Representing Individuals in Beaverton, Oregon
Welcome to our mini-site! This site gives useful information about bankruptcy in Oregon. To find out more about consumer law and bankruptcy in Oregon, please visit our main website at www.baxterlaw.com.
This information is presented by the Portland bankruptcy attorneys of the Bankruptcy Practice Group of Baxter & Baxter, LLP, a Portland, Oregon consumer litigation law firm, specializing in credit reporting cases, identity theft cases, and unlawful debt collection practices cases.
The Portland, Oregon bankruptcy attorneys of the Bankruptcy Practice Group represent Beaverton and other Oregon consumers in Chapter 7 and Chapter 13 bankruptcies. Consistent with the consumer protection mission of Baxter & Baxter, LLP, the Portland bankruptcy lawyers of Baxter & Baxter, LLP, represent only consumers, and not creditors.
Free Initial Consultation – Stop Debt Collector Calls
Stop Home Foreclosures
The Portland bankruptcy lawyers of the Bankruptcy Practice Group of Baxter & Baxter, LLP represent individuals in Chapter 7 and Chapter 13 bankruptcies. We offer a free initial phone consultation. We can stop collection calls from debt collectors. We can advise consumers whether to file for bankruptcy, and what form of bankruptcy to file. Our rates are competitive, and an uncontested no-asset Chapter 7 bankruptcy can be filed for as little as a $1,250 fee. Significant Changes to the Bankruptcy
Code under the Bankruptcy Abuse Prevention and Consumer Protection Act
of 2005 (BAPCPA): The Presumption of Abuse and Qualification for
Chapter 7 Discharge The Bankruptcy Abuse Prevention and
Consumer Protection Act of 2005 (BAPCPA) represented the most sweeping
change to the Bankruptcy Code since the modern bankruptcy code was enacted
in 1978. It was roundly criticized and opposed by the bench and
bar, consumer advocates, and legal commentators, but a potent lobby
by creditors, led by credit card banks were able to convince the Congress
to enact the significant amendments which were viewed as largely business
friendly changes to the law. Perhaps the most significant change
to the bankruptcy code under BAPCPA was the "Presumption of Abuse."
Under the pre-BAPCPA bankruptcy code, debtors could file for bankruptcy
under Chapter 7 liquidation or total discharge, regardless of their
income level. Under the BAPCPA amendments, debtors had to prove that
they qualified for Chapter 7 bankruptcy. BAPCPA creates a method to
calculate a debtor's income, and compares this figure to the median
income of the debtor's state. If the debtor’s household income falls
below the median income for the state, then the debtor automatically
qualifies to file for Chapter 7 bankruptcy. If the debtor's income is above the
median income amount of the debtor's state, the debtor is subject to
a "means test." The means test works roughly like this: The debtor first calculates the "current
monthly income" comprised of all sources of income for the household.
The debtor's current monthly income is then offset by a set of deductions
specified by the Internal Revenue Service. In general, the allowable
deductions applicable in the means test include:
- Certain specified living
expenses,
- Contributions to care of
nondependent family members,
- Expenses of administering
a Chapter 13 repayment plan,
- Educational expenses up
to $1,500 annually per child,
- Home energy costs,
- A percentage of certain
secured debt,
- Expenses reasonably necessary
health insurance, disability insurance, and health savings account expenses,
- Expenses for protection
from family violence,
- A percentage of all priority
debt, and
- Contributions to tax-exempt
charities.
After the debtor’s income and expenses
are summed, the court or trustee considers whether a "presumption
of abuse" exists. Such a presumption exists if the debtor has
at least $166.67 in current monthly income after the allowed deductions,
the debtor has at least $100 of such income and this sum would be enough
to pay general unsecured creditors more than 25% over five years (i.e.,
they could successfully enter into a Chapter 13 repayment plan).
Absent special circumstances, if the debtor "fails" the means test,
he or she cannot seek Chapter 7 liquidation or total discharge.
Rather, he or she must petition for a repayment plan under Chapter 13.
Call today for a free consultation and speak to a Portland Oregon bankruptcy attorney today!
Call today for a free consultation and speak to a Vancouver WA bankruptcy attorney today!
Information about Bankruptcy in Beaverton, Oregon
To speak with a Portland, Oregon bankruptcy attorney, call Baxter & Baxter, LLP, at (503) 297-9031.
Bankruptcy Resources in Oregon
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Baxter & Baxter, LLP
8835 S.W. Canyon Lane, Suite 130
Portland, Oregon 97225
503.297.9031
503.291.9172
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