How to Prepare for Bankruptcy in Portland, Oregon
Filing for bankruptcy is a serious and complicated matter. Although individuals, unlike corporations, are not required to have an attorney, it is highly recommended by the U.S. Bankruptcy Courts that individuals have representation, because pro se petitions usually do not succeed, according to UScourts.gov. Filing for bankruptcy also has serious financial ramifications, so it is important to talk to a professional to understand the consequences and what alternatives to bankruptcy you may have, if any. Portland is home to one of the two federal bankruptcy courts in the state of Oregon.
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Instructions
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Determine which bankruptcy chapter you want to file under and make sure you are eligible for that chapter. Generally, individuals with assets such as a home file for Chapter 13 bankruptcy, which is a reorganization of debt through a repayment plan. Individuals also may file for Chapter 7 bankruptcy, which is a total liquidation of assets, with some exceptions.
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Research Oregon's state-specific bankruptcy exemptions if you are filing for Chapter 13 bankruptcy. For example, Oregon allows exemptions for real and personal property as well as a portion of your wages.
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Visit the Oregon District Bankruptcy Court website and download Local Bankruptcy Form #100 and the Voluntary Petition for Bankruptcy. Form #100 provides a helpful checklist with detailed instructions for assembling the Voluntary Petition, which is comprised of several Official Bankruptcy Forms and Local Bankruptcy Forms (see Resources). If you do not have regular Internet access, you can pick up copies of these documents at the courthouse.
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File the petition with the court clerk at the courthouse and pay the filing fee. As of December 2010, the fee for a Chapter 7 bankruptcy is $299 and the fee for a Chapter 13 bankruptcy is $274.
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References
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