Oklahoma Bankruptcy Lawyers
If you're struggling with burdensome debt, you may feel like you're at the end of your rope. But filing bankruptcy in Oklahoma can give you options. Bankruptcy can even offer you help, protection and relief where other options fail.
Bankruptcy for individuals takes two forms: Chapter 13 and Chapter 7. An Oklahoma bankruptcy lawyer can give you specifics on each, and discuss which might be best for you. In general, though, both are legally protected tools that may help you eliminate your debt.
Both types also can help you deal with a variety of debt, from credit cards to mortgages to payday loans. And, both may protect your property, like your home and car, from repossession and foreclosure.
The decision to file for bankruptcy could be your first step towards a fresh financial start. Speaking with local Oklahoma bankruptcy lawyers will allow you to see the deep difference that bankruptcy could make in your life. You don't have to fight your debt alone.
It's so easy to make the connection that can start you on the road to financial recovery. Simply call toll free at 877-349-1309 or fill out the free case evaluation form on this page and we'll put you in touch with a local Oklahoma bankruptcy lawyer.
Chapter 13 bankruptcy in Oklahoma
In general, a Chapter 13 bankruptcy case will be better than a Chapter 7 in the following circumstances for those who:
- Have tax debts.
- Have nonexempt property they want to keep. For those with a lot of nonexempt property - such as an expensive house, multiple cars or homes. Chapter 13 can protect more property than Chapter 7, which liquidates property not covered by exemptions.
- Have received a prior Chapter 7 discharge. People who have previously been discharged under Chapter 7 are not able to file another Chapter 7 for eight years.
- Want to protect cosigners on their debts. If a spouse or parent cosigned on an auto or other personal loan prior to your filing, a Chapter 7 won't protect your cosigner, and your creditor may go after your family member for the full amount of your debt. If, instead, you file under Chapter 13, your cosigner will be fully protected from your creditors as long as you make your payments under your repayment plan.
- Want to consolidate their student loans. Although you are not able to discharge your student loans in a Chapter 7, you may include them in your Chapter 13 repayment plan and repay them over time.
Chapter 7 bankruptcy may be better for those who have lots of unsecured debt, such as credit card or payday loan debt. They may still protect and keep some if not all of their property when filing Chapter 7. Every state, including Oklahoma, has a list of Chapter 7 bankruptcy exemptions. This is a guide to which and how much of your property is protected and may not be sold to protect settle your debts.
For more information on Oklahoma's bankruptcy laws and how they would apply to you, speak with a bankruptcy lawyer. A local Oklahoma bankruptcy attorney can work with you to determine which option, Chapter 7 or Chapter 13, is best suited to you. Simply call 877-349-1309 or fill out the free case evaluation form on this page and we'll put you in touch with a lawyer near you.
Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.
Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.
