Chapter 7

Medford Chapter 7 Bankruptcy Attorney

Serving Klamath Falls & Medford When You Need a Fresh Start

When an individual or business is insolvent, or unable to pay the debts they owe, they may turn to bankruptcy for a fresh start. Chapter 7 bankruptcy, sometimes called liquidation bankruptcy, is one of the most common types of bankruptcy and is widely used by individuals, married couples, and businesses.

Before petitioning for Chapter 7 bankruptcy, it is important to understand the benefits and risks. The knowledgeable and professional Chapter 7 bankruptcy lawyer in Medford at our firm works primarily in this area and knows what to expect.

We help clients meet requirements and overcome obstacles at every stage of the process, from the initial determination of their eligibility for Chapter 7 all the way to the discharge from indebtedness that wipes the slate clean.

Is Chapter 7 Right for You?

Chapter 7 bankruptcy can be a solution for those with few other options. It blocks creditors from trying to collect, while a trustee sells off the debtor's property to repay creditors to the extent possible.

Debtors are allowed to keep exempt property, which can include:

  • Equity in a home
  • A pension
  • A car
  • And other possessions

Because each state has its own rules, and because there is also a federal list of exemptions, it's important to consult an attorney about which assets will be liquidated.

Debtors emerge from this process debt-free unless they have certain debts that cannot be erased by Chapter 7 such as:

  • Child support
  • Student loans
  • Some tax debts
  • And lawsuit liabilities

Our firm confidentially reviews these issues with clients to ensure that Chapter 7 is the right choice.

Qualifying for Chapter 7

The Means Test

Before seeking protection under Chapter 7, debtors must be able to show that they received credit counseling from a government-approved credit counseling agency. Next, they must demonstrate that they can pass what is called the means test.

This is a two-step process that determines whether or not the debtor is eligible for this type of bankruptcy. First, they must demonstrate that their household income is below their state’s median. Second, if their income exceeds the state median, they must demonstrate that their disposable income is below the amount set by their state law.

They can then file a voluntary petition, along with detailed financial disclosure, with the bankruptcy court. This filing leads to an automatic stay, blocking most collection activity by creditors.

A trustee is assigned to review the information and, within a few weeks, there is a meeting of creditors, at which the debtor, under oath, must answer questions from the trustee and creditors. If all goes well, the debtor will receive a discharge from indebtedness. Strategic advice and technical assistance from a skilled attorney will prove invaluable at every step.

Call Oakes Law Office, P.C. today at (541) 204-2037 to schedule a consultation with a Medford chapter 7 lawyer.

How We Can Help

At our firm, we take pride in our familiarity with the requirements and nuances of all aspects of Chapter 7 bankruptcy filings. We've helped clients weigh the advantages of a fresh start against the harm to their credit rating and future borrowing ability.

We’ve also helped clients decide between Chapter 7 and other forms of bankruptcy. We assist with:

  • Voluntary petitions
  • Schedules of exempt property
  • Disclosure of income and expenses
  • Secured and unsecured claims
  • Creditor lists
  • Statement of financial affairs
  • Meeting with creditors

Individuals and businesses facing insolvency need sympathetic, effective bankruptcy law help and advocacy. Our firm provides the highest level of bankruptcy law representation to those in search of a way forward.

If you would like to find out whether a bankruptcy filing could help you, contact our team of skilled Medford Chapter 7 bankruptcy attorneys for an in-depth, confidential consultation.

Frequently Asked Question Guide

Clients Share Their Experience

  • “Karen Oakes was a Godsend. She and her staff treated me with the utmost respect. At a time when my stress level was off the charts, she provided information that felt like a ton of bricks had been lifted from me.”

    - E H.

  • “I was made to feel very comfortable and I left feeling extremely confident. I was very well taken care of. So I hired Karen. She had great client education she was there with me every step of the way.”

    - Jaime P.

  • “A big thank you for all your help! Karen is very professional with a splash of personality and her staff is so helpful. All a delight to work with!”

    - Becky H.

  • “They allowed me to start over and gave me the knowledge to rebuild and helped me forgive myself for the mess I made from being irresponsible with my debt.”

    - Martha G.

  • “She and her staff answered all of my questions without hesitation and guided me through the whole process. If bankruptcy may be a possibility for you, I would highly recommend that you meet with Karen.”

    - Julie C.
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  • American Bankruptcy Institute
  • American Bar Association
  • NACBA
  • Student Loan Law Workshop
  • National Association of Consumer Advocates
  • 1st Lieutenant Bankruptcy Boot Camp
  • Hyatt Legal Plans
  • 2021 Enterprise

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