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As your local Portland Chapter 13 Bankruptcy Attorneys, we want to see you get back on the road to financial success.
How Does Chapter 13 Bankruptcy Work?
Often through no fault of their own, many people fall behind on secured debt payments, like a home mortgage or a car payment. In some cases, your lender may work with you at first, but the bank will get increasingly aggressive as time goes by. It will start with constant, harassing telephone calls and quickly escalate to threatening letters followed by things like repossession or foreclosure. The banks seem to think that falling behind on your payments was a choice and not something that you had to resort to feed your kids and keep the lights on. Many times, it was the predatory lending practices of the bank that put you in this position in the first place. If you need time to catch up, a reduction in the amount you have to pay each month or forgiveness of certain types of debt, Chapter 13 Bankruptcy may be right for you. When you file for Chapter 13 Bankruptcy, you can get up to 5 years of protection by the US Bankruptcy Court to resolve and get caught up on most secured debt. In most cases, you will repay just a small fraction of what you owe and keep all of your assets.
During the Chapter 13 Bankruptcy repayment period, your lenders must stop all collection activities against you unless they get special permission from the bankruptcy court. So, you can get a monthly payment that fits your budget and peace of mind knowing that your house, car and other assets are safe. After you have successfully completed your Chapter 13 Bankruptcy plan, you get a financial fresh start. Call us today to find out if a Chapter 13 Bankruptcy in Portland is right for you.
Qualifying for Chapter 13 Bankruptcy
This type of bankruptcy is ideal for people who are behind on secured debts yet want to retain the collateral. To take advantage of this program, debtors must meet a few qualifications.
Unsecured Debt Amount – Debtors must have less than $419,275 in credit cards, medical bills, and other unsecured debts. If the debt load is larger, a Chapter 7 bankruptcy may be an option.
Secured Debt Amount – If debtors have more than $1,257,850 in secured debts, they are probably not eligible for bankruptcy Chapter 13. This is because it is very difficult to repay such a large amount in three to five years. Again, Chapter 7 bankruptcy may be a better option.
Prior Discharge – You cannot receive a discharge in a Chapter 13 case if you have received a discharge in a Chapter 7 case filed within the last four years, or received a Chapter 13 discharge in a case filed within the last two years.
Depending on income, the protected repayment period is either three or five years.
Our Bankruptcy Attorneys Overcome Common Obstacles
Our bankruptcy attorney fees are affordable, and we offer an easy payment plan that will work for almost anyone.
We have appointment times that are convenient for you including nights and weekends.
It’s not too late! Our bankruptcy attorneys can work quickly to stop garnishments and foreclosures often in the same day.
Our bankruptcy attorneys work with you using our proven credit repair system. We will help you to improve your credit score and get you back on track to financial success.
Today’s Portland Chapter 13 News
Important information about filing Chapter 13 Bankruptcy in Portland, Oregon.
Get your Chapter 13 Bankruptcy questions answered here
SUCCESS STORIES
I love the people at NW Debt Relief! Bankruptcy is a really stressful situation and to have knowledgeable and friendly people to help you is fantastic! I really want to give a big shout out to Alyssa and Shane for being there through out the whole process! Meagan is also very helpful. Tom and Aaron are great attorneys. I definitely recommend using this firm. They will help you get your life back. Thank you you guys are an amazing team!
I love the people at NW Debt Relief! Bankruptcy is a really stressful situation and to have knowledgeable and friendly people to help you is fantastic! I really want to give a big shout out to Alyssa and Shane for being there through out the whole process!
I really want to give a big shout out to Alyssa and Shane for being there through out the whole process! Meagan is also very helpful. Tom and Aaron are great attorneys. I definitely recommend using this firm. They will help you get your life back. Thank you you guys are an amazing team!
I love the people at NW Debt Relief! Bankruptcy is a really stressful situation and to have knowledgeable and friendly people to help you is fantastic! I really want to give a big shout out to Alyssa and Shane for being there through out the whole process! Meagan is also very helpful.