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

Am I Qualified for Bankruptcy?

Qualifying for bankruptcy in Portland, Oregon, or anywhere else in the United States, depends on various factors and the specific type of bankruptcy you’re considering. Bankruptcy laws are complex and can be subject to change, so it’s crucial to consult with a bankruptcy attorney or a legal expert for up-to-date and tailored advice.

1. Chapter 7 Bankruptcy:Chapter 7 bankruptcy is often referred to as “liquidation” bankruptcy. To qualify for Chapter 7 in Portland, OR, you need to meet certain income requirements established by the means test. The means test compares your average monthly income to the median income in your state for a household of your size. If your income is below the median, you likely qualify for Chapter 7.However, if your income exceeds the median, you may still qualify if you can pass the second part of the means test, which considers your disposable income after accounting for specific allowable expenses. If you cannot pass the means test, you may need to consider Chapter 13 bankruptcy instead.
2. Chapter 13 Bankruptcy:Chapter 13 bankruptcy involves creating a repayment plan to pay off your debts over three to five years. To qualify for Chapter 13, you need to have a regular source of income to make monthly payments under the proposed plan. There are no specific income limits for Chapter 13, but your debts must not exceed certain thresholds. These thresholds may have changed, so it’s essential to check the most current figures.
3. Credit Counseling and Debt Education:Regardless of the type of bankruptcy you’re considering, you must complete credit counseling from an approved agency before filing your petition. After your bankruptcy is approved, you’ll also need to complete a debtor education course. These requirements are in place to ensure that you understand the financial implications of bankruptcy and how to manage your finances better in the future.
4. Residency and Filing Requirements:To file for bankruptcy in Portland, OR, you typically need to be a resident of the state for at least 91 days before filing. Additionally, you must file your bankruptcy petition in the appropriate federal bankruptcy court for the district where you reside.
5. Previous Bankruptcies:If you have previously filed for bankruptcy and received a discharge, there are limitations on how soon you can file again. For example, if you received a Chapter 7 discharge, you must wait eight years from the date of your previous Chapter 7 filing to file another Chapter 7 case. If you received a Chapter 13 discharge, you generally must wait four years from the date of your previous Chapter 7 filing or two years from the date of your previous Chapter 13 filing.
6. Good Faith Filing:Your bankruptcy filing must be made in good faith. If you’ve engaged in fraudulent activity, hidden assets, or attempted to abuse the bankruptcy system, your case may be dismissed, and you could face legal consequences.
7. Bankruptcy Counseling:Before your debts can be discharged, you must complete a course in financial management. This is designed to help you avoid financial problems in the future.
8. Legal Assistance:It’s highly advisable to seek legal assistance when filing for bankruptcy. An experienced bankruptcy attorney can help you navigate the complex process, assess your eligibility, and ensure you meet all the necessary requirements to increase your chances of a successful bankruptcy discharge.

Whether you qualify for bankruptcy in Portland, OR, depends on various factors, including your income, debt levels, residency, and previous bankruptcy history. Bankruptcy laws can be complex and subject to change, so consulting with a knowledgeable bankruptcy attorney is crucial to determine your eligibility and pursue the most suitable bankruptcy option for your financial situation.

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Do You Need a Lawyer to File For Bankruptcy in Portland, OR?

While it is not an absolute requirement to hire a lawyer to file for bankruptcy in Portland, Oregon, or anywhere else in the United States, having legal representation is highly advisable and can significantly benefit your bankruptcy case.

Here are several reasons why you should consider hiring an attorney when filing for bankruptcy:

1. Complexity of Bankruptcy Law: Bankruptcy laws are intricate and can be challenging to navigate without legal expertise. There are various forms, rules, and procedures involved in bankruptcy filings, and making mistakes or omissions can have serious consequences. An experienced bankruptcy attorney understands the nuances of these laws and can guide you through the process to ensure everything is done correctly.
2. Personalized Advice: Every individual’s financial situation is unique, and what works for one person may not be suitable for another. A bankruptcy attorney can assess your specific circumstances and help you determine the most appropriate type of bankruptcy (Chapter 7 or Chapter 13) and create a tailored strategy to maximize the benefits of bankruptcy while minimizing any potential pitfalls.
3. Means Test and Eligibility: The means test is a critical factor in determining your eligibility for Chapter 7 bankruptcy. An attorney can help you complete this test accurately and explore all possible deductions and exemptions that may allow you to qualify. If you don’t pass the means test, they can assist you in exploring alternative options, such as Chapter 13.
4. Protecting Your Assets: Bankruptcy exemptions in Oregon can be complex, and if you attempt to navigate them without legal guidance, you may risk losing valuable assets unnecessarily. An attorney can help you understand which assets can be protected under state and federal exemptions, ensuring that you retain as much property as possible.
5. Creditors’ Actions: If you have creditors pursuing legal actions, such as wage garnishments, lawsuits, or foreclosure, an attorney can help you understand how bankruptcy can halt these actions through the automatic stay, which provides immediate relief upon filing. They can also advise you on how to handle any adversary proceedings initiated by creditors during your bankruptcy case.
6. Paperwork and Documentation: Filing for bankruptcy requires an extensive amount of paperwork, including detailed financial statements, asset valuations, and creditor information. An attorney can help you gather and complete all necessary documentation accurately and efficiently, reducing the risk of delays or complications in your case.
7. Court Representation: If issues or disputes arise during your bankruptcy proceedings, your attorney can represent you in court, negotiate with creditors and the bankruptcy trustee, and advocate for your best interests. This can be particularly valuable if you encounter challenges that require legal resolution.
8. Post-Bankruptcy Planning: Bankruptcy can have a long-term impact on your financial life. An experienced attorney can provide guidance on rebuilding your credit, managing your finances after bankruptcy, and ensuring you have the best chance of a fresh financial start.

Before deciding to file for bankruptcy without legal representation, consider consulting with a bankruptcy attorney for an initial evaluation. Many attorneys offer free or low-cost consultations to help you understand your options and determine if hiring an attorney is the right choice for your specific circumstances. Ultimately, having an experienced bankruptcy attorney on your side can significantly improve your chances of a successful bankruptcy outcome and a fresh financial start.

Cost to File Chapter 7 Bankruptcy in Portland, OR

The cost to file for Chapter 7 bankruptcy in Portland, Oregon, involves several fees and expenses, including court filing fees, attorney fees, and mandatory credit counseling and debtor education costs. The exact costs can vary depending on your unique situation and the complexity of your case. Here’s a breakdown of the typical expenses associated with filing Chapter 7 bankruptcy:

1. Court Filing Fees: The primary cost associated with filing for Chapter 7 bankruptcy is the court filing fee. However, please note that court fees may change over time, so it’s essential to verify the current fee with the U.S. Bankruptcy Court for the District of Oregon or through their official website.
2. Credit Counseling and Debtor Education: Before filing for Chapter 7 bankruptcy, you must complete credit counseling from an approved agency. The cost for this counseling typically ranges from $35 to $60, but fee waivers may be available if you cannot afford it. After filing, you must also complete a debtor education course, which can cost a similar amount.
3. Attorney Fees: While it is possible to file for Chapter 7 bankruptcy without an attorney (pro se), many individuals choose to hire a bankruptcy attorney to navigate the complex legal process and ensure their case is handled correctly. Attorney fees can vary widely based on the complexity of your case and the attorney’s experience. On average, attorney fees for a straightforward Chapter 7 case may range from $1,250 to $2,690. However, these fees can be higher for more complex cases.
4. Credit Report and Miscellaneous Costs: You may also incur minor expenses for obtaining a credit report, postage, and other miscellaneous items related to your bankruptcy filing.
5. Exemption for Low-Income Debtors: If you have a household income below 150% of the federal poverty guidelines, you may qualify for a waiver of the court filing fee or the ability to pay it in installments. You should consult with the court or your attorney to determine if you qualify for this exemption.
6. Waiver of Credit Counseling and Debtor Education Fees: If your income is less than 150% of the poverty guidelines, you may also be eligible for a waiver or reduction of the credit counseling and debtor education fees. Be sure to inquire about this option with the approved counseling agencies.

Before proceeding with a Chapter 7 bankruptcy filing, it’s advisable to consult with a bankruptcy attorney who can provide a more accurate estimate of the total costs based on your specific circumstances. Bankruptcy attorneys can also advise you on fee waivers, payment options, and whether bankruptcy is the right choice for your financial situation. Remember that bankruptcy laws and fees can change, so it’s essential to verify all costs with up-to-date information from the appropriate sources.

Cost to File Chapter 11 Bankruptcy in Portland, OR

Filing for Chapter 11 bankruptcy in Portland, Oregon, involves a complex and often costly process, as it is primarily designed for businesses and individuals with substantial assets and debts. The cost of filing for Chapter 11 bankruptcy can vary significantly depending on the complexity of your case, the size of your business, and the extent of your financial troubles. Here’s a breakdown of some of the key expenses associated with a Chapter 11 bankruptcy filing:

1. Attorney Fees: Chapter 11 bankruptcy cases are highly complex and typically require the expertise of an experienced bankruptcy attorney. Attorney fees for Chapter 11 cases can vary widely based on the size and complexity of your business, as well as the level of legal work required. For businesses, attorney fees can range from tens of thousands to hundreds of thousands of dollars or more. It’s essential to consult with bankruptcy attorneys in Portland, OR, to obtain detailed fee estimates.
2. Filing Fees: The filing fee for a Chapter 11 bankruptcy case in the District of Oregon (which includes Portland) is $1,860. However, please note that filing fees may change over time, so it’s crucial to verify the current fee with the U.S. Bankruptcy Court for the District of Oregon or through their official website.
3. Administrative Expenses: Chapter 11 cases often involve administrative expenses related to the operation of the business during the bankruptcy process. These expenses can include court-appointed professionals, such as accountants or financial advisors, whose fees are typically paid from the company’s assets.
4. Creditors’ Committee Expenses: In some Chapter 11 cases, a creditors’ committee may be appointed to represent the interests of unsecured creditors. The expenses associated with the creditors’ committee, such as legal and accounting fees, may also be borne by the business.
5. Operating Costs: While your business is in Chapter 11 bankruptcy, you’ll need to cover ongoing operational expenses, including payroll, rent, utilities, and other essential costs. These expenses can add up during the bankruptcy process.
6. Plan Confirmation Costs: Developing and confirming a Chapter 11 reorganization plan can be a lengthy and expensive process. You may need to hire experts to assist in creating a viable plan that can gain approval from creditors and the court.
7. Mandatory Credit Counseling: Similar to other bankruptcy chapters, individuals or business owners filing for Chapter 11 bankruptcy may be required to complete credit counseling before their case can proceed.

It’s important to note that Chapter 11 bankruptcy is a complex and expensive process primarily designed for businesses or individuals with substantial assets and debts. While the costs can be significant, Chapter 11 allows for the reorganization and potential preservation of a business, making it a valuable option for entities facing financial distress.

Cost to File Chapter 13 Bankruptcy in Portland, OR

Filing for Chapter 13 bankruptcy in Portland, Oregon, involves several fees and expenses, including court filing fees, attorney fees, credit counseling costs, and trustee fees. Chapter 13 bankruptcy is designed for individuals with a regular source of income who want to restructure their debts and create a manageable repayment plan. Here’s a breakdown of the typical expenses associated with filing Chapter 13 bankruptcy:

1. Court Filing Fees: The primary cost associated with filing for Chapter 13 bankruptcy is the court filing fee. Please note that court fees may change over time, so it’s essential to verify the current fee with the U.S. Bankruptcy Court for the District of Oregon or through their official website.
2. Attorney Fees: While it is possible to file for Chapter 13 bankruptcy without an attorney (pro se), many individuals choose to hire a bankruptcy attorney to navigate the process successfully. Attorney fees for Chapter 13 cases can vary depending on the complexity of your case and the attorney’s experience. On average, attorney fees for a straightforward Chapter 13 case may range from $2,320 to $4,340 or more. These fees often include legal representation throughout the repayment plan period, which can span three to five years.
3. Credit Counseling and Debtor Education: Before filing for Chapter 13 bankruptcy, you must complete credit counseling from an approved agency. The cost for this counseling typically ranges from $30 to $60. After filing, you’ll also need to complete a debtor education course, which can cost a similar amount.
4. Trustee Fees: In a Chapter 13 case, a bankruptcy trustee is appointed to oversee your repayment plan and disburse payments to creditors. The trustee is entitled to a fee, which is typically a percentage of the total amount distributed to creditors through your plan. This fee is included in your monthly plan payments.
5. Miscellaneous Costs: You may incur minor expenses for document copies, postage, and other miscellaneous items related to your bankruptcy filing.
6. Plan Payments: Under Chapter 13, you’ll need to make monthly plan payments to the trustee, who will distribute the funds to your creditors according to your court-approved repayment plan. The amount of your plan payments depends on your income, expenses, and the terms of your plan.
7. Modification or Conversion Costs: If you need to modify your Chapter 13 plan or convert it to a Chapter 7 case due to a change in circumstances, additional costs may arise.
8. Post-Bankruptcy Counseling: After completing your Chapter 13 plan, you must undergo a post-bankruptcy counseling course, which typically incurs a small fee.

Before proceeding with a Chapter 13 bankruptcy filing in Portland, OR, consult with a bankruptcy attorney for an initial evaluation. An attorney can provide a more accurate estimate of the total costs based on your specific circumstances, help you understand your payment plan obligations, and guide you through the process to ensure a successful repayment and discharge. Additionally, bankruptcy laws and fees can change, so it’s essential to verify all costs with up-to-date information from the appropriate sources.

Reliable Bankruptcy Attorneys in Portland, OR

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

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

Law Offices of Adam M. Weiner
8624 SE 13th Ave, Portland, OR 97202, United States

Jim Choi Bankruptcy Attorney – Portland
16323 SE Stark St #3, Portland, OR 97233, United States

Kelly D. Jones
819 SE Morrison St #255, Portland, OR 97214, United States

Portland, OR Zip Codes We Proudly Serve:

97034, 97035, 97080, 97086, 97201, 97202, 97203, 97204, 97205, 97206, 97208, 97209, 97210, 97211, 97212, 97213, 97214, 97215, 97216, 97217

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