Vanden Bos & Chapman, LLP Oregon Bankruptcy Lawyers Since 1981

Vanden Bos & Chapman, LLP - Bankruptcy Practice Areas

Because bankruptcy is a serious step, Vanden Bos and Chapman limits its representation of debtors to those debtors who truly need bankruptcy relief. We typically do not accept as clients those debtors who have less than $20,000 of debt, because we have found bankruptcy is not the right solution for people with a small amount of debt. If your debt is less than 20,000, we would suggest that you consult with the consumer credit counseling agency or another bankruptcy firm as we are unlikely to take your case. Our expertise is in high debt cases or asset cases, including those cases with assets having significant value such as houses, real estate, or ongoing businesses. We also specialize in those cases with complex issues including litigation, foreclosure, unpaid income taxes or divorce. Vanden Bos & Chapman, LLP is a full service bankruptcy law firm located in Portland, Oregon. The processes and procedures related to bankruptcy law are complicated and require the navigation of a skilled bankruptcy lawyer. Attorneys Vanden Bos and Chapman have built their practice on representing and fighting for the rights of bankruptcy clients in Portland, Oregon, delivering personalized attention to their bankruptcy clients. Vanden Bos & Chapman, LLP is a full service bankruptcy law firm located in Portland, Oregon. The law practice is focused exclusively on bankruptcy matters. In the state of Oregon, as well as other jurisdictions, the processes and procedures related to bankruptcy law are complicated and require the navigation of a skilled bankruptcy lawyer. Attorneys Vanden Bos and Chapman have built their practice on representing and fighting for the rights of bankruptcy clients in Portland, Oregon, delivering personalized attention to their bankruptcy clients by keeping case information detailed and accessible.

With over 45 combined years of bankruptcy experience, Attorneys Vanden Bos & Chapman have the experience and ability to provide legal bankruptcy solutions to the residents of Portland, Oregon, and throughout the entire State of Oregon, related to any of the following matters:

Bankruptcy: Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a claimant files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapters 11, 12, and 13), a claimant files a plan with the bankruptcy court proposing how to repay creditors.

NOTE: As of October 17, 2005, the eligibility requirements for Chapter 7 bankruptcy have changed under the Bankruptcy Abuse Prevention and Consumer Protection Act Debtors are required to seek budget and credit counseling six months prior to filing, financial “testing” is required to determine the debtor’s capacity for debt repayment, Chapter 7 might not be available filed if the household income is greater than the median household income as deemed by the state.

Those persons who do not qualify for Chapter 7, will have to file under Chapter 13 bankruptcy instead, in which individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over a period of three or five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7. For additional information related to bankruptcy, contact bankruptcy Attorneys Vanden Bos & Chapman.

Chapter 7: Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. Under chapter 7, the debtor is allowed to claim certain property exempt. In exchange for this, the debtor gets a discharge, which means that the debtor does not have to pay certain types of debts. For additional information related to bankruptcy, contact bankruptcy Attorneys Vanden Bos & Chapman.

Chapter 13: Chapter 13 permits individuals to keep their property by repaying creditors out of their future income or from tapping into the equity in a house or other property . It is not available to corporations or partnerships. Each chapter 13 debtor proposes a repayment plan that must be approved by the court. After completion of payments under the plan, chapter 13 debtors receive a discharge of most debts. For additional information related to bankruptcy, contact bankruptcy Attorneys Vanden Bos & Chapman.

Foreclosure: Foreclosure is the forced sale of real property assigned as security for a debt that is in default. Foreclosures can be forced by court action (judicial foreclosure), or non-judicial sale by the designated private trustee in the trust deed. Failure to pay the mortgage debt once foreclosure occurs leads to seizure of the security interest and the immediate sale of the property to pay any remaining mortgage debt. For additional information related to bankruptcy, contact bankruptcy Attorneys Vanden Bos & Chapman.

Exemptions: Exemptions, or exempt property, is property that cannot be taken away by a judgment creditor or by a bankruptcy trustee. Exemptions vary from state to state, but most states allow bankruptcy clients to retain items such as clothing, household furnishings, heirlooms (jewelry, etc.), animals (including pets, livestock, and poultry) and other basic items. Most states exempt houses, if it is a homestead. For additional information related to bankruptcy, contact bankruptcy Attorneys Vanden Bos & Chapman.

If you or someone you know in Portland, Oregon, or within the surrounding cities and counties of Oregon needs the assistance of an experienced personal injury lawyer, contact Vanden Bos & Chapman at (866) 798-2917 or via their convenient contact form to schedule a free consultation with an experienced bankruptcy lawyer.