Is your paycheck in danger of being garnished due to outstanding debt? Chapter 7 and Chapter 13 bankruptcy can help stop wage garnishment and creditor collection actions. Attorney Ted Troutman has been helping clients achieve peace of mind and move forward in a positive direction for more than 30 years. Learn how our Portland, OR, law firm can stop a wage garnishment.
Those who struggle each month to make student loan payments are in good company. Outstanding debts from student loans in the U.S. currently total about $1.5 trillion and an estimated 40 percent of all student loans will be in default by the year 2023. Regardless of how debilitating these payments may be, however, student loans are difficult to have discharged through bankruptcy.
Debtors planning to file for bankruptcy in Oregon will need to complete a means test. Its purpose is to determine whether you are eligible to file for Chapter 7 or Chapter 13 bankruptcy.
A discharge of debts can give debtors in the Portland, OR, area a fresh start financially. Attorney Ted Troutman has spent more than 30 years practicing bankruptcy and business law, and can help guide you through the process.
Debt consolidation is a way for those with many debts to combine them into a single monthly payment, either with or without declaring bankruptcy. Attorney Ted Troutman of Troutman Law Firm, P.C., in Portland, OR, is a member of the American Bankruptcy Institute and the Oregon State Bar.
Typically, the Chapter 7 bankruptcy timeline lasts anywhere from four to six months, but will ultimately depend upon the unique details of your case and the presence or absence of assets. If you are considering filing for Chapter 7 bankruptcy, there are several steps involved both prior to filing and once filing is complete.