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Drowning in Debt? Chapter 7 Bankruptcy Can Provide a Buoy and a Fresh Start

CHAPTER 7 BANKRUPTCY OKLAHOMAChapter 7 is the most common type of bankruptcy filed in the U.S. and the type that most people are familiar with. Chapter 7 is the type of bankruptcy is where the majority of Americans turn to for quick and easy debt elimination and a fresh start!

The most common reasons for Chapter 7 Bankruptcy are loss of income due to unemployment or loss of hours, catostrophic medical expenses, overextended credit, and divorce or separation. Medical bankruptcies, especially, affect two million Americans annually. If you have little or no money after basic expenses are paid, or can't pay those basic expenses at all, it may be time to file a Chapter 7 bankruptcy.

By filing Chapter 7, you can eliminate unsecured debt such as credit card bills, medical debt, utility bills, and personal loans. The process is quick and easy. The only real "hard part" is getting together the necessary documents such as 6 months of paystubs or records, 6 months of bank statement, your most current prior year tax returns and auto titles. Once you file creditors can no longer bother you with phone calls or letters and you could be discharged of all that debt in about 90 days.

Chapter 7 Bankruptcy is a great option for people who possess little investment property or luxury assets. Under Oklahoma Law many things are protected from creditors such as you home and cars, tools of your trade, household belongings, wedding rings, among others. Things that may not be protected or are non-exempt are boats, exensive jewelry collections, etc. Basically, the things that you may refer to as "luxuries". As long as you prove to the court that you can continue to make payments on your mortgage or car loan, you don't need to surrender either one. According to the U.S. Government Bankruptcy Code, debtors are allowed to retain some or all of their property.

We are a licensed Oklahoma City Bankruptcy Attorney and will be ready to help you file for Chapter 7 Bankruptcy. We've helped many clients absolve themselves of debt, and we can do the same for you! Some advantages to filing Chapter 7 Bankruptcy our office inlclude:
• Better understanding of bankruptcy laws
• Help analyzing your debt
• Determining if bankruptcy is the right solution for you
• Assuring your eligibility for Chapter 7
• Reaffirming your secured debts
• Assistance filing all the necessary Chapter 7 forms
Bankruptcy Chapter 7 Process

Chapter 7 Bankruptcy is a fairly simple process.

There are certain guidelines you need to follow before filing Chapter 7. You must have finished an approved credit counseling course within six months of filing. This course is quick, simple and easy. We can even show you how to take this course online.

An experienced Oklahoma bankruptcy attorney who prepares and files your petition will interview and answer any of your questions. A Chapter 7 Bankruptcy usually only requires one trip to the courthouse. After you file, our office gets a notice of what's called a creditors' meeting. An experienced bankruptcy attorney will attend and prepare you for this meeting. At this meeting the trustee asks you questions about your bankruptcy petition.

After your debts are discharged, creditors are not allowed to harass you in order to collect what you owed to them. They cannot legally garnish your wages, empty your bank account, go after your house or other property, repossess your car, cut off your utilities, or stop welfare benefits.

Beyond guiding you through the Chapter 7 process, we will counsel you as to the best course of action. Chapter 7 isn't for everyone, as there are numerous facts to consider. No matter what your situation is, you can always trust us to provide honest legal counsel that helps with your debt.

Don't Let Debt Ruin Your Life. Get your debt absolved with our help.

To schedule a free consultation, please call our office or fill out our Bankruptcy Intake Form after submission, an attorney will contact you to discuss. You may also contact us directly at (405) 445-3020.

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