Secured Creditors in Oklahoma Chapter 7 Bankruptcy Law
 
What is the Schedule D?
Schedule D found in your chapter 7 consists of a list of your Secured Creditors. A Secured Creditor is one which has a security interest in any of your property. This means that if you fail to make the required payment for a certain piece of property, they have the right to repossess that property. Usually this is limited to your house or motor vehicle but there are other exceptions. You have a few choices when it comes to Secured Creditors. You can either choose to surrender the property or reaffirm it, which means you keep the property and keep the debt associated with it. If you are current on all your payments and you want to retain the property and you are able to continue making payments, you might want to reaffirm. You want to make sure that all payments on reaffirmed debt are made on time to avoid any problems. Consult with your Green Country bankruptcy attorney to determine if reaffirming is a good idea.