When you have worked as hard as you can, but your bills are piling up still, you begin to look for a way out. After all, you don’t want to lose everything you have worked so hard for, including your mind. It may be time to consider a fresh start. It may be time to consider bankruptcy. There is a Bankruptcy Attorney in Oklahoma City, Oklahoma who will talk to you and help you decide how to give yourself a fresh start. They want to abreast you of processes in filing bankruptcies.
In general, people filing for bankruptcy will either file chapter 7 or chapter 13. Bankruptcy is the means by which a person can get a fresh financial start and virtually stop all creditors from harassment. A bankruptcy can discharge the majority of your debts for the benefit of giving you the opportunity to start over. It can prevent foreclosures on your home, stop repossession on your vehicles or even force the creditor to return the vehicle if it has been taken, halt wage garnishments, restore or prevent utility shutoff, and basically give you room to breathe again, so that you can get your financial affairs in order. However, a bankruptcy does not necessarily eliminate any mortgages or other liens due on your property.
In the state of Oklahoma, you can keep all the property the state deems as exempt on a chapter 7 filing, provided that the property actually falls under the “exempt” status. Remember, it is the value of the property now and not what it was at initial purchase that counts. Cain Law Office is a personal injury attorney who also practices law in medical malpractices, workplace injuries, workers’ compensation, property liability, and of course bankruptcy. Deciding which type of bankruptcy is going to benefit you the most, or if bankruptcy is even an option you should take, depends largely on your financial situation. Cain Law Office can help you determine your best course of action. Their bankruptcy counselors have much experience in this field and will walk you through step by step. If you want to know more about this Bankruptcy Attorney in Oklahoma City, Oklahoma, contact their website.