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.
The alarming rise in the rate of foreclosures across the nations has been a familiar topic in the news over the last several years. Many families who never dreamed of being in this situation are struggling to keep their homes. For a large percentage of them, losing their home through foreclosure will become an unavoidable […]
You are an honest debtor but for various reasons have lost control over your finances and are behind in your car payments. You have decided that filing Chapter 7 bankruptcy today is the best option for a better life tomorrow. However, you need your car for work and you are concerned that if you lose […]
If you’ve received a lump-sum payment or ongoing SSI benefits and anticipate filing bankruptcy, you may need to show how much of your cash on hand resulted from Social Security payments. Because they’re exempt under bankruptcy law, it is essential to keep those funds in a separate account. Avoid commingling that income with any other money.
The State of Oklahoma has very good exemptions compared to other states. Exemptions define the property that a person filing for bankruptcy in Oklahoma can keep and still discharge their debts. One such exemption is that the debtors in bankruptcy can exempt up to $7,500 of equity in a vehicle. This means you can keep […]