When you are deciding to file bankruptcy in Oregon, you must first decide which chapter of bankruptcy law to file under. Chapter 7 generally dispatches all debt, but requires a full liquidation of assets. Chapter 13 allows you to protect assets such as an income producing business and your home, but requires you to repay delinquent debt over a schedule of 3-5 years. During that time frame, you cannot be pursued by collectors and you must stay current with new charges.
Once you have decided which course to pursue, you must meet with a certified debt counselor in accordance with federal law. This consultation must take place within 180 days of your personal filing of a bankruptcy petition. This can be done over the phone from any court authorized credit counselors. You can use one such as Money Management International.
After completing the required credit counseling review, we suggest you consult with a qualified local bankruptcy law firm for assistance in properly preparing your petition and schedules, as well as associated documents correctly. Use our website to obtain a free oregon bankruptcy consultation from one of our partner law firms in the Portland area.