Bankruptcy Rules in Tulsa Okla depend on which Federal Bankruptcy Court in Oklahoma that your case is filed in. What a lot of people don’t really know is that the bankruptcy rules in Oklahoma are some of the most favorable in the United States. If you’re suffering from debt that you can’t pay back and you’re lucky enough to live in Oklahoma we can help.
Chapter 7 Bankruptcy Rules
Bankruptcy Rules in Tulsa Okla for filing chapter 7 are the same regardless of what County you live in. The thing about a chapter 7 is that it’s perhaps the best bankruptcy you can file. The reason its the best is that it literally wipes out most of your debt. Its hard to believe but chapter 7 bankruptcy gives you a fresh financial start. The thing about a chapter 7 is that the rules to qualify are set in stone. This means that if you don’t qualify there’s very little room to change that. Some of the rules are as follows:
- Your yearly earnings must be below a certain amount.
- There is a time limit between filing chapter 7 cases
- You must live in Oklahoma when you file and you must have been here for six months prior to filing.
- Together with your bankruptcy lawyer determine what property is exempt.
- Pay a filing fee together with any attorney fee due
- Take a real simple on line credit counseling from a court approved credit counselor.
- List all of your creditors including the account numbers and mailing address.
Bankruptcy Rules For Chapter 13
Chapter 13 Bankruptcy Rules in Tulsa Oklahoma are different than they are for a chapter 7. Chapter 13 bankruptcy rules focus on the amount of money you make per year. The rules in Oklahoma for chapter 13 also focus on what kind of property and debt that you owe. The vast majority of people file a chapter 13 because they make to much money for a chapter 7. Another big reason to file a chapter 13 is for those home owners that are behind on their home mortgage payments. If you’re facing a foreclosure on a home chapter 13 bankruptcy rules will help save your home. Some of the rules for chapter 13 are as follows:
- Must have sufficient yearly earnings to make a plan payment.
- Must make a chapter 13 plan including payments to creditors.
- Must determine the amount of the payment and how much each creditor will receive if anything.
- Decide what priority debt each creditor has
- Gather proofs of claims from creditors.
Oklahoma Bankruptcy Attorneys Near You
If you find yourself behind on bills, facing garnishments or foreclosure we will help you. With twenty years of experience helping people all over Oklahoma file bankruptcy we know what to do. Chapter 13 or chapter 7 we do them both. Call today and get a free consultation with a bankruptcy attorney near you.
