Portland Legal Services - Joanne Reisman, Attorney at Law
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Bankruptcy

Tax Refunds and Bankruptcy - updated 2016

Tax time is here again and this is also the time of year that people struggling with debt consider bankruptcy.  It is important to understand the interrelationship between taxes and Bankruptcy.

First, filing and collecting your tax refund can give you the money you need to hire an attorney to file your bankruptcy.  So consider this if you are plagued with debts before you spend your refund check.

Second, if you are thinking about filing bankruptcy, it is usually best to have already filed your taxes and collected any tax refunds due to you before you file.

Scam Calls and Emails - how to avoid being a Victim!!

To avoid becoming a scam victimregard any call or email that asks any personal, business or financial  information including a request to verify information as a possible scam!

Any legitimate callers or emailers will be willing to assist you in verifying that their calls or emails are legitimate.  If they are pushy,  anxious, evasive, or demanding when you ask questions or don't want to help you verify their identity or business legitimacy - they are scammers!

Here are the steps you need to take right from the start.

More options for Oregon Debtors: Oregonians can now elect to use Federal Exemptions When Filing Bankruptcy

Some really good news for Oregon Debtors facing bankruptcy.  Governor Kitzhaber has signed SB396 into law and Oregon debtors now have the opportunity to elect federal exemptions or Oregon exemptions when filing bankruptcy.  SB396 reversed the 30 year ban on use of federal exemptions in Oregon bankruptcy cases.  The bill can be used in all bankruptcy cases filed after July 1, 2013. 

In addition, there has been added to the already existing Oregon exemptions a new exemption for Health Savings Accounts in an unlimited amount.

Bankruptcy and Tax Refunds

As 2011 draws to a close some of you are still stunned by the lack of recovery of our economy.  Maybe you finally found a new job but it's for lower pay or less hours.  You remain buried in debt.  This might be a good time to consider getting rid of the debt that piled up during a long period of unemployment or during an extended illness or other calamity that put you behind. 

There are limits to the amount of income you can earn and still completely discharge your debt in a chapter 7 bankruptcy so filing when your income is still relatively low may be your best chance to wipe out debt for a fresh start.
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