Bend Bankruptcy Attorney

What Is the Means Test for Bankruptcy?

Before you can file for bankruptcy, you must go through the means test. The means test is a series of questions that determine if you qualify to file for bankruptcy. If you pass the means test, you can file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. If you fail the means test, you can file for bankruptcy under another type of bankruptcy, but you will be required to pay back your debt over time.

The means test is based on your current monthly income and expenses. If your income is below a certain amount and your expenses are below a certain amount, you will pass the means test. If your income is above the means test limit, you will likely fail the means test. If you fail the means test, you can still file for bankruptcy, but you will be required to pay back your debt over time.

How Does Bankruptcy Affect My Credit Score?

Filing for bankruptcy will have an impact on your credit score. While you can expect your credit score to drop, it is important to know that it will not drop indefinitely. After you file for bankruptcy, your credit score will begin to recover over time. Many people who file for bankruptcy are able to rebuild their credit within several years.

At Oregon Fresh Start, we can help you determine if bankruptcy is right for you. Our goal is to help you get a fresh start and get your finances back on track.

How to Calculate Your Debts for Bankruptcy

When filing for bankruptcy, it is important to know how to calculate your debts. To calculate your debts, you will need to add up all of your unsecured debts and all of your secured debts. Unsecured debts are debts that are not secured by collateral. Examples of unsecured debts are credit card debts, medical bills, and utility bills. Secured debts are debts that are secured by collateral. Examples of secured debts are car loans and mortgages.

To calculate your unsecured debts, you will need to add up all of your credit card debts, medical bills, and utility bills. To calculate your secured debts, you will need to add up all of your car loans and mortgages. Once you have calculated your debts, you will need to subtract any payments that you have made on your debts from the original amount of your debts. The remaining amount is the amount of debt that you will list on your bankruptcy forms.

Once you have calculated your debts, you will need to subtract any payments that you have made on your debts from the original amount of your debts. The remaining amount is the amount of debt that you will list on your bankruptcy forms.

What Is the Difference Between a Chapter 7 & Chapter 13 Bankruptcy?

When deciding whether to file for bankruptcy, you will need to decide between a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. Both types of bankruptcy are effective in helping you get a fresh start, but they are designed to serve different purposes. Chapter 7 bankruptcy is designed to help you get rid of unsecured debts, such as credit cards. Chapter 13 bankruptcy is designed to help you get rid of unsecured debts and keep your house or car. If you have unsecured debts and you own a house or car, you will need to file for Chapter 13 bankruptcy.