Forclosure and Bankruptcy Law Oklahoma

Tulsa Bankruptcy Law and Foreclosure In a large portion of the chapter 7 bankruptcy  and Oklahoma chapter 13 bankruptcy cases I do the client owns a house and doesn’t know if they should keep the house or simply walk away and discharge the debt. The way I approach the question is to ask the bankruptcy client to consider the consequences of all the options available. …

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Garnishments and Oklahoma Bankruptcy Law

Bankruptcy law questions “Will a granishment stop once I file bankruptcy” Over the years I have taken countless questions regarding the impact of garnishments on your bankruptcy case.   Under bankruptcy law the filing of your case kicks off the bankruptcy provision called the automatic stay.  The automatic stay stops creditors from attempting to collect any debts you have until they file for relief from the…

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What happens to my tax refund in Bankruptcy

Can I Keep My Tax Return? If you file bankruptcy and you are entitled to a tax refund the Trustee in your case can assert an interest in the refund.  Because he can take a part of it doesnt mean that he or she will.  First thing to consider is that certain parts of the tax refund are exempt.  An example of an exemption…

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Dangers Of Commingling Exempt Assets

What Does it Mean to Co-Mingle Assets In any chapter 7 Bankruptcy case, exemptions ensure that the Debtor(s) are not left empty handed on the streets, however some Debtors find themselves in situations that may result in loss of the bare minimum assets that could have been protected under the requisite exemption statutes. Although there are number of ways that a Debtor may loose…

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Oklahoma Automobile Exemption

Can I Keep My Car in Bankruptcy: In chapter 7 Bankruptcy Cases, Debtor(s)’ are given an opportunity to protect certain assets through Exemptions, which assets may include the Debtor(s)’ primary residence and other personal property such as furnishings and clothing. The U.S. Bankruptcy Code provides a list of uniformed exemptions, however most states have the option of opting out and providing for its own…

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