If you’re considering filing bankruptcy in Oregon, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

Filing for bankruptcy is a legal process that allows individuals and businesses to seek relief from overwhelming debts when they are unable to repay their creditors. Bankruptcy laws vary by jurisdiction, including the state of Oregon. To determine if you are qualified to file for bankruptcy in Oregon, it’s essential to understand the eligibility criteria and the types of bankruptcy available.

In Oregon, as in the rest of the United States, bankruptcy laws are primarily governed by federal law, specifically the U.S. Bankruptcy Code. However, certain aspects of bankruptcy, such as property exemptions and some procedural rules, may be influenced by Oregon state law. Generally, individuals and businesses who meet specific criteria can file for bankruptcy in Oregon.

Here’s a breakdown of the key qualifications and considerations for bankruptcy filing in Oregon:

1. Type of Bankruptcy: There are several types of bankruptcy available under the U.S. Bankruptcy Code, but the most common for individuals are Chapter 7 and Chapter 13 bankruptcy.
   • Chapter 7 Bankruptcy: This is a liquidation bankruptcy, often referred to as a “fresh start.” To qualify for Chapter 7 bankruptcy in Oregon, you must meet the means test, which compares your income to the median income for your household size in Oregon. If your income is below this threshold, you generally qualify for Chapter 7.
   • Chapter 13 Bankruptcy: This is a reorganization bankruptcy, where you create a repayment plan to pay off your debts over a three to five-year period. To qualify for Chapter 13 bankruptcy, you must have a regular source of income and be able to make payments according to your proposed plan.
2. Residency Requirement: You must be a resident of Oregon or have a domicile, place of business, or property in Oregon to file for bankruptcy in the state. If you are not a resident but have sufficient connections to Oregon, you may still be eligible to file there.
3. Credit Counseling: Before filing for bankruptcy in Oregon, you are required to complete a credit counseling course from an approved agency within 180 days before filing. This course helps you explore alternatives to bankruptcy and understand your financial situation better.
4. Bankruptcy Petition and Forms: Filing for bankruptcy involves completing various forms and documents, including a petition, schedules, and statements. It’s crucial to provide accurate and complete information about your financial situation when submitting these documents.
5. Mandatory Debtor Education: After filing for bankruptcy but before receiving a discharge, you must complete a debtor education course from an approved agency. This course aims to provide you with financial management skills to help you avoid future financial difficulties.
6. Exemptions: Oregon has its own set of bankruptcy exemptions that determine what property you can keep when you file for bankruptcy. Exemptions protect specific types and amounts of property from being used to pay off your creditors. You must choose between Oregon’s state exemptions and the federal bankruptcy exemptions, and the choice can impact which assets you can retain.
7. Eligibility for Chapter 7 Based on Income: To determine your eligibility for Chapter 7 bankruptcy in Oregon, you’ll need to calculate your current monthly income and compare it to the median income for your household size in the state. If your income is below the median, you generally qualify for Chapter 7. If it’s above the median, further analysis is needed to determine eligibility.
8. Means Test: If your income is above the median income for Oregon, you’ll need to complete the means test, which considers your income, expenses, and debt to assess your ability to repay creditors. Passing the means test is necessary to qualify for Chapter 7 bankruptcy.
9. Prior Bankruptcy Discharges: If you’ve previously filed for bankruptcy and received a discharge, there may be waiting periods before you can file for bankruptcy again. These waiting periods vary depending on the type of bankruptcy previously filed and the type you intend to file.

It’s crucial to consult with a qualified bankruptcy attorney in Oregon to assess your specific financial situation, understand your options, and determine whether you qualify for bankruptcy and which chapter is most suitable for your needs. Bankruptcy can have long-term financial and legal consequences, so seeking professional guidance is advisable to make informed decisions regarding your financial future.

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Do You Need a Lawyer to File For Bankruptcy in Oregon?

Filing for bankruptcy in Oregon is a legal process that can be complex and have long-lasting financial consequences. While it is possible to file for bankruptcy without an attorney, hiring a qualified bankruptcy lawyer is highly recommended for several reasons:

1. Expertise and Knowledge: Bankruptcy law is intricate and subject to frequent changes. A qualified bankruptcy attorney has the expertise and knowledge to navigate the complexities of bankruptcy codes, rules, and procedures. They can help you understand your rights, responsibilities, and the various options available to you under both federal and Oregon bankruptcy laws.
2. Individualized Assessment: Every financial situation is unique, and an experienced bankruptcy attorney can provide an individualized assessment of your case. They can evaluate your specific financial circumstances, assets, debts, income, and expenses to determine the most suitable chapter of bankruptcy for your situation, such as Chapter 7 or Chapter 13.
3. Legal Guidance: A bankruptcy attorney can guide you through the entire bankruptcy process, from initial consultation to the final discharge of debts. They can explain the legal implications of your decisions, help you complete required forms accurately, and ensure that all necessary documentation is filed correctly and on time.
4. Protection from Errors and Omissions: Filing for bankruptcy involves extensive paperwork, and even minor errors or omissions in your bankruptcy documents can result in delays, complications, or even the dismissal of your case. An attorney can help you avoid these pitfalls by ensuring that all forms are completed accurately and that you meet all deadlines.
5. Asset Protection: One of the primary concerns in bankruptcy is the protection of your assets. Depending on the type of bankruptcy you file, you may be able to retain certain exempt property. A bankruptcy lawyer can help you understand what property is exempt under Oregon law and federal bankruptcy exemptions and help you maximize your asset protection.
6. Creditor Negotiations: A skilled bankruptcy attorney can negotiate with your creditors on your behalf, potentially reducing the amount of debt you owe or arranging more favorable repayment terms. They can help you develop a repayment plan in Chapter 13 bankruptcy that is feasible based on your income and expenses.
7. Representation in Court: Bankruptcy cases may require you to appear in court for hearings or meetings with creditors. Having an attorney by your side can provide you with confidence and legal representation during these proceedings, ensuring that your interests are protected.
8. Avoiding Pitfalls and Challenges: Bankruptcy can have long-term financial consequences, including its impact on your credit score and future financial decisions. An attorney can advise you on how to avoid common pitfalls, such as incurring new debt or making significant financial transactions before filing for bankruptcy, which can negatively affect your case.
9. Compliance with Legal Requirements: Bankruptcy law has specific requirements and regulations that must be followed. An attorney can help you understand and comply with these requirements to ensure that your bankruptcy case proceeds smoothly.
10. Debt Discharge: Ultimately, the goal of bankruptcy is to obtain a discharge of eligible debts. An attorney can work to maximize the number and types of debts that can be discharged, giving you a fresh financial start.

While it is possible to file for bankruptcy without an attorney, doing so can be risky, time-consuming, and challenging. Mistakes or oversights in your bankruptcy filing can have serious consequences. Moreover, bankruptcy laws are designed to be accessible with or without an attorney, but the guidance and representation of an experienced lawyer can greatly improve your chances of a successful outcome.

Cost to File Chapter 7 Bankruptcy in Oregon

The cost to file for Chapter 7 bankruptcy in Oregon includes various fees associated with the bankruptcy process. It’s essential to understand these fees and their breakdown when considering filing for Chapter 7 bankruptcy in the state. Here’s a breakdown of the main costs involved:

1. Filing Fee: The primary expense is the filing fee that you must pay to the U.S. Bankruptcy Court when you submit your Chapter 7 bankruptcy petition. This fee is subject to change, so it’s essential to check the current fee on the U.S. Courts website or by contacting the local bankruptcy court in Oregon.
2. Credit Counseling Fee: Before you can file for Chapter 7 bankruptcy, you are required to complete a credit counseling course from an approved agency. The cost of this course varies, some agencies offer reduced fees or fee waivers based on your income, so it’s worth exploring your options.
3. Debtor Education Course Fee: After filing for Chapter 7 bankruptcy but before receiving a discharge, you must complete a debtor education course from an approved agency. Similar to the credit counseling fee, the cost of this course varies but is generally in the $28 to $58 range. Some agencies may also offer fee reductions or waivers.
4. Attorney’s Fees: While you can technically file for Chapter 7 bankruptcy without an attorney, many individuals choose to hire a bankruptcy lawyer to guide them through the process and ensure everything is done correctly. Attorney fees can vary widely based on the complexity of your case, the attorney’s experience, and other factors. On average, you might expect to pay between $1,200 and $2,800 for legal representation in a straightforward Chapter 7 case. However, fees may be higher for more complex cases.
5. Miscellaneous Costs: In addition to the above expenses, there may be some miscellaneous costs associated with your bankruptcy, such as notary fees for signing documents, postage costs for mailing required notices, and any costs related to obtaining credit reports or other necessary documentation.

Before proceeding with a Chapter 7 bankruptcy filing in Oregon, it’s advisable to consult with a bankruptcy attorney. An attorney can provide you with a clear understanding of the costs involved in your specific case, help you explore your options, and guide you through the process. Additionally, if you are eligible for a fee waiver or installment plan, an attorney can assist you in seeking the necessary accommodations to make bankruptcy more financially feasible for you.

Cost to File Chapter 11 Bankruptcy in Oregon

Filing for Chapter 11 bankruptcy can be a complex and costly process, and the fees associated with Chapter 11 bankruptcy filings can vary significantly depending on the specifics of your case. Chapter 11 bankruptcy is typically used by businesses, including corporations, partnerships, and some individuals with substantial debts, to reorganize and continue operating while repaying creditors under a court-approved plan. Here’s an overview of the costs involved in filing for Chapter 11 bankruptcy in Oregon:

1. Filing Fee: The primary cost when filing for Chapter 11 bankruptcy is the filing fee paid to the U.S. Bankruptcy Court. This fee is subject to change and may have increased since then. You should check the current fee on the U.S. Courts website or by contacting the local bankruptcy court in Oregon.
2. U.S. Trustee Fees: In a Chapter 11 case, you will also be responsible for paying quarterly fees to the U.S. Trustee Program. These fees are calculated based on the disbursements made under your bankruptcy plan and can be substantial for larger and more complex cases. The U.S. Trustee will determine the specific fees owed in your case.
3. Attorney’s Fees: Chapter 11 bankruptcy cases are highly complex and typically require legal representation by experienced bankruptcy attorneys. Attorney fees can vary widely depending on the complexity of your case, the size of your business, and other factors. In a Chapter 11 case, legal fees can range from tens of thousands of dollars to hundreds of thousands or more. It’s crucial to discuss fees with potential attorneys upfront and understand the billing structure.
4. Professional Fees: In addition to legal representation, you may need to hire other professionals, such as accountants, financial advisors, and appraisers, to assist with the preparation of your bankruptcy case, financial reporting, and the development of a reorganization plan. These professionals typically charge hourly rates or fixed fees based on the scope of their work.
5. Filing and Administrative Costs: Chapter 11 bankruptcy cases involve a significant amount of paperwork and administrative tasks. You may incur costs related to filing motions, preparing financial statements, and complying with various court requirements. These costs can add up over the course of the bankruptcy proceedings.
6. Court-Appointed Professionals: In some cases, the court may appoint professionals, such as a bankruptcy trustee or an examiner, to oversee aspects of the bankruptcy process. The fees for these court-appointed professionals are typically paid from the bankruptcy estate.

Given the complexity of Chapter 11 bankruptcy and the significant financial stakes involved, it is strongly recommended to consult with an experienced bankruptcy attorney in Oregon who specializes in Chapter 11 cases. An attorney can provide you with a clear understanding of the potential costs, help you develop a reorganization plan, and guide you through the intricate process to maximize the chances of a successful outcome for your business.

Cost to File Chapter 13 Bankruptcy in Oregon

The cost to file for Chapter 13 bankruptcy in Oregon includes various fees associated with the bankruptcy process. Chapter 13 bankruptcy is designed for individuals with regular income who want to reorganize their debts and create a manageable repayment plan. Here’s a breakdown of the primary costs involved:

1. Filing Fee: The primary expense when filing for Chapter 13 bankruptcy is the filing fee paid to the U.S. Bankruptcy Court. This fee may have changed, so it’s crucial to check the current fee on the U.S. Courts website or by contacting the local bankruptcy court in Oregon.
2. Attorney’s Fees: While it’s possible to file for Chapter 13 bankruptcy without an attorney, many individuals choose to hire a bankruptcy lawyer to guide them through the process. Attorney fees can vary based on the complexity of your case and your attorney’s experience. On average, you might expect to pay between $2,780 and $4,450 for legal representation in a Chapter 13 case. Some attorneys may offer payment plans to help you cover these costs over time.
3. Credit Counseling Fee: Before filing for Chapter 13 bankruptcy, you must complete a credit counseling course from an approved agency. The cost of this course typically ranges from $28 to $60. Some agencies offer reduced fees or fee waivers based on your income.
4. Debtor Education Course Fee: After filing for Chapter 13 bankruptcy but before receiving a discharge, you must complete a debtor education course from an approved agency. Similar to the credit counseling fee, the cost of this course usually falls in the $30 to $65 range. Fee reductions or waivers may be available.
5. Miscellaneous Costs: There may be other miscellaneous costs associated with your Chapter 13 bankruptcy, such as notary fees for signing documents, postage costs for mailing required notices, and any expenses related to obtaining credit reports or other necessary documentation.
6. Trustee Fees: In a Chapter 13 case, you will make monthly payments to a bankruptcy trustee, who will then distribute the funds to your creditors according to your court-approved repayment plan. The trustee typically charges a fee for their services, which is a percentage of the payments made to creditors. These fees are part of your overall bankruptcy plan.

It’s essential to consider your ability to cover these costs when deciding to file for Chapter 13 bankruptcy. Keep in mind that Chapter 13 allows you to create a structured repayment plan over three to five years, making it more manageable to address your debts over time.

Before proceeding with a Chapter 13 bankruptcy filing in Oregon, it is highly recommended to consult with a bankruptcy attorney. An attorney can provide you with a clear understanding of the costs involved in your specific case, help you develop a repayment plan that fits your budget, and guide you through the legal process to maximize the chances of a successful outcome. Additionally, they can help you explore any available fee waivers or payment options to make bankruptcy more financially feasible for you.

Reliable Bankruptcy Attorneys in Oregon

Below is a list of reputable bankruptcy attorneys in Oregon. They can help you with both personal and business bankruptcy information.

Law Office of Kim Covington
207 E 5th Ave suite 230, Eugene, OR 97401, United States

Butcher Law Office, LLC
116 State Hwy 99 N #101, Eugene, OR 97402, United States

Brian Wheeler Attorney At Law
3939 NE Hancock St #304, Portland, OR 97212, United States

Christopher J. Kane, P.C.
2207 NE Broadway Ste 100, Portland, OR 97232, United States

Michael Shurtleff – Bankruptcy Attorney
3040 Commercial St SE, Salem, OR 97302, United States

Oregon Zip Codes We Proudly Serve:

Portland

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Salem

97301, 97305, 97303, 97302, 97306, 97304

Eugene

97402, 97401, 97405, 97404, 97403, 97408

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