As many consumers in Oregon and Washington are now painfully aware, debt buyers often purchase severely flawed claims. The FTC has determined that the information that debt buyers receive when they purchase debts, which is the only information they have to rely on in collecting, is often woefully inadequate. This often results in debt buyers suing the wrong Oregon or Washington consumer, or for the wrong amount, or on a debt that has long since been barred by the applicable statute of limitations.

Written by: Robert DeMarco

Even if your income is above the applicable median family income, you may still qualify for Chapter 7 bankruptcy.
You’ve done the means test.

More and more I am seeing both Washington and Oregon consumers forced into bankruptcy as a result of Yo-Yo financing schemes utilized by local car dealerships. Often the consumer has no idea that the practice was intentional.

In bankruptcy, spousal income is important. But only some of it.
The part of the bankruptcy process that scares my clients most has nothing to do with them.
It’s got to do with their husband or wife, someone who may not even be filing for bankruptcy.

Once you figure out current monthly income for your means test, you need to match it up to see where you stand.
You’ve completed the first part of the onerous means test for your bankruptcy case.

Income is money that you make. And more.
When we look at the means test, we begin with a discussion of your income averaged out over the past six months.
If you’re married and living together, we look to your spouse’s income as well.

Is Washington poised to turn federal student loans into the new adjustable rate mortgage?
On July 1, 2013 rates for new federal student loans will double to 6.8 percent, from 3.4 percent.

Bankruptcy is one of the most powerful tools consumers can utilize to regain financial control.  When considering this option you should get a clear idea as to how it can help improve your situation.  It may help you eliminate qualifying debt obligations while helping you reestablish others.  Plus, depending on your situation one chapter may [...]

If you file bankruptcy, you’ve got to complete the means test form. Period.
One of the odder requirements of the bankruptcy law rests in the means test.
The thinking behind it is that people who have had an income higher than more than half of the other people in their state for the six months prior to filing bankruptcy are better able to repay their debts.