Tulsa, Oklahoma Bankruptcy Lawyers

logoMayer Law Firm, 918-293-0744
2488 E 81st St S., Suite 5630, Tulsa, OK 74137 USA
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Filing Oklahoma Bankruptcy

The bankruptcy laws in Oklahoma have been provided so that individuals in Oklahoma who are struggling with debt have the right to receive a relief from their debts so that they can begin rebuilding a fresh financial life without being weighed down by debts they are unable to repay.

When a person decides to file bankruptcy in Oklahoma they have the option of filing either chapter 7 or chapter 13 bankruptcy. A bankruptcy attorney can help you assess your finances and explain the differences between chapter 7 and chapter 13 to you if you schedule a free consultation appointment with a local Oklahoma attorney. We make it simple for you to locate a qualified, dedicated lawyer in your area of Oklahoma. Simply fill out our free case evaluation form or contact one of the lawyers listed above.

Oklahoma Chapter 13 is sometimes also called a reorganization bankruptcy. The reason for this is because when a debtor files under chapter 13 in OK, they will be entering into a debt repayment plan with their creditors. The bankruptcy attorney can help you work out a plan that will be accepted by the creditors. A chapter 13 debt repayment plan will last for three to five years.

Chapter 7 bankruptcy in Oklahoma is a liquidation bankruptcy. If a debtor files under chapter 7 they must turn over all of their assets that are not protected by theOklahoma bankruptcy exemptions for liquidation. However, many debtors have no assets that are not protected, so when they file chapter 7 they get a fresh start without losing any of their property. To be eligible to file chapter 7, you must pass the means test, which your bankruptcy lawyer can help you analyze.

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