For many individuals and businesses, bankruptcy eventually becomes the only option to remain afloat. Although bankruptcy seems like a viable solution for anyone in debt, the truth is that it cannot solve everyone’s problems. It cannot clear...
Estate planning in Oregon is a must to ensure your assets are handled correctly when you die. It’s just as important to steer clear of common estate planning mistakes, as some errors could land you in probate court. U.S. News & World...
Estate plans are an essential financial tool that protects your assets as well as your family after you’re gone. Unfortunately, many people fail to implement wills and trusts before they die, which can have dire consequences. Business Insider...
Most debts get written off—discharged—in bankruptcy. The only ones that aren’t are specifically listed in the Bankruptcy Code. Debts Covered by the Discharge The basic rule is that all your debts get discharged in bankruptcy...
While having a solid estate plan in place is crucial, it’s also important that you revisit these documents on a regular basis. Life changes can have a real impact on wills and trusts, and you want to make sure the decisions you made in the...
According to data from the Consumer Bankruptcy Project, the highest rates of bankruptcy in 1991 were among people between the ages of 25 and 44. In 2001, the highest rates were among those between 35 and 54 — the same group. Between 2013 and...
It can be unnerving to receive almost constant creditor calls if you are behind on your bills and have maxed out your credit lines. This predicament is even more frustrating if you are trying to pay bills as you can, but still, do not see an end to...
Filing bankruptcy mostly does not affect the collection of child or spousal support against you—except it can help in one very important way. Support Obligations Mostly Not Affected by Bankruptcy 1. No Discharge (“Write-Off”) of...
Here are 5 more facts to help clear up the many misconceptions about how bankruptcy affects income tax debts. In our last blog post we’ll give you our first 5 crucial facts about income taxes in bankruptcy. Here are the rest of them. 6. a...
For some Oregon business owners, bankruptcy may be the only option to save their companies from falling into a financial abyss. However, because the word bankruptcy carries a stigma of financial failure, some entrepreneurs may fear that as soon as...
If your Oregon home has both a first and second mortgage on it and you fear the possibility of foreclosure due to the financial difficulties you have recently encountered, you may want to consider filing Chapter 13 bankruptcy. Why? Because Chapter...
Bankruptcy discharge is the process of having your debt forgiven after filing for chapter 7. At this point, it is no longer permissible for creditors to contact you in order to recoup a debt, which can be a great relief to the filer. The Balance...
As a debt repayment plan, chapter 13 allows you to keep your home and other possessions while discharging many types of debt. You must meet certain criteria to be eligible for chapter 13, as it’s crucial that you’re able to keep up with...
Some people play the lottery for years, hoping to finally score big and see their lives change immediately. Most are not ever able to realize these dreams, but some become wealthy overnight, and this can change their life in many ways. With newfound...
Here at Christopher J. Kane, PC, we often get asked about how to qualify for a Chapter 7 bankruptcy requirements in Oregon. There is more than one type of bankruptcy you qualify for. Each case depends on your situation, assets and ability to repay....
If you wish to file for Chapter 7 bankruptcy in Oregon, you will first need to pass the means test. According to NerdWallet, the bankruptcy courts designed the means test to limit the number of debtors who could discharge their debts via Chapter 7...
When you think about an estate in Oregon, you probably think of the assets of someone with a lot of money. You may think of someone older as well. The reality is that estate planning is not just for the really wealthy or older adults. It is...
For many families and individuals in Oregon, bankruptcy is seen as a relief from immense pressure and a way to get a fresh financial start. The weight of smothering debt and constant contact from creditors can become overwhelming and bankruptcy...
Daily life can be very hectic for a lot of people, whether their job consumes much of their time (and brings a considerable amount of stress) or they are working through other difficult issues, such as marital problems, depression, etc. Moreover,...
Sears is an example of a company saved by a bankruptcy, an action that enabled it to keep its remaining retail stores open, including 17 locations in Oregon. A federal bankruptcy judge authorized the struggling retailer to sell its remaining assets...