Both Chapter 7 and Chapter 13 Bankruptcy provide a means for Oklahoma consumers to eliminate most unsecured debt. This includes, credit card debt, personal loan debt, and unpaid medical expenses. Also included is repossessions and foreclosure debt. Many Oklahoma consumers have steady employment but are simply unable to overcome credit card debt. Credit card debt is a burden shared by many Oklahoman’s, and it is…
Foreclosure and Bankruptcy Attorneys
Foreclosure and bankruptcy often go hand in hand. When you file chapter 7 or chapter 13 bankruptcy, you can keep your home as long as you are current on your mortgage payments. People who lose their home can eliminate the remaining debt after foreclosure. Under most circumstance, filing for bankruptcy will temporarily postpone the foreclosure process. Read on to learn more about how declaring…
Oklahoma Bankruptcy Means Test
In order to file for chapter 7 or chapter 13 bankruptcy, you must first pass the Bankruptcy means test. The test differs for chapter 7 and chapter 13 petitioners. For instance, there are certain monetary thresholds under the chapter 7 bankruptcy means test that once reached, prohibit a debtor from filing. As an alternative, the debtor may be able to file for chapter 13 bankruptcy…