Can use an asset (home) I intend to surrender as an expense on the means test in Oregon?

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Can use an asset (home) I intend to surrender as an expense on the means test in Oregon?

We are borderline as far as passing the means test, but only because we are using our house payment. We plan to surrender the house which has 2 mortgages. Will they allow this as an expense in Oregon on the means test?

Asked on June 8, 2009 under Bankruptcy Law, Oregon

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

This is not something we can definitively answer herein unfortunately.  Bankruptcy law is quite complicated and there isn't enough here to fully determine it.  It all depends on if there are any federal components, what are the assets and debts you have, etc.

Do not (and I always say this) attempt a bankruptcy on your own.  You need to at least consult with a bankruptcy attorney before you move forward.  Try www.attorneypages.com and check his or her record at the Oregon State Bar.


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