An Introduction to Chapter 9 Bankruptcy

Chapter 9 is a form of bankruptcy that protects insolvent municipalities from creditor actions by allowing them to reorganize their debts, extend the repayment timeline, reduce principal or interest on existing debts, or refinance. The Bankruptcy Code defines ‘municipalities’ as government entities such as: Cities Townships Counties Municipal utilities School districts Taxing districts Of all Read More

Servicemembers: How the Civil Relief Act Can Help You Save Your Home

The Servicemembers Civil Relief Act performs an invaluable service by providing a series of financial safeguards for active-duty members of the U.S. military and their families. The Act, which is an expanded update of the Soldiers’ and Sailors’ Civil Relief Act passed in 1940, covers fiscal and civil obligations such as: Credit card debt Mortgage payments Apartment and rental home leases By protecting Read More

What You Need to Know About the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau has often commented that it receives more consumer complaints about debt collectors than any other industry. People claim that these collectors call them at all hours, threaten them with everything from wage garnishment to physical assault, and call their friends, family, and co-workers to expose them as “deadbeats.” In some cases, the debts in question do not even belong to Read More

A Brief Overview of the Bankruptcy Appeals Process

Bankruptcy court orders are similar to those issued in trial courts in that they can be appealed if you disagree with the outcome. There are, however, important differences between bankruptcy appeals and those carried out in the courts. For example: Only certain orders may be appealed. Appeals may be made to different courts. There are different procedural rules that apply. What Orders May Be Read More

4 Tips for Rebuilding Your Credit Following Bankruptcy

When you filed for bankruptcy in Oklahoma, you may have assumed that your credit would be ruined forever, preventing you from ever qualifying for a mortgage or obtaining new credit. Not quite. Although bankruptcy does cause your score to drop in the beginning and will remain on your credit report for 10 years, there are steps you can take to rebuild after discharge. Let’s take a closer look at four of them. Read More

A Step-by-Step Guide to Filing for Bankruptcy

If you’ve decided to file for bankruptcy, you’re not alone. In June 2017 the annual bankruptcy filings came to 796,037. With mounting medical bills, credit card balances, and other debt more Americans are turning to Chapter 7 or Chapter 13 to provide them with relief from impossible financial situations. To let you know what to expect, we are providing you with a step-by-step guide to filing for bankruptcy in Read More

What You Need to Know About the 341 Hearing

When you file for bankruptcy in Oklahoma, you are required to attend a meeting of creditors known as the 341 meeting. The court clerk schedules this hearing about 30 days after the filing of your bankruptcy petition. Although the prospect of facing your creditors seems intimidating, the proceeding is not designed to trap you or make you feel ashamed that you sought debt relief. Think of it as a fact-finding Read More

Thinking of Filing for Bankruptcy? Ask Yourself These 5 Questions First

When you’re struggling with significant amounts of debt, filing for bankruptcy can give you the respite needed to regain financial solvency. It is, however, a step that can have a significant impact on your credit rating and, depending on which chapter you file, require you to surrender assets or commit to a long-term debt repayment plan. Here are 5 questions you should ask yourself before meeting with a Read More

7 Illegal Debt Collection Practices to Watch For

You’re busy at work when the phone rings. Assuming that it’s a client or a colleague, you answer it but, instead, you’re greeted by a hostile debt collector - the same one who’s been calling the office every day for a month now. You’ve told them not to call you at work, but they refuse to listen. When you don’t pick up, they call your supervisor instead. It’s so stressful, but they insist that you owe the money and Read More

A Brief Guide to Chapter 13 Bankruptcy

Chapter 13 bankruptcy is often referred to as debt relief for higher income wage-earners. It is a rehabilitative bankruptcy that allows a debtor with regular income to repay all of their debts over a three to five year period. If your secured debts are less than $1,184,200 and unsecured debts do not exceed $394,725, Chapter 13 can give you the fresh start you need to regain financial solvency. Why File Chapter Read More

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