Buying Things After Filing an Oklahoma Bankruptcy

December 4th, 2017

Buying Things after filing an Oklahoma bankruptcy may be okay but depends on a few factors.  One is timing.  But, the other–and more important–factor is which type of bankruptcy you file.  This means that depending on your status as a Chapter 7 or Chapter 13 bankruptcy, the answer varies.  This article will explain when Buying Things after filing an Oklahoma bankruptcy is appropriate

Making Purchases after Filing a Bankruptcy

Chapter 7 Bankruptcy Filing

If you file a Chapter 7 bankruptcy, Buying Things after filing an Oklahoma bankruptcy allowed at any time after you file.  Bankruptcy courts only Buying Things After Filing an Oklahoma Bankruptcynotice debts and purchases up to the time of filing.  Thus, any loans or purchases taking place after filing cannot be included in the bankruptcy.  Unfortunately, this is the rule for courts.  Lenders follow different rules.  As a result, most lenders will not lend anything to a person who has a bankruptcy that is not fully discharged or closed.  If a lender does provide you assistance, you will face higher interest rates and worse terms.  These lenders usually require a letter stating that these new loans or purchases will not be part of the bankruptcy.  So, anyone purchasing a vehicle or appliance with credit must ask the lender about their policy regarding recent bankruptcy.

SEE HOW BANKRUPTCY IMPACTS YOUR CREDIT SCORE HERE

Please note, if you are working with a lender who takes clients after bankruptcy, make sure you research the situation.  Often times unethical lenders, knowing you cannot file bankruptcy again for 8 years, will take advantage.  For example, they will lock you into bad loans knowing you have little to no recourse if you cannot afford the terms.

Chapter 13 Bankruptcy Filing in Oklahoma

Chapter 13 clients face other challenges when it comes to Buying Things after filing an Oklahoma bankruptcy.  The Court must provide you Buying Things After Filing an Oklahoma Bankruptcypermission before you can create new debt or make new purchases after bankruptcy filing.  While there are a few exceptions, such as medical emergencies or home and car repairs, you must still let your attorney know of the expense.  However, most purchases require permission from your trustee.  All purchases after bankruptcy will need approval before you can make them.  As a result, any home appliance like a washer or dryer must receive permission from the trustee.  Trustees will then consider if the purchase is necessary, how it impacts the repayment plan, and the terms of the purchase.  Once reviewing these, the trustee will either accept or reject the potential purchase.

Tulsa Bankruptcy Lawyers Can Help

If you are filing or considering filing bankruptcy in Oklahoma, you need to know the ramifications.  This is especially true if you are considering buying things after filing an Oklahoma bankruptcy. Our attorneys can help you file the correct type of bankruptcy and answer any further questions.  Call us today. Free consultation at 918.739.8984

Explaining Registering a Foreign Judgment in Bankruptcy

November 20th, 2017

Registering a Foreign Judgment in Bankruptcy will help you in collecting certain debts if you are a creditor. One of the most frustrating aspects ofRegistering a Foreign Judgment  lawsuits is the difficulty in collecting a judgment.  In many cases, the losing party will do all they can to avoid paying their fees.  For example they may switch banks or jobs simply to avoid garnishments.  Parties that move out of state can be especially frustrating because a judgment from one state is not automatically enforceable in another.  If you successfully sued another party in your home state for a money judgment, and that party now resides in Oklahoma, you will need to go through a process called “registering a foreign judgment” in order to enforce it in Oklahoma.

Registering a Foreign Judgment

Reasons for registering a foreign judgment are fairly clear.  The Oklahoma Courts cannot and will not recognize judgments from other states unless they register in an Oklahoma Court.  This means that you, as the holder of the judgment cannot take common measures to collect.  Some of these measures, like a garnishment or placing a lien will not work.  However, by registering, you gain all the protections and benefits of the Oklahoma Court system.  This operates as if the judgment is from here originally.  Thus, any collection activity you could take on a judgment from an Oklahoma court you can now take on the judgment from another state.

Process of Registering a Foreign Judgment

The process to register requires certain documents, which you can find under Title 12 §721 and §722.  Here you will find an “authenticated” copy of the foreign judgment.  This bears the original signature of the judge and generally has an emossed seal or stamp.  Some states call these “certified copies” or “exemplified copies”.  The court clerk will be the best point of contact for you to find this copy.  Some courthouses will further charge you aRegistering a foreign judgement in bankruptcy fee for the copy and subsequent mailing fees.

After you receive a copy of the judgment, you need to file a Petition to Register Foreign Judgement.  This will require the names of the parties, their addresses, the original judgment, and legal authority to register.  Further, you must file an affidavit that lists the parties’ addresses again.  Next, you file a Notice of Registration of Foreign Judgment.  A process server will serve this document on the person whom the judgment is against.  It provides the defendant with notice so they can begin looking into their legal options.

A twenty day wait period occurs after the defendant is served.  Once complete, you can now take action in court.  As a result, an asset hearing generally happens.  The court will demand during this hearing that the defendant appear and bring records of their personal property and employment.  Generally, the court will review these items and determine which assets can satisfy the judgment for the outstanding costs.  At this point, anything left outstanding is subject to liens and garnishments.

Legal Support from Tulsa Bankruptcy Attorneys

Hiring a bankruptcy attorney will help you streamline your approach to Register a Foreign Judgment.  This will ensure that someone cannot hide in Oklahoma from a legal judgment against them.  We will help you fight for what is yours.  Call us today for a free consultation.  We can help you complete the process quickly and correctly. 918.739.8984

Tulsa Lawyers Review Converting Chapter 13 to Chapter 7 Bankruptcy

November 1st, 2017

Converting Chapter 13 to Chapter 7 Bankruptcy is something you can do so long as you qualify. Because of the long nature of Chapter 13 bankruptcy plans, it’s not uncommon for circumstances to change drastically at some point during the plan.  Bankruptcy trustees are generally willing to make small modifications for small problems or emergencies.  For example, needing to replace a broken household appliance like a washer or refrigerator.  However, some changes directly affect the ability to make plan payments.  These may be an injury or the loss of a job.  In those cases, more drastic measures may need to be taken like Converting Chapter 13 to Chapter 7 Bankruptcy.

Converting a Bankruptcy from Chapter 13 to Chapter 7

The bankruptcy laws, specifically in 11 U.S.C. §1307 allow any debtor to convert a bankruptcy.  This is generally a Chapter 13 to a Chapter 7 at any time, for any reason.   However, the debtor must actually qualify for a Chapter 7 at the time of conversion.  Otherwise, the conversion will not work.  To be successful you must jump three primary hurdles.

Means Test and Converting Your Chapter 13

First, the debtor must pass the “means test.”  This is a measurement of income which the court uses to determine a person’s eligibility.  It will consider a six month snapshot of your income.  This will approximate what a yearly income may look like.  Then, this figure will compare to an average family income of a similar family.   If the approximated income if over the average, then you will not qualify for a Chapter 7 bankruptcy.  You must now consider a Chapter 13 instead.

Amending Bankruptcy Schedule I & J

The second hurdle is similar, but has a slight deviation from the first.  Inside the bankruptcy petition there are two documents, Schedules I & J.  TheseConverting Chapter 13 to Chapter 7 Bankruptcy list income and expenses.  As a result, it deduct the expenses from your income to show your actual disposable income.  Disposable income is generally fairly high for families that file Chapter 13 bankruptcies.  However, if during the Chapter 13 payment plan, you or your partner loses their job you may be eligible for converting a bankruptcy.  Thus, an amendment to the bankruptcy petition should file to show the income change.   The US Justice Department will require you to pay a Chapter 13 payment plan though if you have the “ability to pay” based on your disposable income.  Therefore, they could reject your petition to convert a bankruptcy to a Chapter 7.

Read This Bankruptcy Article For More Information

Timing and Previous Bankruptcies

The third hurdle regards the timing and if you have previous bankruptcies.  You must though, first pass the means test and the Schedule I & J tests to reach this step.  If you have never filed a bankruptcy, then this step is no hurdle at all.  However, if you have previous bankruptcies then you might have a problem converting your current bankruptcy.  If you have a previous Chapter 7 bankruptcy, then you must wait 8 years before filing another Chapter 7.  The debtor can within this 8 years though file a Chapter 13 bankruptcy. But, if you file a Chapter 13 within the 8 year period after a Chapter 7, this will never be eligible for a conversion to a chapter 7.  You can file to dismiss the Chapter 13 though, then re-file under a Chapter 7.

Tulsa Bankruptcy Lawyers Converting Your Bankruptcy Case

If you are in a Chapter 13 bankruptcy payment plan and need help Converting Chapter 13 to Chapter 7 Bankruptcy.  Our attorneys have years of legal experience in the bankruptcy field.  We can walk you through the process with minimal work from you.  Free consultation.

Married Filing Bankruptcy Without Your Spouse

September 1st, 2017

If you’re married Filing Bankruptcy Without Your Spouse isn’t a problem One of the concerns our clients often have is about their marriage and the effect it may have on bankruptcy. Bankruptcy and marital status do matter, but mostly in ways that are beneficial to the debtor.

Marriage and Filing Bankruptcy Together

Bankruptcy laws allow married couples to file a case together or filing bankruptcy without your spouse is okay too.  This pools their assets and Filing Bankruptcy Without Your Spouseliabilities and wipes out all of the latter for both spouses.  This is beneficial for two reasons.  First, it allows the couple to take advantage of bankruptcy exemptions, particularly the exception for vehicles.  If a person files individually, they may exempt one vehicle from the bankruptcy estate.  If a couple files jointly, they can both take the exemption and keep two vehicles.

Second, in a situation where the couple has been married for a number of years, it is likely that they both contributed to debt.  In that case, filing bankruptcy for just one half of the couple would only eliminate the debts as to the filing spouse.  Creditors could still take action against the non-filing spouse.  This could lead to a situation where, after one spouse has already filed and completed an individual bankruptcy, the other spouse must do the same.  Filing jointly in such cases saves time, money, and stress.

Marriage and Filing as an Individual

That said, there are circumstances where it is beneficial for a spouse to file as an individual.  For instance, it could be a relatively new marriage, or the couple could have all of the debts in the exclusive name of one spouse, leaving the other debt free.  In those circumstances, the married individual can file as an individual, but the marriage will have certain effects.

First, the individual can claim their spouse as a dependent.  This increases their family size to two.  They then may add any children as additional Filing Bankruptcy Without Your Spousedependents.  This is important, because the means test (the form that determines if a person may file a chapter 7 bankruptcy) is takes into account family size, and the larger the family the higher the cap on income.  The potential downside to this is that when income and expenses are determined, family income, rather than individual, is used.  So, if the filing spouse has a relatively low paying position, they would still need to account for their spouse’s higher income just as if they were filing together.

One more circumstance worth consideration is bankruptcy prior to divorce.  If a couple is planning on divorcing, it can often be extremely beneficial to file a joint bankruptcy beforehand.  This allows for them to eliminate all dischargable debts prior to negotiating the divorce.  One of the more contentious areas for a divorce is who gets what and who pays what.  By eliminating most of the liabilities prior to starting the divorce process, a couple can avoid unnecessary fighting and stress.

Read This Related Oklahoma Bankruptcy Topics; Secured and unsecured debts in bankruptcy

Legal Support For Your Oklahoma Bankruptcy Filing

Married Filing Bankruptcy Without Your Spouse is okay. In most circumstances, a joint bankruptcy is the most beneficial choice for a couple contemplating bankruptcy.  If you are a couple considering bankruptcy, consult an experienced bankruptcy attorney today.  Our Tulsa bankruptcy attorneys can review your situation and help you decide what is best for your circumstances. Free help and questions at 918.739.8984

Oklahoma Medical Bankruptcy Attorneys Can Help

July 14th, 2017

Oklahoma Medical Bankruptcy Attorneys can help you if you’re facing medical bills that are overwhelming you. One of the most common reasons our clients cite for filing bankruptcy is medical debt.  It is a leading source of financial hardship and struggle nationwide.  For many people drowning in medical debt, bankruptcy is a way to start over and build a better financial future.

Medical debt is somewhat different from most other forms of unsecured debt.  There are several reasons for this.  First, medical debt is usually not a choice.  Most people can choose to purchase something with a credit card or to take out a payday loan.  Medical procedures tend to happen whether people want them or not.  No one chooses to have a car accident or a heart attack, but the doctor bills come just the same.  Further, even with good insurance (much less without insurance), out of pocket costs can be staggering.  For those who do not, or cannot, plan ahead financially, a serious accident or illness can cause financial ruin.

Bankruptcy and the Unique Problem of Medical Debt

Though medical debt is a leading cause of bankruptcy, it does present a unique problem when preparing a bankruptcy.  Unlike most forms of debt, medical debt does not appear on a credit report.  Though, there are some exceptions.  For instance, if it passes to a third party debt collector.  It can be difficult to account for all of a person’s medical debt when filing.  This is simply because there is generally no central place reporting it all.  If a person has several different doctors or specialists, it can be very difficult to track down a bill for each one.

In most cases, this is more an annoyance than an actual problem.  In most Chapter 7 cases, none of the creditors receive any payment.  Therefore, all dischargable debts will discharge.  But in a case where creditors do receive payment, leaving out creditors can be a serious problem.  In those cases, a creditor who was left out would at least be entitled to what they would have received had they been included.

Other Bankruptcy Articles Related to will my Oklahoma bankruptcy be approved

Medical Debt and Timing in Bankruptcy

The other major problem with medical debt is that it can be sometimes be difficult to determine the right time to file.  Bankruptcy only addresses debts that come from before the case files.  If the medical debts are from routine procedures, or a one time accident like a car accident or a slip andOklahoma Medical Bankruptcy Attorneys fall, then it is fairly easy to determine when all the bills have been generated.  Therefore, it helps to determine when a person should file to discharge all of them.  But in a case where there is a longer term issue like cancer, an injury that will require multiple surgeries, or a chronic condition, it becomes a much more difficult question.  A person must balance wanting immediate debt relief versus the prospect of acquiring more medical debt–that cannot discharge–after the bankruptcy files.

Finally, if medical debt passes on to a third party collection agency, that presents its own set of issues.  Companies specializing in medical debt collection are often the most aggressive in pursuing payment.  They do not hesitate to make badgering phone calls, send threatening letters, or file lawsuits to get the payment they want.  This not only increases the stress on the person in debt but can lead to wage or bank account garnishment due to lawsuits.

Help From Oklahoma Medical Bankruptcy Attorneys

If you have significant medical debt that you are struggling to pay, it may be time to consider bankruptcy.  Call our Oklahoma medical bankruptcy attorneys today for help. Don’t let the pressure from medical bill cause you to suffer more health problems. Each year millions of Americans suffer overwhelming debt that’s the result of medical bills that they just cant pay. Don’t go it alone call our Bankruptcy law firm and lets get this taken care of. 918.739.8984

Tulsa Lawyer Examines When is it Time to File Bankruptcy

June 28th, 2017

The most important question a person asks themselves about filing bankruptcy is When is it time to file bankruptcy?  Our clients often fear filing and want to file at the most advantageous moment.  Because everyone’s financial circumstances are different, each person will have a different answer.  That said, there are a few commonalities leading to bankruptcy that help answer the question when is it time to file bankruptcy.

Common Triggers to Filing Bankruptcy

First, and perhaps most obvious, is when a creditor garnishes your wages.  After a creditor sues you, they have the right to collect the judgement.  This often arrises in the form of a garnishment.  This basically makes your employer turn over part of your earnings to the creditor.  This can be a major problem for people who are working to maintain any type of living.  Bankruptcy is a common solution to this problem since it immediately ends the garnishment once you file.

Similarly, if you are facing repossessions, filing is a solution.  Any creditor that repossesses your vehicle will sell it.  They will then use this money to offset anything you owe.  This is problematic though.  The amount the creditor gets in the resale is generally significantly less than what you owe.  So not only do you no longer have the car, you may still owe them thousands of dollars.  Further, auto lenders often file lawsuits on these types of debts which leads to garnishments and possible revocation of driving privileges.

While less common, foreclosure is a very serious trigger for bankruptcy.  There are two options to handling foreclosure in bankruptcy: a Chapter 7 or a Chapter 13 bankruptcy filing.  Chapter 7 bankruptcies will either allow you to wipe out debt by returning the house to the bank, or allow you to reaffirm the house.  Reaffirmation of the house will mean your other debt clears, but you still must make payments on the house.  A Chapter 13 can save the house, even if a foreclosure is already in place and a sheriff’s sale is set.  So long as a Chapter 13 is a feasible option and you file before the sale, it will stop the sale and ensure that you can keep your home.

Read About This Related Article Filing Bankruptcy without a lawyer.

Timing: When to File and How

Outside of those major triggers, the question of filing bankruptcy and when is mostly a question of your confidence in your financial situation.  Generally, if you can make the payments on your debts and still pay bills, you are ok.  If you are using one credit card to pay off another card, or taking out lots of payday loans to make ends meet and get creditors paid, then it may be time to consult a bankruptcy attorney.

As you can see from this article the question when is it time to file bankruptcy is a question that depends on your particular circumstances. Bankruptcy can be a lifeline for people in financial difficulty.  Whether it is due to any of these triggers or some other situation, bankruptcy can be a solution.  Our attorneys have the experience and skill necessary to streamline the process.  Let us help make the way easier for you.  Call now 918.739.8984

Tulsa Bankruptcy Lawyers Discuss Removing Liens From Your Home

June 5th, 2017

Removing Liens From Your Home in bankruptcy is possible if you do the the right thing. Many people who end up filing bankruptcy don’t consider filing until they are under suit by a creditor.  It’s generally best to file bankruptcy before creditors file lawsuits, but most people consider bankruptcy an absolute last resort.  For many debtors, the prospect of suffering wage garnishment before the bankruptcy files is the most serious issue.  For homeowners, however, there is another issue to consider:  liens.

Removing Liens From Your Home

When a creditor successfully sues a debtor, they have a few different options for collecting judgments.  The most common is a garnishment.  This is where the court orders the debtor’s employer to withhold a portion of the debtor’s pay on every check to pay the creditor.  If the debtor owns a home, the creditor can also obtain a lien against the property.  A lien is a claim against the property itself.  Basically, it says that in order for this property to be sold or transferred, the creditor must be paid.  They can receive payment either before the sale or after the sale, but they require payment regardless.  In many cases, debtors don’t even know that the lien exists until they try to sell the house.

Motion to Avoid Liens on Your Home

There is a fix for this problem. It is a Motion to Avoid Lien.  First, if you are contemplating bankruptcy, own a home, and are under suit by a creditor, inform yourself.  Contact your county’s land records department and have them look for any liens against your property (other than your mortgage).  If you do have judgment liens against your property, let your attorney know before the case files.  Making sure that your attorney knows about the liens will save you time, money, and headaches in the future.  Once your attorney knows about the liens, he or she can plan to have the bankruptcy court remove them with a document called a “motion to avoid lien”.  This is separate from the basic bankruptcy process, which is why it is so important for the lawyer to know beforehand that he or she will need to take action.

If your bankruptcy completes, and you become aware that there is a lien against your property, that is still fixable.  Your attorney can ask the court to reopen the case, and after the court grants that request, he or she can file the motion to avoid lien, just as if it had been done during the normal bankruptcy period.  The downside to this approach is time and money.  Reopening the case and filing the motion takes at least four weeks and the court charges several hundred dollars to re-open a case, not including the cost of your attorney’s time and efforts.

Related bankruptcy information asking the question Will my Oklahoma bankruptcy be approved

Call Our Bankruptcy Lawyers For Help

If you own a home and are considering filing a bankruptcy consider removing liens from your home in bankruptcy. Our Tulsa bankruptcy lawyers have helped thousands of people just like you get a successful bankruptcy filed. Regardless of the question we can help you. Call us today or read through our bankruptcy attorneys blog for more information. We can help 918.739.8984

Tulsa Lawyers Explain Filing Oklahoma Bankruptcy During Lawsuits

June 1st, 2017

Filing Oklahoma Bankruptcy During Lawsuits may impact your case. Depending on what kind of lawsuit you’re involved in determines how any potential proceeds form that lawsuit are handled. In certain instances all of the proceeds you hope to win will be exempt while in others they will not.

Auto Accidents and Filing Oklahoma Bankruptcy

Filing Oklahoma Bankruptcy During Lawsuits involving pain and suffering are very common.  Suppose you were injured in an auto accident or on the job, and you were considering filing a claim against the other driver or your employer.  Then you decide to file bankruptcy.  You might think that if you took your personal injury case to court, you would be forced to give up any money you were awarded for your injuries, pain, and suffering in the bankruptcy.  Your attorney could look at your claim and let you know if it qualifies for an “exemption”.  An exemption is money or property that doesn’t get turned over in a bankruptcy.  For claims over personal injury, death, or workers compensation, the exemption can cover up to $50,000.  Your attorney can also tell you how to handle the money so it isn’t mistaken for money that isn’t covered by an exemption.

Other Oklahoma Bankruptcy Information: Secured and unsecured debts in bankruptcy

Restitution Payments and Filing Oklahoma Bankruptcy

Suppose instead that you were the victim of a crime, and you were due to be awarded compensation.  Again, you might assume you’d have to give that up, but your attorney would be able to tell you that such proceeds are also covered by an exemption.  However, suppose you were considering filing a different kind of civil case, like a wrongful termination or a sexual harassment lawsuit.  You would be wise to consult an attorney, because your attorney would tell you to carefully weigh your options.  Those types of cases, unlike injury cases, are not covered by any exemptions.  Therefore, if you win money, the bankruptcy estate could (and likely would) take it.

Contact One of our Bankruptcy Lawyers in Oklahoma:

A dedicated, professional Tulsa bankruptcy attorney can help you sort out your options when you file bankruptcy. We can guide you towards the best decisions for your financial future.  Thinking about bankruptcy in Oklahoma may be scary, but the process of filing doesn’t have to be.  Contact our local bankruptcy firm at 918.739.8984 or read more bankruptcy information on our Tulsa bankruptcy attorneys blog.

Do I need an Attorney to File Bankruptcy in Oklahoma

May 17th, 2017

Although a bankruptcy case is filed in the federal court and controlled by federal bankruptcy laws just like most State Court claims you have a right to file bankruptcy in Oklahoma without a lawyer.  In fact its not entirely unusual to find people representing themselves in bankruptcy court. If you do decide that you want to represent yourself in bankruptcy court there are some basic questions that you will have to decide

How to File Bankruptcy in Oklahoma:

  1. What chapter of bankruptcy should you file. This is a bankruptcy question that is often decided by what your income is. If your income is below the median family income as found in the means test than you qualify for a chapter 7. On the other hand, if your income is above the median family income than a chapter 13 may be what you decide to file.
  2. Once you’ve decided which chapter of bankruptcy is right for you its time to decide in which bankruptcy court to file the case. Oklahoma has three federal bankruptcy courts. Which one you file in depends on what county you live in. Generally, if you live in Northeast Oklahoma you will file your case in Tulsa. If you live in Southern Oklahoma you will file your case in Okmulgee. Finally if you live west of Tulsa on in to Western Oklahoma than your case is filed in Oklahoma City.
  3. If you own real property like a home or land you’ll have to decide which exemption to use. In Oklahoma your home and the land its built on is exempt in the bankruptcy. This means that you’ll have to decide what the proper bankruptcy exemption is an choose it in the paper work. Remember, the exemption is for your primary residence only. This means the exemption does not extend to rental property you may own or other property than your name is listed on.
  4. If you own a car you’ll have to decide if you can keep it in bankruptcy. The answer is maybe. The bankruptcy exemption is 100% provided the value of your car is under a certain amount. Also the exemption only allows one car for each personal filing. So id f you and a spouse is filing than each of you can keep your vehicle in the bankruptcy. There are several other ways to extend the vehicle exemption to additional vehicles but this will require you to do some research

Related Bankruptcy information: Keeping your car in bankruptcy

We Can Help You File Bankruptcy in Oklahoma:

If you need help filing a bankruptcy in Oklahoma or have any questions or concerns about filing bankruptcy feel free to call our Bankruptcy attorneys in Tulsa. We file bankruptcy for our clients in all Federal bankruptcy Courts throughout the State. Bankruptcy doesn’t have to be so hard. Our Oklahoma bankruptcy lawyers have filed thousands of case and have helped our client file both chapter 13 and chapter 7 bankruptcy. Get Help 918.739.8984

Will my Oklahoma Bankruptcy be Approved

October 17th, 2016

One of the worries we get from clients at the beginning of the bankruptcy process is will my Oklahoma bankruptcy be approved?  Assuming the client qualifies in the first place and follows directions, the case will be successfully approved.

Of course, the first step to any successful bankruptcy, particularly a Chapter 7, is qualifying.  The two biggest hurdles to qualifying for a Chapter 7 are previous filings, and income.  As per 11 U.S.C. § 727 (a)(8), debtors are not permitted to receive a discharge in a Chapter 7 if they received a case that was filed in the eight years prior to the current case.  The other hurdle is income.  To qualify for a Chapter 7, a debtor (or joint debtors) must have a family income beneath the median income for a family of the same size in their county of residence.

Qualified to File Now What:

Will my Oklahoma Bankruptcy be Approved has been answered as yes so now what? Once the debtor qualifies to file, the only real obstacle to completing the case and getting it approved  is a failure to follow the directions of the bankruptcy process.  It is important to remember that bankruptcy is a process:  it has well established steps that if followed yield a predicable result (in this case, a discharge).  If they aren’t followed, though, problems will arise.

The two biggest ways in which a client can fail to follow the process are by failing to appear at their 341 hearing, and by failing to complete the debtor education course.  The court requires every debtor to attend a meeting with the trustee before a discharge can be granted.  The trustee asks several questions under oath, establishing that the debtor read and understood their bankruptcy and that they included everything that should be in it.  In addition, the trustee can clear up any questions he or she or a creditor has about the case.  If the debtor fails to attend the first meeting, it will be rescheduled.  If the debtor fails to attend the second reason without a compelling reason, the trustee may move to dismiss the case.

Last Step is Easy so Just Get it Done:

Finally, just as the debtor is required to complete a pre-filing credit counseling course, the debtor is required to complete a post-filing debtor education course.  This course must be completed within 90 days of the date of filing.  Barring a compelling reason for not doing so (such as disability), the court will dismiss the case of any debtor who fails to complete the course without a discharge.  This means the debtor would have to start all over again at the beginning in order to obtain a bankruptcy discharge.

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Contact a Tulsa Bankruptcy Lawyers For Help:

If, however, a debtor qualifies and follows the directions, their case will almost certainly be concluded successfully with a discharge.  The best advice that can be given to a client is to listen, answer any questions from his or her attorney accurately and honestly, and to follow directions from his or her attorney. So its easy. The answer to the question will my Oklahoma bankruptcy be approved is yes. Once you qualify all that’s required is for you to get the paperwork to your Tulsa bankruptcy lawyers and we’ll help do the rest. Call for information 918-739-8984 today a get a free consultation or read our Tulsa bankruptcy lawyer blog for answers to questions..