How does an Oklahoma City bankruptcy lawyer work with you?
An Oklahoma City bankruptcy lawyer may be able to help make your life a lot less stressful. You need an experienced Oklahoma City bankruptcy lawyer who has worked on many consumer debt consolidation filings in Oklahoma City to direct you through the process.
With the aid of an experienced Oklahoma City bankruptcy lawyer, you may be able to discharge many of your unsecured debts. That means that once your debts are discharged, you are not responsible to pay them and your creditors should not come after you. The discharge operates as a permanent order directed to your creditors that they refrain from taking any form of collection action on your discharged debts including legal action and communications with you, such as telephone calls, letters and personal contacts. This means that after your debts are discharged, your creditors should not try to foreclose, repossess or even talk to you about those debts.
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In a Chapter 7 liquidation case, the court usually grants the discharge about four months after the date your bankruptcy lawyer filed the petition with the clerk. In a Chapter 13, the discharge typically occurs about four years after the date of filing.
Can only unsecured debts be discharged?
Yes. Your bankruptcy lawyer may only help you discharge unsecured debts. Unsecured debts include credit card debts, medical bills and personal and payday loans. Secured debts are not able to be discharged under a Chapter 7 filing. The most common types of non-dischargeable debts are certain types of tax claims, debts for child support or alimony, debts for willful and malicious injuries to person or property, debts to governmental units for fines and penalties, debts for student loans, debts for personal injury caused by the debtor's operation of a motor vehicle while intoxicated and debts for certain condominium or cooperative housing fees.
Depending on your debts, you may qualify to file under a Chapter 13 repayment plan, where there is a broader discharge of debts available. As a general rule, the Chapter 13 debtor is discharged from all debts provided for by the plan except certain long-term obligations such as home mortgage, alimony or child support, student loans, and other exemptions similar to those for a Chapter 7 filing.
What happens if someone objects?
An objection to the debtor's discharge may be filed by a creditor or by the United States Trustee. In Chapter 7 cases, the debtor does not have an absolute right to a discharge. In Chapter 13 cases, the debtor is entitled to a discharge upon completion of all payments under the plan.
Creditors receive a notice shortly after the case is filed that sets forth the deadline for objecting to the discharge. A creditor then must file a complaint in court before the deadline. The filing of a complaint is known as an "adversary proceeding". A Chapter 7 discharge may be denied for specific reasons including the transfer or concealment of property with intent to defraud, destruction or concealment of records, perjury, failure to account for the loss of assets, or a violation of a court order.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.