As many Oklahoma residents who are struggling with student debt know, it can be extremely difficult to have student loan debt discharged through Chapter 7 bankruptcy. In recent years, consumer protection groups have been advocating for a change to the bankruptcy rules so that student loans can become eligible for discharge through personal bankruptcy. According […]

When you file for bankruptcy in Oklahoma as a consumer, you must typically decide whether to file for Chapter 13 or Chapter 7 bankruptcy. In some situations when a consumer’s debt loan is too high, that consumer may only have the option of filing for Chapter 11 bankruptcy. But what happens if you choose to […]

Consumer bankruptcy can be a solution for adults of any age in Oklahoma who are struggling to pay credit card bills and other debts. At the same time, a recent article in Forbes suggests that there are more, older Americans are filing for personal bankruptcy at rising rates, suggesting that there is a need to […]

If you are thinking about filing for consumer bankruptcy in Oklahoma, you might be wondering how much it costs. News reports, such as an article in U.S. News & World Report, indicate that debtors can sometimes be too poor to file for bankruptcy. In other words, they cannot afford the filing fees associated with personal […]

If you are thinking about filing for bankruptcy, you might be wondering what will happen to your co-signers—a parent, a sibling, or a close friend, for instance. A co-signer is someone who offers to co-sign a loan for which you are applying because, as the Consumer Financial Protection Bureau (CFPB) explains, “the lender will not […]

If you are considering filing for Chapter 7 bankruptcy in Oklahoma City and have substantial student loan debt, you might be wondering whether this type of debt can be discharged. Generally speaking, it is very difficult to discharge most student loan debt in bankruptcy. At the same time, it is not impossible to do. Many […]

A Chapter 7 bankruptcy allows you to discharge most of your debts without any further obligation to repay. But not all debtors are eligible for Chapter 7 protection. In 2005, Congress amended the bankruptcy laws to require all debtors pass a “means test” to establish they lack sufficient monthly income to repay their creditors. Debtors […]

When you file for Chapter 7 bankruptcy, the court will assign your case to an official known as the United States Trustee. The trustee is appointed by the Attorney General of the United States to serve as an impartial overseer of the bankruptcy process. In Chapter 7 cases, the trustee’s primary roles include liquidating a […]

Many people are hesitant to consider bankruptcy in Oklahoma because they fear losing what little property they have to their creditors. But in fact, the typical Oklahoma debtor is able to protect most of his or her personal property through a series of legal exemptions. These exemptions are available in both Chapter 7 and Chapter […]

A Chapter 7 bankruptcy is designed to discharge–eliminate–most of your outstanding debts after certain non-exempt assets are liquidated by a court-appointed trustee. In some cases the court may dismiss or convert a Chapter 7 filing into Chapter 13 (or Chapter 11) case. Unlike Chapter 7, a Chapter 13 bankruptcy does not immediately eliminate debt. Instead, […]