An adversary proceedings In Oklahoma bankruptcy involves an objection to a debt being discharged. They can be filed in most kinds of bankruptcy. The most common adversary proceedings are filed in chapter 7 and chapter 13 cases. As someone facing bankruptcy, understanding the intricacies of the bankruptcy process is of utmost importance. One particular area that might seem a bit…
If your spouse files bankruptcy without you its possible for you to keep your tax return. One partner in a marriage can file bankruptcy individually without involving the other directly in the process. Although this is common there are still some issues that may overlap in bankruptcy filings for many married couples. The bankruptcy filing can be in the name…
In difficult financial times, when income is not keeping up with expenses, you may consider filing for bankruptcy. You may wonder whether you will lose your social security benefits if you file for bankruptcy. Social security benefits are exempt assets protected from being drawn on in bankruptcy to pay creditors. The federal process of bankruptcy has strong protections for exempt…
In Oklahoma, home equity in bankruptcy is largely exempt form the creditors and the court. Homeowners considering bankruptcy often wonder whether having equity in their home will cause a problem with an Oklahoma bankruptcy filing. Its a good question given that in many other states the equity in your home is limited in the amount you can have. Oklahoma is…
Its possible to buy a house after filing bankruptcy in Oklahoma. If you’ve had to file for bankruptcy, it’s because you experienced financial hardship. This financial hardship likely resulted in a low credit score. The combination of economic hardship and a low credit score makes buying a home difficult, but it’s not impossible. Its not uncommon for people to wonder…
Bankruptcy rules ending creditor harassment in Oklahoma protect consumers from predatory lenders. Creditor harassment is a significant issue for the Federal Trade Commission and other federal agencies that safeguard people’s rights. They receive countless complaints about companies who are relentless in their calls, emails, and texts about collecting on debts. Due to these complaints and the continual harassment of some…
With the post pandemic economy many people expect an Increase In bankruptcy cases in Oklahoma this year. Many people live paycheck to paycheck and struggle to make ends meet. With increasing inflation and a limited number of jobs, many people are worried about a potential increase in the number of bankruptcies likely to occur in 2023. Some people will deplete…
In Oklahoma filing bankruptcy on child support is not an option. Bankruptcy is a debt management tool often utilized by individuals and businesses experiencing financial hardship. This usually means you cannot reliably pay your debts. Bankruptcy provides an opportunity to get out from under the weight of overwhelming debt. This is done by eliminating past due unsecured debt by filing…
You cannot be Fired For Filing Bankruptcy in Oklahoma. The State and Federal government provide certain protection for people filing chapter 7 or chapter 13. If you’re considering filing for bankruptcy, you probably have endless questions about your future. One of the main questions may be about keeping your current job or being able to find another job in the…
As a senior, you may encounter large unexpected medical bills and feel like you may have to file bankruptcy to manage the daily collection calls and the amount of debt you have acquired. This can be compounded by a fixed income or that family members are their best means of support. The frustrating part behind bankruptcy and senior citizens is…
A statute of limitations on debt limits for how long a debt can hang out there over your head. Are you being inundated with phone calls from debt collection agencies looking for the repayment of debt? Before you make an offer to them to repay some of your old debt, it is crucial to determine how old the debt is….
In Oklahoma you can discharge past debt in bankruptcy. This includes both a chapter 7 bankruptcy and a chapter 13. Bankruptcy may be an option to discharge or reorganize your debts. But only specific types of debt can be discharged through bankruptcy. As you consider filing for bankruptcy, make sure the kinds of debt you want to eliminate are qualified…
Generally you can not keep a credit card when you File Bankruptcy in Oklahoma. Are you considering the possibility of bankruptcy or currently in the bankruptcy process and wondering when you can build your credit again? Are you wondering if you can keep your credit cards? If your credit cards have outstanding balances, you can assume you will lose them….
Fair debt collection rules In Oklahoma apply to debt collectors both inside and outside the state. Federal and state laws limit creditors and collection agencies when collecting debts. Most states have enacted laws applicable to debt collection. Many are like the Fair Debt Collection Practices Act, while some are broader and apply to the original creditor. States also have laws…
Gambling winnings in bankruptcy carry real consequences. To file a Chapter 7 bankruptcy case, you must first establish your eligibility under federal bankruptcy law. Whether you qualify to file a Chapter 7 bankruptcy case primarily depends on the amount of your income. Federal bankruptcy law uses a tool known as the means test to review your income over six months…
The requirements for filing bankruptcy in Oklahoma are precise and must be met for you to be eligible to file. Bankruptcy is not something that you will want to enter blindly. It will likely require some foresight and planning. Because it can be a life-altering decision, you will want to educate yourself on the process and what some requirements for…
Social Security Income might impact your ability to file a bankruptcy in Oklahoma. If you face financial challenges, bankruptcy may be the solution you need to feel at ease again. However, pursuing bankruptcy might seem overwhelming. Filing for bankruptcy can entail figuring out confusing paperwork and dealing with detailed research about your options. When you decide to file for bankruptcy,…
in Oklahoma secured credit cards in bankruptcy are treated a little different than unsecured credit cards. Filing for bankruptcy is a tough decision, but it may have felt like your only option at that time. While bankruptcy allows you to start fresh, it can impact your credit and make moving forward somewhat challenging. But in some cases a bankruptcy could…