Are you drowning in debt and feeling overwhelmed? You’re not alone. Thousands of Tulsa residents face financial hardship every year. But there’s hope! Filing for bankruptcy could be your lifeline to get a fresh start.
As Tulsa bankruptcy attorneys, we understand how daunting the process can seem. You might be worried about losing your home, car, or hard-earned possessions. However, despite what you may have heard, bankruptcy isn’t as scary as it sounds. In fact, it’s a powerful legal tool designed to protect you.
Imagine waking up without the constant stress of collection calls and overdue bills. Picture yourself with a clean slate, ready to rebuild your credit and create a brighter financial future. That’s what filing for bankruptcy can do for you.
But navigating the bankruptcy process on your own can be tricky. There are different types of bankruptcy (like Chapter 7 and Chapter 13), each with specific rules and requirements. Making sense of the legal jargon and mountains of paperwork isn’t easy, but our law firm is here to help.
When you hire a Tulsa bankruptcy lawyer at Convenient Bankruptcy, we’ll guide you through every step of the bankruptcy journey. We will help you understand your options, make informed decisions, and protect your rights. Call us now at (405) 639-2099 or submit a contact form a free evaluation.
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“I was nervous about filing bankruptcy, but Luke and his team were extremely helpful and made me fill at ease. They walked me through every step and explained what was going to happen really well. I would 100% recommend them to anyone I know that may have to file bankruptcy. Thank you all!”
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Tulsa Chapter 7 & Chapter 13 Attorneys
When it comes to filing for bankruptcy, you have several options. The two most common types for individuals are Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy: The Liquidation Route
When you file Chapter 7 bankruptcy, you sell your non-exempt assets to repay your creditors. This type of bankruptcy is known as a “liquidation bankruptcy” because it essentially wipes out most of your unsecured debts (think credit cards, medical bills, and personal loans) in exchange for giving up certain assets.
Don’t worry about losing everything you own, however. Many of your possessions may be protected under Oklahoma’s exemption laws. These exemptions can safeguard your home, car, clothing, furniture, and retirement accounts.
Chapter 13 Bankruptcy: The Repayment Plan
When you file Chapter 13 bankruptcy, instead of selling everything you own, you create a repayment plan to pay back a portion of your debts over 3-5 years. This plan is perfect for individuals and families with a steady income who need breathing room to catch up on their bills.
Under Chapter 13, you’ll propose a plan to the court detailing how you’ll repay your creditors. The plan will include fixed monthly payments based on your income, expenses, and the total amount you owe. You’ll make these payments to a trustee, who will then distribute the funds to your creditors.
One of Chapter 13’s biggest perks is that it can help you save your home from foreclosure. If you’re behind on your mortgage payments, you can include those arrears in your repayment plan and gradually get back on track. It’s like hitting the “pause” button on foreclosure proceedings and giving yourself a chance to catch up.
Which Type of Bankruptcy Is Right For Me?
Which type of bankruptcy is right for you? It depends on your unique financial situation and goals. As your trusted Tulsa bankruptcy law firm, we can assess your case and recommend the best path forward. Together, we’ll find the solution that sets you up for success.
Remember, bankruptcy is not a sign of failure. It’s a legal tool designed to give hardworking people like you a second chance. With the right strategy and support, you can use bankruptcy to hit the reset button and start fresh.
Will Bankruptcy Ruin My Credit?
Many individuals are worried that filing for bankruptcy will ruin their credit forever. That’s a common misconception. While it’s true that a bankruptcy filing stays on your credit report for several years, many people find their scores improve after bankruptcy. Why? Because all those delinquent accounts are wiped clean, giving you a chance to start fresh.
Plus, there are steps you can take to rebuild your credit over time, like:
- Getting a secured credit card
- Becoming an authorized user on someone else’s account
- Making all your payments on time
- Keeping your balances low
The key is to be proactive and consistent. With discipline and dedication, you can get your credit back on track sooner than you think.
Contact Our Tulsa Bankruptcy Attorneys
If you’re ready to take control of your financial destiny, call Convenient Bankruptcy at (405) 639-2099. We offer free consultations to discuss your unique situation and explore your options. You don’t have to face this burden alone.
Remember, a financial crisis doesn’t define you. It’s just a temporary setback on the road to a better life. With the right support and guidance, you can overcome this challenge and emerge stronger than ever. Your fresh start begins today!
Our attorneys work with individuals and families in Tulsa and throughout Tulsa County!
