11855 SW Ridgecrest Dr.,
are two types of Bankruptcies available to consumers
These are very short examples of when to choose a chapter 7 or 13 and they may or may not apply to you. Speak with an attorney and be sure.
A: No. Every debtor is allowed to keep some (usually all) of his or her property up to the exemption limit in Oregon.
AND MANY MORE…
· Net Equity is equal to the Fair Market Value
of the item or property, less any loan outstanding against the item
A: Yes. You may not get the best financing rates at first; however, some lenders view the recently bankrupt as good risks because you cannot file again for 7 years. The bankruptcy will show on your credit report for 10 years. You will need to rebuild your credit to show lenders you have become responsible. It does affect your credit rating; that is why bankruptcy is the last resort when you have money problem.
A: A list of all your creditors and the amount you
owe to each
INITIAL CONSULTATION: FREE
PAYMENT PLANS AVAILABLE
Unsecured Creditor: This creditor loaned your money without taking any security interest against property you own. Typical unsecured debts are MasterCard, Visa, Discover and American Express cards, etc.
Secured Creditor: This creditor has a security interest in a piece of property your own and is quite often created when you purchase the property. Typical secured debts are car loans, house mortgages, store credit cards you used to buy those "big ticket" items like furniture, appliances, or electronics. The most common secured store credit cards are Sears, Levitz, Circuit City, etc.
· Sometimes it is difficult to tell if the debt is secured. Our staff attorneys at Divorce & Family Law Clinic can help you sort this out at your fee initial consultation.
· The sooner you call Divorce & Family Law Clinic, the sooner you can start your new debt free life.
11855 SW Ridgecrest Dr.
Beaverton, Oregon 97008
NOTE: Due to the rules which govern attorneys, NO LEGAL ADVICE will be given over the phone or Internet. You must schedule an appointment to talk with our staff attorney to obtain legal advice. © Divorce & Family Law Clinic, Copyright 1998-2004