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What Is the Bankruptcy Means Test and Why Does It Matter?

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 bankruptcy.

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What You Need to Know Before Filing a Chapter 7 Bankruptcy

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.

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Do I Lose My Suppliers if I File for Bankruptcy?

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 they go bankrupt, their suppliers and vendors will walk away.

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Will Chapter 13 Get Rid of My Second Mortgage?

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?

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What Is Bankruptcy Discharge?

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.

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Am I Eligible for Chapter 13?

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 payments for the duration of the repayment term, which usually ranges between three to five years.

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Lottery Winnings and Estate Planning

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.

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Bankruptcy Cannot Discharge All Debts

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.

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How Can I Avoid Common Estate Planning Mistakes?

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.

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What Happens if I Die without A Will?

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.

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