Our Okmulgee bankruptcy lawyers can help you get out from underneath oppressive debt. Each year thousands of Oklahomans turn to bankruptcy relief and get a fresh financial start. If you’re sick of the creditor calls or if you dread opening your mail just to find final notices and other threatening mail bankruptcy may be a great solution to your problems.
Bankruptcy is a federal program. Its been around since our country was founded. In fact its been a part of commerce throughout the world for years. Bankruptcy gives you that chance to get financial relief and start a new. Our Oklamulgee bankruptcy lawyers have filed thousand of bankruptcy cases and know how to get your case filed fast and successfully.
Which Bankruptcy Do I File
Bankruptcy is an absolute gift from the government but you must qualify. Our Okmuglee bankruptcy lawyers will explain the options and what you qualify for. In 2004 the federal government made lots of changes to the bankruptcy laws. The biggest change is that now you must qualify depending on the chapter of bankruptcy you want to file. This is called means testing. Basically if you make too much money you’ll have to file a chapter 13. If you make below the income limit you’ll file a chapter 7
Chapter 7 Okmulgee Bankruptcy
By far the best bankruptcy you can file is the chapter 7. The chapter 7 is a true gift. It helps you get total debt forgiveness for most of your unsecured debt. Things like garnishments, credit cards, pay day loans, repossessions and medical bills are wiped out. Our Okmulgee bankruptcy lawyers will explain to you that there is an income limit that you cant exceed. This is an average income and is impacted by your family size.
Chapter 13 Okmulgee Bankruptcy Lawyers
Chapter 13 bankruptcy is a a debt reorganization. The chapter 13 bankruptcy is used mainly by those people who make too much money to file a chapter 7. Its also used by home owners who are behind on their mortgage payments and facing foreclosure. If you’re behind on your mortgage the chapter 13 bankruptcy will save it. What it does is it takes all the late payments and allows you to pay them out over a five year period. Although its not as easy as is a chapter 7 its still a great option for many people.