatest step any consumer can take towards obtaining financial freedom. For most of our Oregon and Washington bankruptcy clients, eliminating the debts is only part of the process. While none of our clients are hellbent on obtaining another credit card, most of them have very realistic concerns about their credit scores and reports.

How Your Debts Should Be Reported on Your Credit Report After Bankruptcy

Submitted by Anonymous (not verified) on Sun, 09/01/2013 - 00:00

Most of our bankruptcy clients are understandably concerned with how their debts are going to be reflected on their credit reports after discharge. After you obtain a discharge of your debts, certain facts about your discharged debts may continue to appear on your credit report.

Rebuilding Credit Score After Bankruptcy Discharge

Submitted by Anonymous (not verified) on Mon, 08/19/2013 - 19:23

Our Oregon and Washington bankruptcy clients are often extremely concerned with repairing their credit scores after obtaining their bankruptcy discharges. It is important to note that your credit score is likely to recover exponentially in the two years after your discharge in bankruptcy. This is particularly so, if you manage to stay employed(not always a simple feat these days) and pay your bills on time. That said, there are steps you can take to stack the deck.

Protecting Retirement Accounts in Bankruptcy

Submitted by Anonymous (not verified) on Sun, 08/18/2013 - 19:20

One of the most serious concerns that many debtors have before filing is what in the world is going to happen to their retirement accounts. Fortunately there are pretty strong protections in place that allow most consumers to protect the contents of these accounts.
The federal exemptions, which are available to most Oregon and Washington bankruptcy filers, exempt most retirement accounts, including IRAs, 401ks, PERS and even many stock bonus plans. What this means is that these assets are not available for distribution to your creditors in a bankruptcy.

Increases in Federal Bankruptcy Exemption Protection

Submitted by Anonymous (not verified) on Thu, 08/01/2013 - 20:50

Federal Bankruptcy exemptions for filing Chapter 13 Bankruptcy are adjusted for inflation every three years. These exemptions are available to both Washington and Oregon consumers. The happy news is that all the exemptions amounts have increased. See below:

  • Federal 11 USC 522(b) Exemption amounts

Northwest Debt Relief Law Firm Now Provides Credit Repair Education to Its Clients for Free

Submitted by Anonymous (not verified) on Wed, 07/31/2013 - 20:39

At the Northwest Debt Relief Law Firm, we know that you probably view bankruptcy as a means to an end: Getting a real fresh start so that you can actually go back to living your life again. For many of our clients getting rid of debt only takes care of part of the problem. The other issue is a bad credit score.

Good News for Oregon Consumers and Their Cars in Bankruptcy

Submitted by Anonymous (not verified) on Mon, 07/29/2013 - 02:37

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Up until recently Oregon car owners who wished to file bankruptcy had cause for concern. Under the Oregon exemptions, single filers could protect only $3000 in car equity and married filers could protect only $3000 each or $6000 for one vehicle.

Federal Exemptions Come to Oregon

Submitted by Anonymous (not verified) on Sun, 07/21/2013 - 18:11

Oregon consumers have traditionally been at a severe disadvantage in bankruptcy compared to consumers in Washington due to Oregon’s failure to allow its consumers to claim the federal exemptions to protect their property in bankruptcy. Ever since I started practicing bankruptcy thirteen years ago, I have had to watch as my Washington clients kept all of their property in bankruptcy while my Oregon clients have often had to turn over their tax refund or wages owed to them on the date of filing or the contents of their bank accounts.

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