The Bankruptcy Process in Oklahoma
Is you debt keeping you awake at night? Are you tired of the harassing telephone calls from collection companies? Is your paycheck being garnished? If any or all of these situations apply to you, help is available. Call our Oklahoma Bankruptcy Lawyer to schedule your free in office or telephone consultation to determine if bankruptcy may be an option for you. In most cases, the process is straight forward. The following is the process for a Chapter 7 case:
- Call us! We offer free initial consultations in our office or on the telephone, whichever is more convenient for you.
- We will review your financial situation to determine if bankruptcy is the proper choice for you and if so, which chapter to file.
- Obtain your free credit reports and provide us with your last 6 months of bank statements and pay stubs as well as the last 2 years tax returns.
- Provide us a list of your assets and information regarding recent transactions.
- Take the required online credit counseling course. (The charge for this is approximately $15.00).
- We will then prepare your petition and schedules. Once approved by you, the case is ready to file!
- In addition to the attorney fee, the Bankruptcy Court charges a filing fee. For Chapter 7 cases, the filing fee is $335.00. If necessary, the Court can allow you to pay the filing fee in 4 monthly installments, with the first payment ($84.00) due at the time of filing.
- When your case is filed, the automatic stay goes into effect. This provision of federal law STOPS all collection activity against you.
- After your case is filed, we will work with your case trustee to provide all documents necessary for the administration of your case (tax returns, pay stubs, bank statements, copies of car titles to verify liens, etc.).
- Approximately 30 days after your case is filed, we will attend your 341 Meeting at the Bankruptcy Court. This is normally a brief affair and we will discuss it in depth before you appear. At the meeting, you will be sworn in and your attorney will ask you several questions about your bankruptcy. The trustee may have questions as well. This is also your creditors opportunity to appear and ask you questions.
- Following your 341 Meeting, you will be required to take an online financial management class. (The charge for this is approximately $10.00).
- If no issues have arisen in your case, such as objections to claimed exemptions or to discharge, the Court may enter your discharge within 4 months of the time you filed your case!
- The Discharge operates to discharge all of your dischargeable debts. If you have non-dischargeable debts, we will discuss those with you before the case is filed. (Examples of non-dischargeable debts are domestic support obligations, recent taxes and student loans. Other debts can become non-dischargeable if the creditor successfully proves that they were, for example, obtained by fraud).
- The Discharge provides you with a Fresh Start by discharging most, if not all, of your unsecured debt and prohibiting those creditors from ever seeking to collect it from you.
Each case is unique and yours may involve other steps not outlined above. We are here to help you, call us today!
(We are a debt relief agency and we help people file for bankruptcy relief under the Bankruptcy Code.)