We are a debt relief agency as defined in 11 U.S.C.A. §101(12A).
If you are dealing with creditor harassment and are having trouble keeping up with your monthly bills, there is no shame in asking for help. Many hard-working people find themselves in financial difficulty due to circumstances beyond their control. For many people, filing for bankruptcy provides the necessary debt relief to get back on track and make a fresh start.
An experienced Tulsa bankruptcy attorney can help you understand your options and give you all the information you need to make a decision that best meets your needs. At our Tulsa, Oklahoma-based law firm, we can help you navigate the system and obtain debt relief under Chapter 7 or Chapter 13 bankruptcy.
In many cases, hiring a Tulsa bankruptcy attorney is the first time our clients have needed to seek legal advice in their lives. We understand that this can be an intimidating process. When you hire our firm, we will be there with you at every step from the filing of your initial petition to the conclusion of your case.
Whether you choose Chapter 7 or Chapter 13 bankruptcy, the following steps will occur in every case:
- You will need to attend credit counseling with an accredited counseling agency.
- A bankruptcy petition — with supporting documentation about your assets, debts, income and expenses — will be filed with the court.
- You and your attorney will attend a creditors meeting where you will be put under oath and answer questions from your trustee and creditors about your financial affairs.
Chapter 7 Bankruptcy
Before your bankruptcy petition is filed, you will need to take a means test to see if you qualify for Chapter 7 bankruptcy.
The means test measures your disposable income against that of other Utah citizens and ensures that your application for bankruptcy is not an abuse of the system.
After the creditors meeting has been completed, the trustee will identify your exempt property and your nonexempt property. Your nonexempt property may be sold at auction and the funds used to repay your creditors. If your trustee decides that none of your property can be sold, you would lose nothing. What qualifies as exempt property must be discussed with your attorney.
After the funds, if any, have been distributed to your creditors, you will receive a discharge and will no longer have any personal responsibility for those debts.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy involves the repayment of debt over a three to five year period according to a court approved repayment plan.
Along with a bankruptcy petition and supporting documentation, people filing for Chapter 13 bankruptcy will also need to include a preliminary repayment plan which is usually developed during credit counseling.
After the creditors meeting you will attend a meeting to confirm your repayment plan.
Once your repayment plan has been successfully completed, you will receive a discharge of your debts.
To schedule a free consultation regarding your Tulsa Bankruptcy case, call attorney Jeff Krigel. He is an attorney who handles Tulsa bankruptcy cases, and cases in Bixby, Owasso, Jenks, Broken Arrow, Muskogee, Okmulgee, Bristow, Sand Springs, Sapulpa, Wagoner, Claremore, Skiatook, and surrounding areas.