Legal Question in Credit and Debt Law in Oregon

In Oregon (like most states), you are bound primarily by terms he cardholder agreement. Thus, the credit card company has no obligation to accept anything less than the minimum monthly payment. If the account is already in default, the agreement probably provides for acceleration, which means you are immediately responsible for the full balance, along with any charges and interest.

If the credit card company will accept less, then you should document that. Either have them put it in writing, or send them your own letter. Keep good records so that you can prove an agreement if you need to do so in the future.

If you are being contacted by a collection agency, its conduct is regulated by the federal Fair Debt Collection Practices Act. The credit card company is regulated by a similar law in Oregon called the Unlawful Debt Collection Practices Act.

Most people will choose not to file bankruptcy over $1000. However, if your total debt picture, including medical bills and other debts, is such that you cannot reasonably expect to pay your debts, bankruptcy may be a good option to consider.

Justin M. Baxter

Baxter & Baxter, LLP

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Portland, Oregon 97225

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Baxter & Baxter, LLP

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Hillsboro, Oregon 97124, USA

(503) 681-9752 (Telephone)

(503) 291-9172 (Facsimile)

Baxter & Baxter, LLP

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Vancouver, Washington 98660

(360) 574-5239 (Telephone)

(360) 326-1613 (Facsimile)

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