Forgiving Student Loans in Bankruptcy

Tulsa Bankruptcy: What Not to Do Before Filing

Student Loan debt is becoming a crippling problem in recent times. In fact forgiving student loans is a hot topic as the number of borrowers skyrockets.  Student loan borrowers may have more Bankruptcy Options in Oklahoma than they realize. Sluggish economic growth and an uneven economic recovery have made for tough economic times for borrowers.  These economic challenges can be daunting for those with…

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Difference Between a Chapter 13 and a Chapter 7 Bankruptcy

Difference between a chapter 13 and a chapter 7 bankruptcy

One of the complicated things about bankruptcy in Oklahoma is deciding between a chapter 13 and a chapter 13.  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. On the other hand a chapter 7 bankruptcy forgives most unsecured debt without forcing you to pay anything…

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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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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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