Filing for bankruptcy can feel overwhelming, especially when you’re worried about whether you can keep your home. Many people hesitate to file because they assume bankruptcy automatically means giving up their house. The good news is, in many cases, you can keep your home during bankruptcy—but it depends on several key factors. How Bankruptcy Affects Your Home When you file…
If you’re facing overwhelming debt in Oklahoma, Chapter 7 bankruptcy may offer the financial relief you need. Also known as “liquidation bankruptcy,” Chapter 7 allows qualifying individuals to discharge most unsecured debts and get a fresh start. While the idea of filing for bankruptcy may seem intimidating, understanding the process can help you take control of your financial future. What…
Many people wonder if they can keep their car in bankruptcy. In Oklahoma, understanding the rules and exemptions related to vehicle ownership during bankruptcy can help you make informed decisions and navigate the process more confidently. First and foremost, it’s important to understand the two primary types of bankruptcy available to individuals: Chapter 7 and Chapter 13. The type of…
Bankruptcy on credit cards is one of the number one reasons people file for bankruptcy. Credit card debt can easily get out of hand due to the promise of being able to pay later. However, interest rates and emergencies can increase the debt exponentially. Dealing with this overwhelming credit card debt can be stressful and financially draining. In Oklahoma, understanding…
One of the fastest way of Stopping Garnishments in Rogers County is to file bankruptcy. Many people suffering financial problems often become familiar with garnishments. But all they really know is that their pay check is smaller and a third party creditor is taking their money. But what’s happening with their money and the best way for stopping garnishments in…
Filing a Rogers County bankruptcy stops garnishments the instant we file your case. When creditors use wage garnishments to collect debts, it can be quite difficult to cover your everyday expenses. Depending on the debt’s type, an employer may deduct up to 25% of your pay. Thankfully, bankruptcy cases can erase many debts and stop most garnishment types. In this…
Student Loan Debts and bankruptcy don’t really mix. Although student loans are not forgiven in bankruptcy most of your other unsecured debt is. At one time student loans were forgiven in bankruptcy since that time Congress amended laws several years ago to disallow filing bankruptcy on student loan debt. This includes almost all types of student loan debt: private, governmental,…
Medical Debt and Bankruptcy go hand in hand. Medical debt is one of the leading causes for bankruptcy filings. Even with reform and wider insurance coverage, medical debt and bankruptcy still highly intertwine. Between co pays and deductibles we still find ourselves with medical expenses that are out of control. Often, people are financially stable until a traumatic medical event…
It’s normal for people to not run out and immediately file bankruptcy when financial issues first appear. However, when is the best time to file bankruptcy is a great question? This question is common, but the answer is unique to each circumstance. To get an idea of what might work for you, this article sets out some guiding principles on…
Unlike a Chapter 7, a Chapter 13 bankruptcy does not immediately wipe out all the debts that the court can. Instead, a Chapter 13 bankruptcy creates a plan for paying back a percentage, if not all, of what you owe your creditors. This is done by establishing your monthly income and your reasonable monthly expenses, including things like groceries, medicine,…