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.
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.
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. 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.