Since 2005, the requirements for filing bankruptcy in Oregon have become much stricter, according to the Bankruptcy Court of the United States: District of Oregon and the Federal Trade Commission. Whether you wish for Chapter 7 discharge of eligible debts, such as credit cards or medical bills, or pay part of its obligations under Chapter 13. The decision can also have a negative impact on your ability to get credit for seven to 10 years, according to Experian.
You must get credit counseling from a bankruptcy attorney in Salem to present your case for debt relief, according to the Bankruptcy Court of the United States: Oregon District. This requirement, enacted in 2005, should be completed by a credit counseling organization approved at the federal level. Usually, these sessions last about 60 to 90 minutes, according to the Federal Trade Commission.
Bankruptcy is usually not free unless the debtor is seriously insolvent, according to the book “How to File for Chapter 7 bankruptcy." In June 2010, it cost $ 299 to file Chapter 7 in Oregon; Chapter 13 costs $ 274. In some cases, court staff can approve an installment payment plan. You also cannot pay court costs with personal checks or credit cards. You do not have to hire an attorney to file bankruptcy, but you will be in better position if you have a bankruptcy attorney in Salem to represent you.
You can file for bankruptcy without a full list of your assets and liabilities, according to the Bankruptcy Court of the United States: Oregon District. However, you must formally disclose all assets, liabilities, and income in the “zone" within 14 days from the start of the bankruptcy process. Otherwise, it could result in the dismissal of your case. Concealment of assets may be prosecuted as a federal crime of bankruptcy fraud, according to the book “How to File for Chapter 7 bankruptcy."
About 20 to 40 days after the file bankruptcy you must attend a 341 meeting of creditors, according to the Bankruptcy Court of the United States: Oregon District. This meeting gives creditors the opportunity to object to your case if you think you have committed any fraud. However, real objections for bankruptcy during a 341 meeting are relatively rare, according to the book “How to File for Chapter 7 bankruptcy." Debtors who don’t have bad credit, have not used credit cards just before filing bankruptcy, and don’t hide income or assets often leave their 341 meeting without much fuss.