Means Testing and Oklahoma Bankruptcy Law

Means testing and Oklahoma bankruptcy go hand in hand. In order to qualify for chapter 7 bankruptcy you must not make above a certain amount of money per year. Means testing in bankruptcy determines which chapter of bankruptcy you qualify to file. Means Testing Qualifies You Your income determines which chapter of bankruptcy you qualify to file. If you’d like to file a chapter…

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Payday Loans in Bankruptcy

Garnishments and Oklahoma Bankruptcy Law

Payday loans in bankruptcy go hand in hand. Payday lenders are some of the most predatory types of loans that people take out. They usually come with the highest possible interest rates. The worst thing about payday loans is that they tend to be used by the poorest of us and that’s who gets hurt the most. Recent legislation attempts to require more disclosure…

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Tulsa Bankruptcy-Value Of Your Car For the Purpose Of Bankruptcy

How do you value your car for the purposes of bankruptcy Exemptions? Since Oklahoma has opted out of the federal exemptions, it provides for their own exemption statutes under title 31 of the Oklahoma Statutes section (A)(1) and under 31 O.S. §A (1) (13) and individual may exempt a vehicle for its value up to $7,500.00 in equity. In today’s world, with numerous vehicle…

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Oklahoma Bankruptcy Law

The Bankruptcy Code: Bankruptcy law is under the jurisdiction of title 11 of the Federal Bankruptcy Code.  Although federal law applies each state in the United States is allowed to apply or not apply certain bankruptcy exemptions.  An Exemption is what each person filing their bankruptcy case is allowed to keep regardless of  filing either a chapter 7 or chapter 13 bankruptcy.  An example…

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Will An Oklahoma Bankruptcy Hurt My Credit

Bankruptcy Hurt My Credit

Bankruptcy and your credit score: Will bankruptcy hurt my credit is a question people have.  The answer to this question is that it really depends on your particular circumstances.  In reality many of my clients are facing judgements for unpaid credit card bills, car repossessions, and foreclosures.  In those situations the answer is that in an odd way bankruptcy may help. This is because…

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