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I OWE A CAL STATE UNIVERSITY 4,888. I LIVE IN OREGON NOW…IM ONLY 19 AND MY CREDIT IS 77% LOWER THAN THE REST OF THE COUNTRY! CAN I FILE BANKRUPT OR HOWEVER U SPELL THAT. DO YOU RECOMMEND EVEN DOING THAT? HOW LONG UNTIL THAT CLEARS? WILL IT EVER CLEAR FROM MY RECORD, EVEN IF ITS THAT AMOUNT? help…

3 Thoughts on WHAT IS THE MINIMUM AMOUNT YOU HAVE TO OWE TO BE ABLE TO FILE BANKRUPCY IN OREGON?
  1. Reply
    Brandon&Melissa h
    February 6, 2014 at 9:10 am

    Do not do it. You can have that paid off in no time. Trust me and google dave ramsey. He will show you how to manage your money and be set for life. Just trust me on this.

  2. Reply
    PooPooLaTrash
    February 6, 2014 at 9:47 am

    If the money you owe Cal State originated from student loans, those cannot be discharged in bankruptcy. However you can file a Chapter 13 repayment plan allowing you to repay your debt to the school at a more reasonable monthly amount and without interest and fines accruing.

    There is no minimum amount of debt you may have in order to file. A Chapter 13 generally stays on a credit report for 7 years (in some cases, 10 years) and is a serious derogatory. Until it falls off of your credit report, you may have difficulty securing a mortgage, an auto loan, renting an apartment or even finding employment (more and more businesses are running credit checks as part of preemployment screening and are passing over those with poor credit scores).

    It would be much much better if you could contact the creditor and work out a feasible repayment plan.

  3. Reply
    Gaytheist Buddha
    February 6, 2014 at 10:05 am

    Contact a member of the non-profit National Federation for Credit Counselors http://www.nfcc.org

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