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Are Debt Buyers Responsible For Driving Consumers Into Bankruptcy?
I recently came across an interesting article challenging the conventional wisdom about why people file for bankruptcy. Most people, myself included, have long concluded that the amount of debt a person has, combined with unfortunate personal circumstances (divorce, job loss,…
Building Credit
I hear it all the time in my practice. People say they want to “build their credit.” Every time I hear this phrase I cringe. It’s held up like a badge of honor, building credit or having good credit. “I…
Why Hire a Bankruptcy Attorney?
Filing bankruptcy can be one of the most difficult choices a person makes. Often you have been struggling to meet your financial obligations. Something happens and the house of cards comes tumbling down, leaving you faced with a proposition that…
Supreme Court Rules That Inherited IRAs Not Exempt
In a defeat for debtors in bankruptcy, the Supreme Court ruled yesterday that a debtor filing for bankruptcy cannot claim an exemption in an inherited IRA as “retirement funds” under 11 U.S.C. §§522(b)(3)(C) and (d)(12). This case resolved a circuit…
Older Vehicle Deduction No Longer Available For Above-Median Chapter 13 Debtors
The Ninth Circuit Bankruptcy Appellate Panel issued an opinion (In re Luedtke) last month holding that “above-median” Chapter 13 debtors may no longer claim a $200 “older vehicle operating expense” when calculating “disposable monthly income” for purposes of determining a…
Divorce and Bankruptcy – More Strange "Bedfellows"
Last month, I posted an article entitled Inheritances and Bankruptcy – Strange “Bedfellows” outlining the odd intersection between inheritances and bankruptcy. This month I want to discuss the how bankruptcy and divorce can interrelate. Most people know that financial stress…
U.S. Trustee Audits to Resume
As recently reported in the Wall Street Journal, the U.S. Trustee recently announced a resumption of audits of consumer bankruptcy cases to start March 10. Those audits had been suspended due to budgetary constraints. Under federal law, the U.S. Trustee…
Using Bankruptcy to Reinstate a Suspended Driver's License
Under certain circumstances, the filing of a bankruptcy case can help reinstate a suspended driver’s license. Oregon law provides that a driver’s license can be suspended for a variety of reasons. The types of suspensions relevant to this discussion include…
Voiding Judgment Liens in Bankruptcy
Under Oregon law (ORS 18.150), a judgment entered or registered in the county where the debtor owns real property generally becomes a lien against that property. Theoretically, a lien creditor may have the right to foreclose on the lien in…
Be Careful When Loaning Money to Someone You Meet on Match.Com!
A recent opinion (Murray v. Hanley) from Judge Dunn of the Oregon Bankruptcy Court is a good illustration of why it may not be a good idea to loan substantial amounts of money to someone you meet online. In that…