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Monthly Archives: March 2013

Foreclosure Timing in Oregon

Foreclosure Timing in Oregon

by Adam Weiner

In Oregon, banks have traditionally chosen to non-judicially foreclose on homes after a period of default on the mortgage payments (non-judicial foreclosures can be quicker and less costly than judicial foreclosures). There is no law that requires the bank to foreclose within a certain period of time. Indeed sometimes many months or years pass before the bank gets around to beginning the foreclosure process.
 
Mortgages and Bankruptcy

Mortgages and Bankruptcy

by Adam Weiner

When someone files a chapter 7 bankruptcy, all liabilities and assets (including the approximate quick liquidation value of the assets) are included in the bankruptcy petition. The liabilities listed include everything, including non-dischargeable debt (among other things, certain taxes are not dischargeable, student loans are generally non-dischargeable, child/spousal support is not dischargeable).
 
Student Loans and Bankruptcy

Student Loans and Bankruptcy

by Adam Weiner

Student loans are a huge issue for many people. Unfortunately, under current law it is almost impossible to discharge student loans in a bankruptcy case. The general rule is that student loans are not dischargeable unless you can prove an “undue hardship.” Often courts will require that the debtor is essentially mentally and/or physically disabled and unable to earn an income before they will allow a discharge of student loans in a bankruptcy. But if a debtor is disabled, most student loan lenders have an internal procedure (non-bankruptcy) for obtaining a discharge of the student loans.
 
How Much Debt Should a Debtor Have Before Filing a Bankruptcy?

How Much Debt Should a Debtor Have Before Filing a Bankruptcy?

by Adam Weiner

I often get the question of whether or not there is a certain amount of debt that somebody needs to have before they can file a bankruptcy. The answer is that there is no minimum amount of debt that is required to file a bankruptcy.
 
Should a Debtor Ever Pay on Discharged Debt?

Should a Debtor Ever Pay on Discharged Debt?

by Adam Weiner

This morning I received a voice mail message from a former chapter 7 client. She received her discharge in August 2012. In her voicemail, she stated that a collection agency was calling her to collect on a credit card that was part of the bankruptcy. I immediately called the collection agency and explained to them that they are violating federal law by trying to collect on a debt that was discharged in a bankruptcy.
 
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