The Law Office of Kim Covington - Eugene, OR

Do you really need a bankruptcy lawyer?

If you're on this site, then you are considering bankruptcy. This means, by default, you may be uncomfortable with adding the cost of an attorney to the financial, emotional, and even spiritual cost of declaring insolvency.
However, a good bankruptcy attorney's purpose is to ease the pain, ease the stress, and help you navigate this troubling time in the easiest manner possible.

It begins with the exhaustive process of assessing your debts. After that, you must pass a Means Test to determine your eligibility for different chapters of bankruptcy. You will need advice and help with the decision to declare Chapter 7 or Chapter 13 bankruptcy. You must successfully navigate a 341 meeting with your creditors. Finally, you must appear before the court-appointed trustee, for bankruptcy hearing.
An attorney's job is to make these steps easier and less stressful.

The Assessment

Before you declare bankruptcy, you must make a serious assessment of your debts and income. This includes measuring all your assets-your home, a business, etc. A good bankruptcy lawyer can help you sift through the paperwork, the never-ending and stressful mounds of threatening information, to give you an accurate picture of where you might stand before an Oregon bankruptcy court.

The Means Test

Taking a Means Test is a requirement for declaring bankruptcy. It is a sometimes complex process requiring a total understanding of both bankruptcy law and your personal financial state. Not just any lawyer will do in this case. You need a bankruptcy lawyer that is prepared to submit the Means Test properly.

Chapter 7, Chapter 13

What's the difference between Chapter 7 and Chapter 13 bankruptcy? Why should you choose one or the other?
Essentially, Chapter 13 is a wage-earner bankruptcy case with monthly payments. Chapter 13 allows you to keep property assets that may have non-exempt value, including a home or auto, and sets you up on a structured payment plan.

Chapter 7 involves complete liquidation of all your assets. In Chapter 7 you are entitled to keep your home and auto, up to the maximum exemption values on each. Whichever path you choose, a lawyer is essential in getting your bankruptcy done right.

Meeting with Creditors

The presence of an attorney is both comforting and nearly essential during the 341 meeting with your creditors, a requirement for bankruptcy. Meet your legal requirement to accurately present your financial picture to the case trustee, and make sure your attorney is there to help.
Legal Help

It doesn't matter what state you are in financially; if you wish to declare bankruptcy, you need a compassionate, highly experienced bankruptcy lawyer every step of the way.