Portland Bankruptcy: Myth Two of an Oregon Bankruptcy
MYTH Two: If you file Chapter 7 in Oregon you will lose all of your property or you must sell all of your property.
FACT: Absolutely not. Whether you live in Portland or Tigard, Beaverton or Aloha you will not have to give up or sell everything you own. The Oregon rules under Bankruptcy allow each Chapter 7 debtor(s) to keep certain amounts of certain types of property. If you have a prized University of Oregon Rose Bowl shirt; that can be protected. If you have an Portland Trailblazers ticket pack; that can be protected. Certain cars and homes with around 40k in equity can be protected. You should talk to a good bankruptcy lawyer in Oregon as the exemptions can be tricky before you file any petition with the Oregon bankruptcy court.
FACT: Absolutely not. Whether you live in Portland or Tigard, Beaverton or Aloha you will not have to give up or sell everything you own. The Oregon rules under Bankruptcy allow each Chapter 7 debtor(s) to keep certain amounts of certain types of property. If you have a prized University of Oregon Rose Bowl shirt; that can be protected. If you have an Portland Trailblazers ticket pack; that can be protected. Certain cars and homes with around 40k in equity can be protected. You should talk to a good bankruptcy lawyer in Oregon as the exemptions can be tricky before you file any petition with the Oregon bankruptcy court.
