All items from Oregon Bankruptcy Lawyer

The United States Court of Appeals for the Ninth Circuit has appointed of Portland attorney Peter C. McKittrick as a U.S. Bankruptcy Judge for the District of Oregon. Mr. McKittrick will fill a vacancy left in the wake the retirement of Bankruptcy Judge Elizabeth L. Perris.
Mr. McKittrick is currently a partner with the Portland law firm of McKittrick Leonard, LLP and serves as Chapter 7 bankruptcy trustee in the Portland, Oregon area. As a panel trustee, Mr. McKittrick has administered all manner  of Chapter 7 bankruptcy cases. Moreover, Mr. McKittrick has also served as an appointed receiver, examiner, or trustee in federal and state court actions involving investment fraud cases, real estate management, corporate/shareholder, and
Born in St. Louis, Missouri, Mr. McKittrick received his B.S. from Lewis & Clark College in 1981 and his J.D. from Willamette University College of Law,
graduating cum laude in 1985.  Mr. McKittrick has been a member of the Oregon State Bar Debtor-Creditor Section since 1986 and served on its executive committee from 1995 to 2000. He is an ABI Board-Certified Business Bankruptcy Specialist since 2001 and was recognized as one of the “Top 50 Lawyers in Oregon” from 2009 to 2013.

Posted 2 days 17 hours ago

Often Oregon debtors in a Chapter 13 bankruptcy will hit a rough spot during their case and  request a hardship discharge rather than seek conversion to Chapter 7.  Conversion and hardship discharge are not one in the same. There are specific requirements that must be met before you can even be considered for a hardship discharge. The standards for conversion are often much easier to meet.
In order to obtain a hardship discharge, your Oregon bankruptcy attorney must first file a motion requesting the hardship discharge and outlining specifically as to why you would qualify.  The first step in the analysis is whether or not your Plan has been confirmed. If it has not been confirmed by the Oregon Bankruptcy Court, you are not eligible for hardship discharge.
The Oregon Bankruptcy Court will allow a hardship discharge only if three elements are present:

Posted 5 days 10 hours ago

I often get questions from Oregon consumers about medical bankruptcy but there is no such thing. I think the myth that is out there is that there is some sort of specialized bankruptcy that enables the filer to get rid of medical bills only while keeping the credit cards going.
The fact is that all unsecured debts need to be listed on your schedules; you don’t get to pick who gets listed. Purposefully leaving a creditor off your schedules might get you in trouble with the court as you are signing off under penalty of perjury that you have listed all of your unsecured creditors on your schedules.
If you do have any questions about bankruptcy feel free to give me a call or set an appointment at one of our Oregon Bankruptcy Law Offices in Portland or Salem. I will look forward to hearing from you.
The original post is titled Medical Bankruptcy in Oregon , and it came from Portland Bankruptcy Attorney | Northwest Debt Relief .

Posted 2 weeks 1 day ago

A personal bankruptcy does not have to bar an Oregon consumer from home purchase for very long.  Oregon bankruptcy filers  that went through a Chapter 7 bankruptcy must wait four years from the date of discharge before applying for a conventional loan.
The waiting period, according to Fannie Mae, is just two years from discharge for Chapter 13 bankruptcies. Moreover, the wait for an FHA loan is only two years for Chapter 7 bankruptcy, and one year for Chapter 13 bankruptcy, provided the individual has kept up with payments in the Chapter 13 and has permission from the court. Permission from the Bankruptcy Court in a Chapter 13 is normally fairly easy to obtain. If extenuating circumstances such as  job loss of medical disaster the above guidelines can be shortened.

The original post is titled Oregon Home Purchase After Bankruptcy Filing , and it came from Portland Bankruptcy Attorney | Northwest Debt Relief .

Posted 3 weeks 20 hours ago

Oregon Debtors are often certain that they want to give up their houses in their upcoming Chapter 7 Bankruptcy, but no one likes a mystery when it comes to figuring out how much time they have in the property. The reality is that you will know exactly when you will have to leave, months before the due date for doing so comes up.
Most often, your mortgage lender will file a Motion to Lift the Automatic Stay in the Oregon Bankruptcy Court so that it can begin the process of foreclosure legally. This process usually takes at least a month or two after your bankruptcy case has been filed. Even after the creditor receives relief from the automatic stay from the Oregon Bankruptcy Court, it will take months before the lender is actually able to complete the foreclosure process. There are steps you can take during that process to ensure that you get even more time in the property. These steps should be reviewed with your bankruptcy attorney.
Many lenders will not even file a Motion to Lift Stay during your Chapter 7 Bankruptcy. Often homes are so underwater that there really is no rush on the lenders part to foreclose its interest. The fact is that if you have already left a home and have no interest in returning, it may be safer to file Chapter 13 bankruptcy where, at least for now, you may be able force the lender to take the house back quickly.

Posted 3 weeks 1 day ago

The Oregon Bankruptcy Court’s recent ruling in In Re Watt requires a mortgage holder to accept title to a home surrendered in chapter 13 bankruptcy. Prior to In Re Watt, a borrower could surrender a home in Chapter 13 bankruptcy but wait for months, if not years, on end while the mortgage lender took its time foreclosing on the property. This was a particularly cruel fate for Oregon debtors with ongoing HOA obligations, but really a hardship for just about any Oregon homeowner/Chapter 13 debtor hoping to walk away from a property and really start over.
Oregon consumers who are currently in confirmed Chapter 13 bankruptcy cases should contact their attorneys to determine whether they now have the ability to force their lenders to take back the house.
The original post is titled Oregon Chapter 13 Bankruptcy for Homeowners New and Improved , and it came from Portland Bankruptcy Attorney | Northwest Debt Relief .

Posted 8 weeks 1 day ago

Oregon bankruptcy filers with bottom of the barrel credit scores might find that the quickest and easiest way to increase their credit scores in the wake of a bankruptcy filing is to become an authorized user on a family member’s credit card. As an authorized user, you get the benefits of someone else’s credit but with no legal requirement to pay the actual bills. What’s better than that?
As an authorized user, the credit card’s history will be reported on your report as long as you are related to the account holder. By allowing you to borrow your family member’s clean credit history, your credit score will ramp up quickly after your bankruptcy filing.
Keep in mind that the account holder must be related to the bankruptcy filer for the bankruptcy filer’s bad credit scores to benefit from this strategy. Try to select a family member with the same last name and address. The credit-scoring bureaus might otherwise not take into account your status as an authorized user and your credit score might not improve. The key here is to call the credit card company and make sure that they are reporting your status as an authorized user. You can also check your credit report to see if the account is appearing.

Posted 10 weeks 20 hours ago

When  I meet with Oregon debtors for the first time in our Portland and Salem offices, I cannot help but notice that many of them are concerned that they will not qualify for Chapter 7 Bankruptcy. For many of them, the worry is that they will be forced to pay back all their creditors. They have been told somewhere along the way that Chapter 13 is simply a reorganization of all their debt; that Chapter 13 is simply a mechanism for paying back all their creditors. In fact, nothing could be further from the truth. The fact is many Oregon Chapter 13 Bankruptcy filers end up paying back less to their creditors than Chapter 7 Bankruptcy filers do.
First, Chapter 13 Bankruptcy normally means that you pay back what you can afford to pay back. Let’s say you owe $380,000 and you can afford to pay back $200 per month. At the end of the three year Chapter 13 payback period, you would have repaid $7200. Though you would have only repaid a small fraction of the $380,000, the entire balance would be eliminated.
Second, Chapter 13 Bankruptcy enables you to pay back any IRS, ODR or child support arrears back at zero percent interest over a three to five year period. This feature simply does not exist in Chapter 7 Bankruptcy.

Posted 10 weeks 1 day ago

The federal bankruptcy laws promise a fresh financial start for the honest but unfortunate Oregon debtor.  Any Oregon consumer considering bankruptcy should take care to avoid making any of the following mistakes.
Mistake #1: Incurring Debts Close to Filing Bankruptcy
Some people decide to charge up credit cards or take payday loans just before filing bankruptcy. Big mistake. If you have decided to file bankruptcy in Oregon, take care to avoid incurring additional debts. Taking loans with no intention of repayment on the cusp of filing bankruptcy could result in you not getting the full discharge of all your debts.
Mistake #2: Paying an Insider
The bankruptcy laws attempt to treat creditors fairly. One concern is that the debtor will pay loans back to either friends or family before filing bankruptcy. The thought is letting debtors do so deprives other creditors from receiving their fair share.
Family, business partners, friends and other creditors who have close relationships with the debtor are called insiders. Transfers to insiders can be avoided by the bankruptcy trustee if the transfer occurred within one year before the bankruptcy filing.

Posted 10 weeks 4 days ago

Economists with the National Bureau of Economic Research recently examined a half million bankruptcy filings in the United States in order to evaluate the effect of bankruptcy laws on consumers.
They have confirmed what many consumers in Washington and Oregon have long suspected. Namely that the bankruptcy code is an incredibly effective social insurance policy. Specifically found that confirmation of a Chapter 13 bankruptcy plan increases annual earnings by nearly six thousand dollars a year, decreases five-year mortality by 1.2 percentage points, and decreases five-year foreclosure rates by nearly twenty percent.
The authors found that the removal of the disincentive to work resulting from creditors garnishing worker’s paychecks resulted in workers putting in more hours. Moreover, mortality rates declined because resolution of debt issues significantly reduced stress.  Finally, because chapter 13 bankruptcy stops foreclosure and gives debtors a means by which they can catch up on their mortgages, foreclosures over all declined significantly.
If you live in Oregon or Washington and are coping with the stress of living with a greater debt burden than you can handle, it is time to get help. The upside to filing bankruptcy is almost always greater than you can even imagine. Please feel free to call me or set an appointment at our Portland, Salem or Vancouver offices.

Posted 11 weeks 11 hours ago