Disabled and Can't keep up with the bills

[RWL52]

What is the name of your state?What is the name of your state?What is the name of your state? Oregon

At the age of 50 my Disability went through: There was three years that my doctor said I could not work but I was told I wasn't eligible for disability, my wife works full time and tried to keep all the bills paid. We got behind, well we never was late we had lots of credit cards full I still needed meds, operations and so forth. Now we are trying to refinance our house and that is not looking to good. The only thing left to do is to file for bankruptcy. We only have one auto a jeep and the house. My wife works really hard and says it not fair how the laws seem to protect people with a lot of money. Us with only a little will lose all is there any way we can get back on track with out losing all? thank you for all your help.

[AttorneyOney]

Only an Oregon attorney can give you advice about what you should do. One factor to consider, however, is that most credit-card and medical bills can be discharged in bankruptcy, but a lien on your house (such as will exist when you refinance) will not go away. Refinancing or taking a home-equity loan in order to pay off otherwise dischargeable debts is therefore not often a good idea. I suggest contacting a bankruptcy attorney now, before you put your home further at risk.

[Ladynred]

Most people lose NOTHING in bankruptcy, the exemptions allow you to keep property up to certain limits spelled out in your state laws. The OR exemptions are here:

[url]http://www.bankruptcyaction.com/orexemptions.htm[/url]
These are general and a bankruptcy lawyer would know the full scope of the exemptions.

The homestead exemption in OR is 25,000 for an individual, 33,000 if you file together. The exemptions go to EQUITY.