Tulsa Bankruptcy offers a free consultation to everyone. Whether bankruptcy is your best option depends upon your particular circumstances - the amount of your debt, your employment situation, your monthly expenses, and other criteria. Bankruptcy is not always the best solution. If bankruptcy is the best solution for you, then the timing of your filing needs to be carefully planned.

We want you to investigate and learn all that you can. Make informed decisions and obtain the best possible representation. Most importantly, get out ahead of your financial future NOW and start making a plan to achieve the maximum benefit from your once in a lifetime filing. Procrastination can cost you your car, your wages, or your home.

There is no limit on the number of bankruptcies you may file in your lifetime. However, there are minimum time limits between filings. Generally, you must wait 8 years before you can file a Chapter 7 after a previous bankruptcy. Different limits apply to other Chapters.
Bankruptcy is a life changing event. You should plan your filing carefully, and make the strongest possible effort to make this a once in a lifetime event.
Once you decide to file bankruptcy, we will advise you to stop paying on certain debts that will be discharged through the bankruptcy. Your reduced payments on those particular debt payments can be used as payments toward your legal fees and the savings may very well fully fund your bankruptcy fees and costs.
You can retain the firm with whatever down payment you can afford. We will consult with you and put a plan in place that will free up cash so that you can quickly pay down the balance of the fees and costs of the case.  In most Chapter 7 cases, we will begin preparing the forms for your case as soon as your payments total $500.00. The rest of the fee can be paid over time through a payment plan, but must be paid in full prior to filing. We have state of the art electronic filing, so we can have your case filed within minutes of your final payment if the matter becomes urgent. You will know exactly what your payment plan is before you pay anything.
Bankruptcy law was changed in 2005, and you must now complete two credit counseling sessions. The first one is before your case is filed. It takes an hour, and you can do it over the internet or on the telephone. Shortly after your case is filed you must complete a second credit counseling session. If you fail to complete this second counseling course, your case will be closed without receiving the discharge of your debts. These courses are $40.00 each if taken over the internet.

It depends. We will develop a plan with you and tell you what property is exempt from liquidation by statute, and what property is at risk.  Losing property is a risk when filing Chapter 7 Bankruptcy.

What is most important is that you be completely honest with your attorney regarding all of your property. If you are not honest with us, you will probably lose any property that you are attempting to conceal, plus incur substantial legal fees that are not included in your flat fee agreement.  In extreme cases, you may also be criminally prosecuted for bankruptcy fraud.>/p>

Yes, with certain limits. Oklahoma has a generous rule. You can keep cash of up to 75% of your wages for the last 90 days. In addition, you can keep any cash in your qualified retirement accounts (such as a 401k or an IRA), any cash in certain educational savings account, and any workman's compensation settlement of up to $50,000.00.

Yes. First we must calculate your net equity in your car, which is the car's current value less the balanced owed on it. If the net equity is $7,500.00 or less, then your car is exempt and you may keep it. If you are making payments on your car, you probably have less than $7,500.00 in net equity. You will still have to make your car payments if you desire to keep the car.  

On the other hand, as part of forming your particular bankruptcy plan, we will examine whether you 'should' keep your car. If you are 'upside down,' or owe more money than the car is worth, we may look at the possibility of letting the car be repossessed in the bankruptcy so that you are not saddled with the negative equity going forward.

Be the tortoise from the story of the tortoise and the hare. Slow and steady will win the race. Make all of your payments on time, and do not let your debt balloon out of control again. By gradually building your credit, you will be re-established and maybe even stronger than prior to the time that your financial difficulties began. 

One myth needs to be dispelled. Filing bankruptcy will NOT make your bad credit history disappear from your credit report. Credit lines - good or bad - will stay on your credit report for 7 years from the date it is last reported to the credit bureau. Your bankruptcy filing will merely change the balance owed to zero and indicate that the debt was discharged in bankruptcy. This will improve your credit report, but will not erase it. The notice of your bankruptcy filing will remain on your credit report for 10 years.  Do not kid yourself into thinking that you can hide your credit history from anyone that has authority to view your credit report.

Absolutely. In 2005 the bankruptcy laws changed, and much of the public became misinformed about bankruptcy law. Many people that are entitled to relief under the bankruptcy code do not seek advice from an attorney because they have false beliefs about the status of their credit card debt. Credit card debt can still be discharged, with a only a few exceptions. An examination of your credit card debt and a full discussion of whether it can be discharged will be part of the bankruptcy plan we develop for you.
This is a case by case analysis, but as a general rule we advise against keeping a credit card. While we cannot make a blanket statement that applies to everyone, most people will be able to get a new credit card shortly after their discharge. But exercise some discretion and do not be too hasty in jumping back into the revolving debt trap again. You will be able to use a debit card to make any online purchases. You are getting a fresh start. Take full advantage of the forgiveness.
You probably will not be able to obtain a mortgage immediately after being discharged, but if you prudently re-establish your credit then you will probably be able to obtain financing when the time is right. It is very important to make your payments on time after your discharge. Lenders want to see that you can pay your bills on time and that you will not allow your debts to balloon out of control for a second time. If you currently have a mortgage or a car payment, then your credit score will gradually improve as you continue to pay and create a history of timely payments. You will generally need to have a down payment to make major purchases after bankruptcy. You will probably be able to obtain an auto loan within months after a discharge, and you generally should be able to obtain a mortgage in a couple of years. But again, do not be too hasty to jump back into debt after being forgiven.
Some taxes are dischargeable in bankruptcy, but most are not. Part of developing your individual bankruptcy plan will be examining any tax debts for dischargeability.
Student loans can be discharged only by showing undue hardship. This is very difficult, although not impossible. If your student loans can be discharged, it will require a special adversary proceeding that is not part of your flat fee for services. Prosecuting an adversary action for student loans will be expensive and costs thousands of dollars.
Your co-signor shall remain responsible for the guaranteed debt if you file a Chapter 7. Your co-signer can qualify for at least partial protection if you file Chapter 13.
In every case, there is one mandatory appearance at a creditor meeting with the U.S. Trustee (known as a 341 meeting). This meeting does not take place in a courtroom, and will be held approximately 30 days after your petition is filed. Mr. Siegrist will attend the meeting with you.  So long as you have been entirely honest with us regarding your assets and your debts, there will be no surprises at the meeting. Most people will never be in a courtroom during their bankruptcy proceedings.
We have been admitted to all three Bankruptcy Districts in Oklahoma, plus the Northern District of Texas.  We utilize state of the art electronic filing, so we can provide service for you anywhere in the state.  Specifically, our advertising focuses on potential clients around Tulsa, Broken Arrow, Bixby, Leonard, Coweta, Haskell, Porter, Fort Gibson, Muskogee, Wagoner, Mazie, Chouteau, Pryor, Claremore, Catoosa, Oolegah, Collinsville, Skiatook, Jenks, Beggs, Sand Springs, Sapulpa, Mannford, Drumwright, Cushing, Yale, Pawnee, Perkins, Cleveland, and Bartlesville.  If your town is not on the list, do not let that stop you - give us a call today