Chapter 13 is basically a debt repayment plan approved by a federal bankruptcy court and administered by a court-appointed bankruptcy trustee. Each bankruptcy case is different, but the following information is a general summary of what you can expect under Chapter 13 bankruptcy in Oklahoma.
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Federal bankruptcy law allows debtors to discharge certain debts in order to receive a fresh financial start. There are, however, limitations to what an individual can do under federal bankruptcy laws. This article discusses a few of the main limitations of filing bankruptcy for debt relief. Non-dischargeable Debts Federal bankruptcy law only allows you to […]
There are few common questions individuals and families ask regarding the discharge of student loans through bankruptcy: Can I file bankruptcy on my student loans? Are private student loans dischargeable? Are federal student loans dischargeable? The answer to each of these questions is yes, but only under certain conditions. Read on to learn the conditions […]
When filing bankruptcy, certain mistakes may jeopardize your ability to eliminate all or most of your debt. In some cases, these mistakes may even deprive you of the chance to receive any discharge at all. An experienced bankruptcy attorney can help protect your interests throughout the bankruptcy process and help you avoid these seven common Chapter […]
Like most Americans, Oklahomans often equate the pursuit of higher education to the pursuit of a better life for themselves and their families. But recently, the cost of higher education, which rose 15% between the years 2008 and 2010, has become a huge problem for many, and the words “higher education” have become synonymous with […]
Over the last several years, an increasing number of people in Oklahoma have found themselves filing bankruptcy due to unmanageable debt. Bankruptcy can be useful in helping you to restructure your debt and rebuild your finances. But how will bankruptcy affect your current job or future employment opportunities? The good news is, with some exceptions, […]
After years of struggling to pay your bills during the recent recession, you found yourself facing a mountain of debt and unable to keep up with your payments. You sought relief from harrowing creditors by filing for Chapter 7 bankruptcy. But now you have a black mark on your credit and you are unsure how […]
Doing Business After Bankruptcy in Oklahoma Doing business after bankruptcy may be more difficult, but it is far from impossible. Your business’ credit options may be severely limited after bankruptcy, but many of Oklahoma businesses have gone on to be successful and viable enterprises after having gone through bankruptcy. Business after bankruptcy will require you […]
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 […]
The decision to file bankruptcy may be one of the most important financial decisions of your financial life. While it will provide you with a fresh start financially, it can also scar your credit history for a significant period of time. Success in bankruptcy means making sure that the advantages of filing bankruptcy outweighs its […]
Bankruptcy is a lengthy process filled with words that the average individual will be unfamiliar with. To better understand and communicate with your attorney, it would be helpful to familiarize yourself with Oklahoma bankruptcy terms you will need to know. Automatic Stay As soon as you file for bankruptcy, an “automatic stay” goes into effect. […]
Most people when filing bankruptcy have some debt secured by assets that they would like to keep. For instance, they might have a house with a mortgage or a car with a car payment. In these circumstances (assuming there is a bankruptcy exemption to cover the assets, which there normally is) the chapter 7 filer […]
Pro-Bono work is good for everyone involved. It allows someone of less than modest means to get the help that they need without depleting the resources that they otherwise depend on for food and shelter. It also allows a professional to practice his craft, hone his skills and have the satisfaction of doing service. Everybody benefits. […]
The blog bug has finally hit the Debt Line Law Office. The bankruptcy attorneys at Debt Line will try to post informal updates on the firm and the state of the law in Oklahoma and bankruptcy in general on a regular basis. More formal information can be found on our Web site (www.888debtline.com) or by […]