Friday, July 2, 2010

How long will my Oregon Bankruptcy last?

Understandably a lot of people are concerned with how long they will be in bankruptcy if they file. For a typical chapter 7 case the answer is about 3-4 months from filing until it is complete and discharged. During that time the debtor needs to do a few important things: 1) complete a financial management course (usually done online), 2) attend a "meeting of creditors" and 3) keep their attorney informed of any and all changes to their situation, address, etc.

If a debtor files a chapter 13 in Oregon the case is open for a much longer period of time because there is a reorganization plan involved. As long as the debtor is making their chapter 13 payments they will receive protection from all of their pre-bankruptcy creditors while in Chapter 13.  Chapter 13's generally last between 3 and 5 years. An experienced Oregon Chapter 13 attorney should be able to tell you before filing how long your plan is likely to last.

For more Oregon and Washington bankruptcy information please visit