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,…
How much it costs to file bankruptcy has been increasing over the past few years. Across the county Bankruptcy Courts and bankruptcy lawyers are increasing the cost for filing bankruptcy cases. This is because the initial fee to file the case and the obligations of the lawyers filing the cases has been going up. Many Courts will justify this increase by…
There are lots of bankruptcy options available in Oklahoma. The more you know about bankruptcy the better you’ll be at considering bankruptcy options available to you. Declaring bankruptcy in Oklahoma will affect your credit report along with your finances and personal life. Your credit score is often a low during the time you were struggling to pay bills and leading…