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Bankruptcy exemptions are laws that protect certain property from creditors and the bankruptcy trustee. These exemptions determine what property you may be able to keep when you file Chapter 7 or Chapter 13 bankruptcy. One of the biggest fears people have before filing for bankruptcy is losing everything they own. Many people delay speaking with a bankruptcy attorney because they assume bankruptcy means giving…
Foreclosure and Oklahoma Bankruptcy go hand in hand. Oklahoma and the country as a whole have experienced a reduction in foreclosures. This is due mainly to the shaking out of the subprime mortgage fallout. Regardless of this recent reduction in foreclosure rates there are plenty of Oklahoman’s who are in danger of losing their home in a foreclosure. Oklahoma Foreclosure Process Most foreclosure’s involve…
Removing Liens on your home in bankruptcy is an important part of the case. Sometimes when a creditor gets a judgment against you and you own a home they will place a lien on the title. With the help of an experienced Oklahoma bankruptcy attorney getting the lien removed is easy. Motion to Avoid Lien on my Home Removing liens on your home in…
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…
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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