Tulsa Bankruptcy Attorneys-Bankruptcy Trustee Information

  Chapter 7 Bankruptcy Trustee In Tulsa Oklahoma,  It is safe to say that your assigned bankruptcy trustee in Tulsa will likely have the most influence over your Chapter 7 bankruptcy case. Yet, who a trustee is, and what they do, may be a mystery to you.  This article seeks to provide you some basic information about trustees, and their role in your Chapter…

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Can I Avoid Filing Bankruptcy

  Five Debt Relief Options to Avoid Filing Bankruptcy   Sometimes bankruptcy is necessary, but it can be a very stressful, life-altering event that many people equate to divorce, serious health conditions and even the passing of a loved one.  While many Oklahoma citizens are candidates for bankruptcy, it is important to look at other options that may work for you to avoid filing…

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Filing Bankruptcy In Tulsa Oklahoma

  Myths About Filing Bankruptcy In Tulsa Oklahoma   As Tulsa Oklahoma bankruptcy attorneys with numerous years of experience, we regularly meet with prospective clients considering bankruptcy but who are too afraid to start the process.  Specifically, many of these individuals tell us that they fear filing for bankruptcy given that their credit will never recover once their debt is discharged.  The good news…

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Lawyers Tulsa Bankruptcy and Student Loans

Student Loans And Banktuptcy In Tulsa Oklahoma Recent College Graduates May Have Broader Bankruptcy Options Than They Realize Sluggish economic growth and a high unemployment rate have made for tough economic times for recent college graduates and those anticipating graduation soon.  These economic challenges can be daunting for those with a significant balance in student loan obligations.  While in theory student loans are dischargeable…

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Bankruptcy Law-Difference Between a Chapter 13 and a Chapter 7 Bakruptcy

Chapter 7 or Chapter 13 Bankruptcy in Ok– Whats The Difference Between Them: The major difference between a chapter 13 and a chapter 7 bankruptcy is that a chapter 13 is more like a reorganization of both secured and unsecured debt where as a chapter 7 bankruptcy is a liquidation of all debts and nonexempt assets.  In a chapter 13 the debtor is required to…

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Oklahoma Bankruptcy Law And Taxes-Discharging taxes in chapter 7 Bankruptcy

Tulsa Bankruptcy Attorneys-Will My Back Taxes Be Discharged In Bankruptcy: Chapter 7 Bankruptcy: Can you discharge Tax Debt? On any Chapter 7 Bankruptcy consultations, the prospective Debtor is always advised of a general caveat that certain debts classified as priority debts are not dischargeable including domestic support obligations such as child support and taxes due to the government and in most instances they are…

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Oklahoma Bankruptcy Law-Chapter 7 Means Test Qualifications

Oklahoma Bankruptcy And Family Income Qualifications: How Does Family Size Impact Chapter 7 Bankruptcy in Oklahoma In order to file Chapter 7 Bankruptcy you must first be able to pass the Means Test, which measures the Debtor’s income against the Median Family Income Based on State/Territory and Family Size. The median family income is set by the IRS and the Census Bureau reports and from…

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Means Testing And Oklahoma Bankruptcy Law

Oklahoma Means Test and Bankruptcy Law The bankruptcy “means test” determines whether your income is under the designated level for you to file Chapter 7 bankruptcy. It’s designed to keep filers with higher incomes from filing Chapter 7 bankruptcy.  Whereas high income earners who fail the means test have the option of filing a Chapter 13 bankruptcy to repay a portion of their debts in…

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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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Will An Oklahoma Bankruptcy Hurt My Credit

Tulsa Bankruptcy and your credit score: How your credit score will be impacted by filing a bankruptcy in Oklahoma is a question that I’m asked by most of my bankruptcy clients.  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…

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