Representing Individuals in Tigard, 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 Tigard 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. Debunking Myths about why People File
for Bankruptcy A common misperception about bankruptcy
is that people who file for bankruptcy were irresponsible with their
finances, or recklessly incurred debt they could not repay. While
these circumstances certainly are a factor in some bankruptcies, recent
studies and analysis demonstrate that the majority of bankruptcies are
precipitated by causes outside of a person’s control. Leading
causes of bankruptcy are death, divorce, and unemployment. A recent 2009 study by a team of researchers
from the Harvard Law School, Harvard Medical School and Ohio University
is going to be published in the American Journal of Medicine, and reveals
important data about why people file for bankruptcy. "Using a conservative
definition, 62.1 percent of all bankruptcies in 2007 were medical; 92
percent of these medical debtors had medical debts over $5,000, or 10
percent of pretax family income," the researchers wrote.
In addition to bankruptcies directly caused by medical bills, other
considerations outside of a debtor’s control may also result in significant
financial distress and push a person into bankruptcy. These include
increased medical insurance premiums or deductibles. The dramatic stories in the media detail
a grave and gathering threat of massive and widespread job cuts, unemployment,
and underemployment. Jobs that once represented stable and dependable
income streams for families are now on the chopping block. The
most recent figures from the U.S. Bureau of Labor Statistics indicates
that unemployment currently hovers at 9.4%. The most recent figures
for unemployment in Oregon, as reported by the Oregon Employment Department
estimates 12.4%. These figures do not account for underemployment
or wages that fall below a sustainable household budget. A third cause of bankruptcies is predatory
lending practices, including falsely represented mortgage products,
and the rapid unilateral modification of credit terms by some credit
card companies. In many well documented predatory lending cases,
consumers were tricked into entering into mortgages that were substantially
different than the terms to which they agreed. In some cases,
borrowers were presented with new terms at closing and pressured to
sign in order to keep the sale from falling through. In other
cases, outright fraud occurred, and loan documents were forged or altered
after the fact. Many credit card users had their interest
rates unilaterally increased by their lenders. In 2008, credit
scores fell across the board in light of worsening financial conditions.
For example, lenders unilaterally reduced credit lines to limit their
exposure. As a consequence, consumers had a higher proportion
of their credit lines, causing their credit scores to fall. This
started a feedback loop, in which creditors reduced credit limits further
in response to the lower credit score, and then increased the interest
rate as a result. While some people did spend beyond
their means and incur debt obligations which they could not afford to
repay, there is mounting evidence that the majority of bankruptcies
are caused by circumstances outside the debtor’s control. These
include medical bills and expenses, job loss, and unilateral modifications
of debt obligations by creditors. In the current economic crisis,
this is all the more the case.
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 Tigard, Oregon
To speak with a Portland, Oregon bankruptcy attorney, call Baxter & Baxter, LLP, at (503) 297-9031. Directory of Directories, Business Resource - Directorybrowse.com helps you with every information you need with a lots of categories such as insurance, education, money, electronics, news and media, employment and more.
"We are a debt relief agency. We help people file for relief under the Bankruptcy Code."
© 2009 Baxter & Baxter, LLP
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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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