Chapter 7 Oklahoma personal bankruptcy information;
Chapter 7 bankruptcy sometimes called the “Fresh Start Bankruptcy” is by far the most filed form of bankruptcy protection in Oklahoma. This is because it allows the debtor to wipe his or her financial slate clean of most if not all of their debts and start over. This bankruptcy code provision is available to individuals, married couples, corporations and partnerships. The final discharge normally occurs quickly after the Chapter 7 bankruptcy case is filed with the court. Exempt assets continue in your possession and secured assets like your home or car stay in your possession so long as you continue to make the payments. For a complete list of Oklahoma exemptions call one of our Tulsa Oklahoma Bankruptcy Attorneys. Once the Oklahoma Chapter 7 Bankruptcy is filed, collection efforts by creditors must stop. What this means is that once the case is filed calls from your creditors must stop and lawsuits which relate to the debts will be stayed or put on hold and often time dismissed in the bankruptcy case.
We are Tulsa lawyers who help people file for bankruptcy in Oklahoma. Call 918. 637-1546 for a free bankruptcy consultation
