I understand when unavoidable circumstances make bankruptcy necessary
Chapter 13 Bankruptcy Legal Services
- Oklahoma State Bar Association Member - Locally Owned
Experienced Chapter 13 Bankruptcy Attorney
Most Oklahoma individuals with a regular income who aren’t eligible for Chapter 7 bankruptcy are eligible for declaring Chapter 13 bankruptcy.
In many respects, Chapter 13 bankruptcy is similar to Chapter 7 where a consumer’s dischargeable debt is eliminated; however, in a Chapter 13 case, this occurs only after an individual has fulfilled the terms of their three-to-five-year repayment plan.
Although you should direct any specific questions about your financial situation to a dedicated Chapter 13 bankruptcy attorney, knowing a little bit about the Chapter 13 process is helpful for your initial consultation.
Get Relief From Dischargeable Debt
In a Chapter 13 bankruptcy, the court-appointed trustee works with you and your creditors to establish a reasonable repayment plan focusing on your dischargeable debt.
As long as you consistently make your payments under the new arrangement, you can expect that any remaining dischargeable debt will be erased at the end of the three-to-five-year period. This includes medical bills, credit card bills, and any outstanding balances you may have with utilities.
If you fall behind in your payments due to job loss or other contingencies, you may request a modification of your repayment plan or else see if you have become eligible for Chapter 7 bankruptcy.
Keep in mind that other debts such as student loans, child support, fines related to criminal prosecutions, and past-due taxes are generally not dischargeable under federal law.
Schedule Your Free Legal Consultation Today
If you would like more information on filing bankruptcy please contact Matthew E. Riggin Bankruptcy Attorney at Law to schedule a free consultation
today. We provide same day services based on appointment availability.
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