Our Okmulgee Chapter 7 Bankruptcy Lawyers can help you get rid of your debt. If you owe money to creditors and cant pay it back you have ways out. Our Oklmulgee bankruptcy attorneys have filed over two thousand bankruptcy cases and we can do the same for you. People with financial problems don’t always know about bankruptcy. They struggle trying to pay back a debt amount that their incomes can never pay off. If you find yourself buried in debt consider bankruptcy.

Chapter 7 in Oklmulgee County

Chapter 7 bankruptcy has been around for years. Its a federal law and is handled in the Federal Bankruptcy Court. Bankruptcy cases in Okmulgee County are filed in the Eastern District Court. Chapter 7 bankruptcy is perhaps the best chapter of bankruptcy that you can file. A chapter 7 eliminates most of your debt. It does this while allowing you to keep most of your assets.

Do I Qualify For Chapter 7

Qualifying to file a chapter 7 is easier than many people think. The first part of qualifying is getting past the means test. The means test requires that for you to qualify for chapter 7 you cant not earn above the median family income. The income limit depends on the size of your family at the time you file. The more qualified family members you have the higher the income threshold is. If you don’t qualify for chapter 7 because your income is to high you may consider filing a chapter 13.

Another requirement is that the filer of a chapter 7 can not have filed in the prior 8 years. The eight years is calculated from the date the prior case was filed not the day the prior case was closed. Lastly and equally as important as the other requirements is that you have to be a resident of the state for a minimum of six months prior to filing your case. 

Debts Forgiven in Bankruptcy

All credit card debt

Any car or truck repossessions

Home foreclosures

Payday loans and Cash Advances

Payroll garnishments of your paycheck

Money Judgement decided against you in Court

Medical expenses for all medical bills owed to medical providers and hospitals

Property You Keep in Bankruptcy

When you file bankruptcy you get rid of most of your unsecured debt. You eliminate this debt without losing most of your property. The way this is done is by using bankruptcy exemptions. Each State in the country has different exemptions., It just so happens that Oklahoma has the most comprehensive exemptions in the country. In an Okmulgee chapter 7 bankruptcy your home is exempt. Your car or truck is exempt. The vast majority of your personal property is exempt. This means that all of your furniture clothes and basic jewelry is exempt. Also, if you have a retirement its also exempt.

Okmulgee Chapter 7 Bankruptcy Lawyers Near You

If you’re tired of fighting with creditors over debt that you cant pay give us a call. Chapter 7 bankruptcy is very common. People have been using it as a means to get back on financially stable ground for years. It is fairly simple to do and you’ll be happy you did it. Call us and get some free bankruptcy information