Oklahoma Bankruptcy Law Review
What Type Of Debts Can Be Dischargeable Oklahoma?
Oklahoma Attorney Edward Kelley speaks on which type of debts can be Dischargeable in Oklahoma. Generally, student loan debts and criminal case debts are NOT dischargeable. Chapter 7 wont help in that regard. Although, there are some debts that are dischargeable. Read more »Requirements For Filing A Chapter 7 In Oklahoma
Oklahoma Attorney Edward Kelley with 888-deadline answers what the requirements are for filing a chapter 7. This marks a new series titled "the five absolute things you need to know before filing bankruptcy". As an overview, these are things that you will run into trouble if you don't know before you file. These are things that you need to consider before you file and these are things that will be very important as you go through the process. Read more »Should You File Bankruptcy During Divorce In Oklahoma?
Edward Kelley here with 888 Debt Line answers a popular topic: Should I file a bankruptcy during my divorce? Well, a quick answer would be if you are working with your soon to be ex-spouse for an uncontested matter and you both have a lot of debt, then absolutely. If you are in a contested matter where the assignment of debts may become an issue and property, then perhaps not. Read more »An Overview Of Reaffirmations In Chapter 7.
Oklahoma Attorney Edward Kelley with 888 Debtline speaks about Reaffirmations In Chapter 7. What is a reaffirmation? When should I do it? How does it apply? So we've talked in detail, I'll refer you to that video about reaffirmations on your home. Let's talk in detail about reaffirmations on your car and the ability, even in a Chapter 7, to reduce your interest rate. Reaffirmations don't come into play in a Chapter 13. Read more »Should I Reaffirm My Oklahoma Auto Loan In A Chapter 7?
Should I Reaffirm My Oklahoma Auto Loan In A Chapter 7? Oklahoma Attorney Edward Kelley with 888 Deadline answers that question. Let's say you have a vehicle and you are current on it and you want to keep it again, if you're behind, the only way you can force the creditor to allow you to catch up is through a chapter 13 bankruptcy. Now you can file a seven and then the creditor can't repossess it during the bankruptcy unless they file a motion to lift the stay, which stops them from collecting and a motion to abandon, meaning the estate abandons their interest in the property and they can do that during the bankruptcy. Read more »Should I Reaffirm My Oklahoma Home Loan In A Chapter 7?
Should I reaffirm my house in a chapter seven bankruptcy? Oklahoma Attorney Edward Kelley answers that. If you have a house, got a little bit of equity in it, fully intend to keep it, you're not in foreclosure. Because if you are, then you're going to need a chapter 13 to stop that. If you're a month or two behind, you would need to catch that up before the bankruptcy, would be my advice, as chapter seven doesn't afford you away to catch it up. Read more »Don’t Lie In Your Oklahoma Bankruptcy!
Is it fine to lie in your Oklahoma Bankruptcy. Absolutely not. Oklahoma City Attorney Edward Kelley explains the major risks involved when it concerns lying during your bankruptcy. Read more »Do You Need A Lawyer For Bankruptcy In Oklahoma?
Oklahoma City Attorney Edward Kelley answers a question asked often. Do I really need a lawyer to do my bankruptcy? The quick answer is yes. Lawyers went to three years of extra school and people who practice bankruptcy have often spent many, many more hours in specialized bankruptcy training in order to file these things. Read more »Can I Reduce My Auto Interest Rate In A Chapter 7 In Oklahoma?
Is there anything you can do about your terrible interest rate on your auto in my chapter seven bankruptcy? Yes! Oklahoma City Attorney Edward Kelley explains how you could potentially do so!
Read more »How to Succeed in a Chapter 13 in Oklahoma.
Oklahoma Attorney Edward Kelley's final video in the Chapter 13 series. How can you succeed at a chapter 13 plan? The key is don't leave it to yourself, don't leave human error in it. The best possible option is a wage deduction. Give your employer information, they garnish it is right out of your check, and you never have to think about it as long as you have that job. Read more »Oklahoma Attorney Edward Kelley Explains What The Cram Down Is In Chapter 13.
Oklahoma Attorney Edward Kelley's forth video in the Chapter 13 series. The cram down just applies to personal property and usually comes up in terms of a vehicle, nine times out of 10. So what is a cram down? The Cram down is a powerful tool that you get through the chapter 13. Read more »How Do You Save Your House And Car in a Chapter 13 in Oklahoma?
There are benefits to Chapter 13 instead of a Chapter 7 when it concerns saving your house and car in Oklahoma. For instance, as of the date of filing, it imposes an automatic stay which is an absolute bar to any collection. So, it stops the foreclosure and this applies to judicial proceedings, nonjudicial proceedings alike. It stops the foreclosure. It stops any remedies that the bank may have outside of foreclosure. Read more »Oklahoma Attorney Edward Kelley Explains The Benefits Of A Three Year Plan in Chapter 13.
Oklahoma Attorney Edward Kelley goes over part 2 in his series on Chapter 13. The 3 year plan is based on your income. If your income is under the cutoff for a chapter seven and you would be able to do a seven if you wanted, then your chapter 13 will be only three years or 36 months in duration. You can still take it out as long as 60 months if you need to, to cover the secured debt.
Read more »Oklahoma Attorney Edward Kelley Explains What You Need To About Chapter 13.
Oklahoma Attorney Edward Kelley begins his new series on Chapter 13. In Chapter 13 it can used as a fresh start if you get behind on your mortgage, or your vehicle payments. It can also be applied for somebody who simply makes too much money to do a Chapter 7 in Oklahoma. Read more »Are Criminal Penalties and Attorney Fee dischargeable in Oklahoma? (Special Debt 5)
Oklahoma Attorney Edward Kelley goes through a few different debts that are treated in a special way in bankruptcy. Let's say you committed some criminal offense and were given fines and costs and some sort of restitution to a victim. None of that is going to be dischargeable - Criminal penalties, restitution. Read more »What You Need To Know About 401k Loans in Oklahoma (Special Debts 4)
Now, a 401K mind you is generally considered exempt in a bankruptcy as long as it's set up properly, meaning the trustee cannot take it in your bankruptcy. However, you yourself may have taken a loan out against it and received monies that have long since been spent when you filed the bankruptcy. You may wonder, "Well, will that get rid of that debt?" And the answer is a definite no. Read more »
What You Need To Know About Child Support In Oklahoma (Special Debts Part 3
Oklahoma Attorney Edward Kelley continues his Special Debt Series explaining how it relates to Child Support in Oklahoma. Child Support is not dis-chargeable under any circumstances, although you will get credit, pretty much dollar for dollar in a Chapter seven for that expense. Read more »What You Need To Know About Taxes in Oklahoma (Special Debts Part 2)
Most people think they are totally out of luck on taxes, but that's not entirely true in the state of Oklahoma. The rule is that if taxes have been properly filed and are at least three years old, that's going to be three years from when they were filed them, they can be fully discharged. Read more »What You Need To Know About Student Loans In Oklahoma (Special Debts Part 1)
Student Loans can leave a negative impact on your finances. Sadly, you cannot use bankruptcy to have them discharged. Although, there are some options to deal with the crushing impact of student loans. Read more »Will I Lose My Home And Or Car In A Chapter 7 Bankruptcy In Oklahoma?
The idea of a chapter seven, also known as a liquidation bankruptcy, is that you liquidate your non-exempt assets into monies to be paid to your creditors so that any debt leftover is discharged, wiped away. Read more »