Bankruptcy has long been viewed as the ultimate financial failure, and many people believe that it’s a one-way ticket to a bleak financial future. However, this couldn’t be further from the truth. Bankruptcy provides a fresh start, a chance to eliminate debt, and even an opportunity to rebuild your finances.  In this blog post, we’ll share the inspiring story of Chris, a client who was able to buy a commercial property just a few years after filing for bankruptcy. We hope his story will help you understand how bankruptcy can be a stepping stone towards a brighter financial future. Chris’s ..read more

Bankruptcy is often associated with losing everything, including your hard-earned retirement savings. But contrary to popular belief, filing for bankruptcy doesn’t necessarily mean that you have to surrender all your retirement accounts. There are ways of protecting your retirement accounts from creditors during bankruptcy. In this blog post, we’ll discuss different types of retirement accounts, what counts as a qualified account, and how you can safeguard your retirement savings. The Two Types of Retirement Accounts When it comes to retirement accounts, there are two types: qualified and non ..read more

When dealing with a medical crisis, the last thing you want to worry about is the financial burden that comes with it. Unfortunately, medical bills can stack up quickly, and it is not uncommon for individuals to find themselves drowning in debt. This was the case for my client Susie. She felt overwhelmed, and her creditors were hounding her relentlessly, leading her to a dark place where she even attempted suicide. In this blog post, I will share how Susie found hope and relief through Chapter Seven bankruptcy and how it could help you, too. What Is Chapter 7 Bankruptcy? Chapter Seven bankrupt ..read more

Are you considering bankruptcy but wondering how it might affect your family business? If so, you’re not alone. Many small business owners find themselves in a position where they need to file for bankruptcy but are worried about the impact it will have on their company. In this blog post, we’ll explore how filing for bankruptcy can affect your family business and provide helpful information to ease your worries. Membership or Shares in the Family Business When you file for bankruptcy, the first thing that is considered is your assets. It’s important to note that your LLC or corporation must o ..read more

Are you one of those people who are overwhelmed by debt and are contemplating filing for bankruptcy? If so, this post is for you. Filing for bankruptcy might seem complicated, but it doesn’t have to be. To make the process smoother and less stressful for you and your attorney, consider taking a few simple steps. In this post, we’ll discuss what great bankruptcy clients do to help their attorneys assist them effectively. Provide Documents in an Appropriate Format One of the most important things you can do to help your attorney is to provide all the necessary documents in an appropriate format ..read more

Filing for bankruptcy is often looked at as a last resort for people who are in financial trouble. When someone goes down this road, the first thing that comes to mind is their credit score and how it will be affected. But does bankruptcy destroy your credit? If so, for how long? In this blog post, we’ll discuss how bankruptcy affects your credit score and how to rebuild it after filing. How Does Bankruptcy Impact Your Credit Score? Most people who file for bankruptcy already have a low credit score, and bankruptcy will only affect their credit at one point – when the case is filed. It will re ..read more

Struggling with debt can be an extremely overwhelming and disheartening time in one’s life. The constant stress of balancing bills, expenses, and daily needs can leave individuals and families feeling lost and hopeless. This is where bankruptcy can provide a fresh start and a glimmer of hope in an otherwise challenging situation. However, determining whether bankruptcy is the right choice can be daunting and requires careful consideration. This blog aims to guide you through deciding if bankruptcy is right for you and provide the support and resources needed to move forward. As mentioned, bank ..read more

Dealing with the possibility of bankruptcy or actually going through the process can be an extremely overwhelming situation for anyone. It is not uncommon for people to feel lost, anxious, stressed, and ashamed of their financial situation.  At OlsenDaines, we understand how important it is for our clients to not only receive relief from their overwhelming debt but also to protect their hard-earned assets. That’s why we are here to assist you in navigating the complexities of how to protect your assets during bankruptcy. Understanding Bankruptcy and Asset Protection Most people file for b ..read more

Knowing how to protect your assets can be difficult, but an experienced attorney can help. It’s never a great feeling when you’re falling behind on your mortgage or car payments. You start to feel like you’ll never catch up or get back on track. It can be an incredibly stressful situation, especially if you’re relying on that car to get to work or don’t want to lose your home. Luckily, you have options. Filing for bankruptcy can be a great solution for protecting your assets and giving you the breathing room you need to get back on your feet. In this post, we’ll go over what happens when you’r ..read more

As most people dealing with debt know, there are many different kinds of debt and some types are more difficult to eliminate in bankruptcy than others. Student loan debt is one such debt that’s not automatically discharged in bankruptcy proceedings. Unfortunately, this fact has led many people to believe that student loans can’t be discharged at all. Many borrower can discharge student loan debt through bankruptcy, but it requires additional steps. This post explains how to file an adversary proceeding for student debt bankruptcy in Oregon, and help you decide whether it’s the right move for y ..read more