Are You Eligible for Chapter 13 Bankruptcy?


Bankruptcy Attorney in Portland, Oregon


Dealing with overwhelming debts can often be frustrating, and to get a fresh start, filing for bankruptcy can be your best option. In the United States Bankruptcy code, there are various types of bankruptcy available for people and families. If you are a debtor, choosing the best type of bankruptcy is a crucial decision. While it is not required to have a bankruptcy lawyer, having such is certainly a wise decision. 

By nature, the bankruptcy process is complicated. It takes a skilled bankruptcy attorney to achieve the best possible results. If you or someone you know requires an affordable and quality legal representation, Michael D. O’Brien & Associates, P.C. is the best choice. Our primary goal is to educate you on the best options available and to devise an effective strategy for implementing solutions to any financial problems you may be experiencing. If you want to discuss your situation with us, contact us now! 

Why do I need a Bankruptcy Attorney in Oregon?

Are You Eligible for Chapter 13 Bankruptcy portland? When you consider filing for bankruptcy, every following move you take becomes critical. You cannot make decisions on what sort of bankruptcy to file until you understand the complete legal process. You must choose a bankruptcy lawyer who can help you and answer all of your inquiries. Thus, keep the following attributes of a bankruptcy lawyer in mind:

  • Board Certified. Only a few bankruptcy lawyers in Portland have achieved Board Certification. Aside from doctors, lawyers can also be certified. This indicates that a certified bankruptcy attorney has met the appropriate objectives and required level of expertise in the bankruptcy process. Furthermore, this ensures that they are well-versed in creditors’ and debtors’ rights law.
  • Community Involvement. The bankruptcy law firm’s community involvement demonstrates the firm’s genuine principles of giving back to the community. It will demonstrate their commitment to serving and safeguarding the greatest interests of the people. Aside from that, it provides you with additional assurance that your lawyer is reputable in your state. If your bankruptcy lawyer has strong dedication, and at the same time, reputable, you will achieve the best results.
  • Affordable Legal Service. Consider a law firm that can offer reasonably priced legal services. It will not suffice if the law firm charges you a hefty fee. In the midst of your financial difficulties, look for a bankruptcy firm that can provide excellent service while remaining affordable. 

Michael D. O’Brien is one of the few attorneys in Oregon who received Consumer Bankruptcy Specialist by the American Board of Certification in 2007. Michael D. O’Brien & Associates, P.C. is available to help you get a fresh start in Portland, Clackamas, or Bend. With over 26 years of experience in the field, our expert bankruptcy attorneys can guarantee you satisfactory results. Michael D. O’Brien and Theodore J. Piteo are both Super Lawyers Top Rated Bankruptcy Attorneys. With our genuine desire to assist struggling debtors, you will never regret hiring us. We offer affordable legal services to help you attain financial freedom. Schedule a free case evaluation today!

How much does bankruptcy cost?


WHAT WE DO

The cost is broken into three components – a filing fee, some mandatory class fees, and the attorney fees. As to the attorney fee, like everything, the devil is in the details which is why we provide a free consultation so we can learn about your problem, identify your goals, and develop a strategy to achieve those goals. Find out how much a bankruptcy will cost you.

 

What is Bankruptcy?

It is unavoidable for people to get behind on their debt payments, whether it is a vehicle payment or a mortgage. Most of the time, the bank will begin with little adverse action, such as repeated phone calls. The lender will initiate high-level adverse procedures in the months ahead, such as foreclosure or repossession. In these cases, you have a limited amount of time to secure the obligations. If this is the case, filing for Chapter 13 bankruptcy may be your best choice. It is a federally supported payment plan allows you up to five years to bring your bills current.

During the debt-repayment period, creditors cannot execute adverse actions. Before doing so, they need to obtain approval from the competent bankruptcy court. Thus, other than a repayment plan that suits your budget, Chapter 13 Bankruptcy also gives you peace of mind. After the repayment period, debtors can enjoy a fresh start. This is something that the bankruptcy code guarantees to the debtors.

Are You Eligible for Chapter 13 Bankruptcy?

If you want to keep collateral, Chapter 13 Bankruptcy is the ideal type for you. To file for bankruptcy chapter 13, one must meet the following qualifications:

  •  Amount of Unsecured Debt. If you are a debtor, your unsecured debt must be less than $307,675 in medical bills, credit cards, or any other debts. Granting that your debt is higher, you might consider filing for Chapter 7 Bankruptcy instead.
  • Amount of Secured Debt. Aside from the required amount of unsecured debts, your secured debts must be higher than $922,975. The point is that paying this sum in the next three to five years will be tough. If you do not meet this requirement, you have the option of proceeding to Chapter 7.
  • Discharged Debt. If you have received bankruptcy discharge in Chapter 7 bankruptcy in the last 4 years or received a Chapter 13 discharge in 2 years, you cannot receive the same in Chapter 13. 

Why File for Chapter 13 Bankruptcy?

It is indeed true that many people would go for Chapter 7 bankruptcy than Chapter 13 because it does not require debtors to pay the lenders. There are also lots of people who consider filing for Chapter 13 Bankruptcy, aside from the fact that they qualify, Chapter 13 also gives options that are not available in Chapter 7 bankruptcy. Below are the common reasons why people chooses Chapter 13 bankruptcy:

  • If a debtor hits and exceeds the Chapter 7 means test maximum, he or she is no longer eligible for a Chapter 7 discharge and the elimination of qualified debt.
  • If a homeowner falls behind on mortgage payments, he or she can catch up in three to five years while keeping the house.
  • Debtors can lawfully suspend creditors’ collection operations such as wage garnishment while also paying back child support, tax bills, and other nondischargeable obligations under the repayment plan.
  • Debtors can file for nonexempt and keep the property that would be possibly sold in Chapter 7.

Call our Bankruptcy Attorney Now!

Chapter 13 is helpful for those who are dealing with debt, but it is also a tough process. Your financial situation is at risk, and you, like everyone else, deserve peace of mind and a new start. Michael D. O’Brien & Associates, P.C. as your bankruptcy lawyer ensures you excellent outcomes. You will be guided from the beginning to the finish of the bankruptcy petition by our team’s traits of reputable and experienced, and affordable legal service.

Aside from bankruptcy, our knowledgeable team also specializes in debt alternatives and estate planning. We are dedicated to offering the greatest solutions for you while also educating you about the entire process. Schedule a free consultation now if you or someone you know requires our legal services.

Our Oregon Attorneys are here to help!
Call Us!


portland bankruptcy attorney logo

What debt problems are you having?


Recent Blogs


Eviction Moratorium Expiry in Oregon
Bankruptcy Attorney in Oregon The dread of foreclosure is one of the most important aspects today due to the eviction moratorium Oregon expiration. Whether you'...
Read More...
Fraud Alert: How to Spot Fake Debt Collectors
Debt collectors get most of their revenue from people who fall hopelessly behind on student loans, medical bills, auto loans, credit cards, and home mortgages. ...
Read More...
Nonexempt Property in Bankruptcy: What You Need to Know
Oftentimes when we hear the word “bankruptcy”, our minds conjure up this image of losing money, being broke, selling all our properties, and having some val...
Read More...
portland bankruptcy attorney

Serving clients in Portland, Tigard, Beaverton, Hillsboro, Lake Oswego, Sherwood, West Linn, Oregon City, Gladstone, Milwaukie, Clackamas, and Gresham.

"We are proud to be a debt relief agency with 2 out of the only 3 nationally-certified consumer bankruptcy attorneys in Oregon! We help people get relief through bankruptcy and non-bankruptcy alternatives."

Stop Garnishment and Repossession! Contact Our Portland Bankruptcy Lawyers Today!



Filing Bankruptcy? Facing Debt Problems? Our Oregon Attorneys are here to help!


What debt problems are you having?

Copyright 2022 Portland Bankruptcy Attorney - All Rights Reserved. Powered by Advantage Attorney Marketing & Cloud Solutions

portland bankruptcy attorney logo

FACING COMPLEX DEBT PROBLEMS?

Whether you're dealing with overwhelming debt, stopping foreclosure or repossession proceedings, or looking for a way to protect your assets, our Portland bankruptcy attorneys are here to help you overcome your financial hurdles!

Please be aware that submission of this no-obligation form does not establish an attorney-client relationship. By filling out the form, you agree to receiving emails from our firm regarding your case evaluation and other helpful resources. 

What debt problems are you having?

Disclaimer:By submitting this form you consent to our privacy policy. If you prefer contact via text you understand that *regular text message rates may apply. The information presented on this site should not be construed as formal legal advice and your submission of this form does not establish a lawyer/client relationship. We are proud to be a debt relief agency who frequently, but not always, helps people get relief through bankruptcy.

portland bankruptcy attorney logo

FACING COMPLEX DEBT PROBLEMS?

Whether you're dealing with overwhelming debt, stopping foreclosure or repossession proceedings, or looking for a way to protect your assets, our Portland bankruptcy attorneys are here to help you overcome your financial hurdles!

Please be aware that submission of this no-obligation form does not establish an attorney-client relationship. By filling out the form, you agree to receiving emails from our firm regarding your case evaluation and other helpful resources.