Portland Chapter 13 Bankruptcy Lawyer

Face Chapter 13 Bankruptcy With an Attorney's Guidance

Creditor harassment, wage garnishments, foreclosure notices, bank levies… Chapter 13 bankruptcy — also called the "wage earner's plan" — can be an effective way to move forward out of a difficult financial situation. The lawyers at David W. Owens, P.C. & Associates can help guide you in the right direction by explaining financial solutions available to you via the bankruptcy process.

About Chapter 13 Bankruptcy

If you are an individual with a regular income, you may qualify for Chapter 13 bankruptcy. Under this form of consumer bankruptcy, you have the opportunity to save your home from foreclosure by catching up on past-due payments through a debt reorganization/repayment plan.

Chapter 13 bankruptcy allows you to propose a repayment plan for your existing creditors. Depending on your personal situation, you may pay off debt in installments of over three to five years. However, if your current monthly income is less than the state median, you may only be allowed three years, unless you gain court approval for a longer payoff period. One benefit of this debt reorganization/repayment plan is that you will make a single monthly payment to a bankruptcy trustee, rather than dealing with your various creditors. The bankruptcy trustee will then disburse payments to creditors in accordance with your court-approved repayment plan.

Is Chapter 13 Bankruptcy Right for Me?

Individuals who qualify under the bankruptcy means test may also want to consider Chapter 7 bankruptcy as a financial option to obtaining debt relief.

Since 1975, we have dedicated our practice to working closely with our clients. We often handle bankruptcy issues by exploring a cost-benefit analysis with our clients. Bankruptcy may be an effective way to save your home and assets, but it also comes with certain costs. We explain those costs and help you consider other solutions that can help you resolve your financial situation.

Contact David W. Owens, P.C. & Associates

To schedule a free and confidential consultation about your Chapter 13 bankruptcy concerns, please call us at 503.766.3042, or contact us by e-mail.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.