Financial Freedom Bankruptcy Lawyers of Tulsa Oklahoma Bankruptcy Help
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Chapter 7 Bankruptcy and Secured Debt in Oklahoma
Chapter 7 bankruptcy offers much more than a clean slate, especially with unsecured debt. What debtors should consider is what happens to their secure debts. Secure debts are liquidated via selling nonexempt assets to pay the remaining of a debtor’s debt.
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3 Requirements to File Chapter 7 Bankruptcy in Oklahoma
Debtors considering bankruptcy should be aware of the information needed to present a strong case. Bankruptcy courts consider income, expenses, and post-bankruptcy budget to determine if a person qualifies for chapter 7 and 13 bankruptcy.
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What Happens After My Bankruptcy?
The thing to understand is your credit score is based half on your faithful payment and a half on your debt-to-income ratio.
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How to Do a Chapter 7 Bankruptcy
About 30 days out from when you file, you’re going to have something called a 341 creditor meeting. 341 refers to the bankruptcy code section in the United States code, so what it basically is, is a chance for the trustee to make sure that you provided the information, that everything’s true and correct.
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Are You Qualified to File Chapter 7 Bankruptcy?
Currently, you can make up to about $40,000 and still qualify as a single-person household to do a bankruptcy.
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When Do You Need A Lawyer For Bankruptcy In Tulsa?
The U.S. Bankruptcy Court says people need a lawyer for bankruptcy in Tulsa, Oklahoma and beyond. While it is legal to file without an attorney (“pro se”), it is not advisable for many reasons. Read on to learn more about how a lawyer for bankruptcy in Tulsa can help you get back on solid financial… Read More»
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What Documents Do I Need To File Chapter 7 In Tulsa OK?
The U.S. Bankruptcy Code is difficult to understand, so a common question regards what documents are needed to file Chapter 7 in Tulsa OK. The truth is, many documents must be copied in order to file bankruptcy in Oklahoma. Also, a number of forms must be filled out precisely in order for you to qualify… Read More»
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What Types Of Debts Can Be Discharged In Oklahoma Bankruptcy?
A Tulsa, Oklahoma bankruptcy discharges a number of your personal debts, including some you might not have imagined. Read on to learn more about what types of debts can be discharged in Oklahoma bankruptcy. Credit Card Debts Can Be Discharged In Oklahoma Bankruptcy Your credit card debts can be discharged in Oklahoma bankruptcy. This means… Read More»
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In Tulsa Chapter 7, What Types of Assets Can You Lose?
In a Tulsa Chapter 7 case, you risk losing some of your assets. However, do not believe the horror stories people tell of losing everything from the clothes in their closet to the family pets. Read on to learn the truth about what types of assets you can keep through Oklahoma bankruptcy exemptions. Retirement Accounts… Read More»
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Do I Qualify for Bankruptcy in Oklahoma?
If you are considering filing for bankruptcy in Oklahoma, you’re likely overwhelmed by debt. Perhaps you lost a job, went through a divorce, or had unexpected medical expenses. Or you simply spent beyond your means. Whatever the reason, most people can qualify for bankruptcy in Oklahoma. How to Qualify for Chapter 7 Chapter 7 is… Read More»
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When Do You Need a Bankruptcy Attorney for Chapter 7?
Filing Chapter 7 bankruptcy in Tulsa, Oklahoma is not an easy task even for people who are otherwise intelligent and successful in life. That is because the U.S. Bankruptcy Court requires lengthy documents to be completed in an accurate and thorough manner. Mistakes can lead to the denial of a request for bankruptcy relief; in… Read More»
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Can I Get Credit Cards After Bankruptcy in Oklahoma?
Many people in trouble with debt ask if they can get credit cards after bankruptcy in Oklahoma. The answer is “yes” — but it may take time. The time frame depends on many factors, especially what type of bankruptcy you filed. Credit Cards After Bankruptcy in Oklahoma: Chapter 7 Getting credit cards after bankruptcy in… Read More»
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Do I Earn Too Much Money to File Chapter 7 Bankruptcy in Oklahoma?
A common question is, “Do I earn too much money to file Chapter 7 bankruptcy in Oklahoma?” In some cases, the answer is “yes.” Read on to learn how the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 changed the face of Chapter 7 bankruptcy in Oklahoma. Means Testing and Chapter 7 Bankruptcy… Read More»
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Can I Include Taxes in an Oklahoma Bankruptcy Chapter 7 Discharge?
Certain taxes can be included in an Oklahoma bankruptcy Chapter 7 discharge, but tread carefully. Not all taxes are eligible for any type of bankruptcy in Tulsa. Read on to learn more. Taxes and Your Oklahoma Bankruptcy Chapter 7 Discharge Before you file bankruptcy, you must have filed your federal income tax returns for the… Read More»
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How Long Will a Tulsa OK Bankruptcy Damage My Credit?
While a Tulsa OK bankruptcy provides much relief to financially overburdened Oklahomans, there are some caveats. The fact that you filed a Tulsa OK bankruptcy will indeed damage your credit rating, but it is possible to re-establish your creditworthiness. Chapter 7 Tulsa OK Bankruptcy Chapter 7 bankruptcy allows the total forgiveness of most debts, with… Read More»
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Can I Get Credit Cards After Bankruptcy in Oklahoma?
Getting credit cards after bankruptcy in Oklahoma is not as easy as some television and newspaper ads would like you to believe. However, it is probable you can get credit cards after bankruptcy in Tulsa. Patience and flexibility are required. Credit Cards After Bankruptcy: The Basics Whether you can get credit cards after bankruptcy depends… Read More»
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What is a Tulsa, Oklahoma Bankruptcy Means Test?
In 2005, the face of bankruptcy law changed nationwide with the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). Among the many changes included the creation of the Oklahoma bankruptcy means test. Simply put, means testing requires people of a certain income level to partially repay their debts under Chapter 13 rather… Read More»
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What is a Tulsa, Oklahoma Bankruptcy Discharge?
To most people, the term Tulsa, Oklahoma bankruptcy discharge may sound confusing. However, this is the legal term for forgiveness of debt. Unfortunately, not every type of bankruptcy is equal; also, not every debt can be reduced fully or in part through bankruptcy. Let’s discuss the two main types of Oklahoma bankruptcy discharge. Chapter 7… Read More»
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Do I Really Have to Get Credit Counseling Before Bankruptcy?
“Yes” is the answer to the question of, “Do I really have to get credit counseling before bankruptcy in Oklahoma?” Since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was enacted in 2005, everyone filing personal bankruptcy in Oklahoma must first receive credit counseling. Credit Counseling before Bankruptcy in Oklahoma You must complete a… Read More»
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FAQ: Bankruptcy and Taxes in Oklahoma
Bankruptcy and taxes sometimes go together in Tulsa, Oklahoma, but the laws are complicated. As a general rule, you can only discharge older local, state, and federal income tax debts in bankruptcy. Bankruptcy and Taxes: Time Frames Before filing bankruptcy in Oklahoma, you must have filed any tax returns required of you for the previous… Read More»
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How Long Does an Oklahoma Chapter 13 Last?
When considering whether to file a Tulsa, Oklahoma Chapter 13, a common question regards how long this type of bankruptcy lasts. There are two primary time frames to keep in mind when deciding whether to file this type of “wage earner’s plan” with your local U.S. Bankruptcy Court. Repayment and Oklahoma Chapter 13 An Oklahoma… Read More»
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What is Medical Bankruptcy in Oklahoma?
Two-thirds of Americans who file for bankruptcy cite medical problems as the reason for their financial misfortune, according to CNBC. Unfortunately, there is no way to file a simple medical bankruptcy in Oklahoma or any other state. All of your creditors, including your mortgage lender and your credit card companies, must be included in any… Read More»
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How Do I File Chapter 13 in Oklahoma?
If you are overwhelmed with non-business debts but have some assets and steady income, you may wish to file Chapter 13 in Oklahoma. This type of bankruptcy is less damaging to your credit and assets than Chapter 7, but is still a serious undertaking. Read on to learn more about how to file Chapter 13… Read More»
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What Types of Debts Cannot Be Discharged in Oklahoma Bankruptcy?
Having debt discharged in Oklahoma bankruptcy is the ultimate goal for people overburdened by debt. In this case, the term “discharge” is a good thing; a judge permanently discharges your obligation to pay debts such as credit card bills, medical bills, and personal loans. However, some types of debts cannot be discharged in Oklahoma bankruptcy…. Read More»
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What are the Basic Tulsa, Oklahoma Bankruptcy Rules?
If you are overwhelmed with personal debts such as credit card bills and late car payments, you are probably curious about basic Tulsa, Oklahoma bankruptcy rules. It is important to first understand that there are two primary types of personal bankruptcy in Oklahoma: Chapter 7 and Chapter 13. Chapter 7 Oklahoma Bankruptcy Rules Chapter 7… Read More»
