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Reports from the financial sector show bankruptcies are on an upward trend with an estimated 2 million being cases being filed during the last year for which information has been made available. While the majority of these cases once stemmed from the business sector, studies indicate 97 percent now involve consumers. With the gap between household incomes and costs of living growing wider, the numbers are expected to mount during the years to come. In light of this issue, Mary Brown of South Tulsa Bankruptcy Lawyers has launched the firm's latest efforts to help educate consumers on the most often sought-after form of bankruptcy.Said Brown, "Chapter 7 is the now most popular form of bankruptcy for consumers, and its the most comprehensive option in Oklahoma. It also happens to be the simplest in comparison to the alternatives. Despite its relative simplicity, it's a complicated subject with a number of variables in play. We represent clients in all types of bankruptcy, and our goal here is to help those facing crushing debt better understand the finer points of this option."
In order to be eligible for Tulsa chapter 7 bankruptcy, those considering filing must be Oklahoma residents and have lived in the state for at least six months according to information from the South Tulsa Bankruptcy Lawyers website. Qualification also includes passing a means test in which family size is weighed against the local median income. Those with incomes equal to or less than the median income are considered eligible.
As opposed to other forms of bankruptcy, chapter 7 allows filers to keep a number of their personal belongings, such as primary homes, automobiles and certain financial assets. Chapter 7 also allows for the discharge of a broad range of preexisting debt, including back taxes, medical bills and payday loans. Further details are available at http://tulsabankruptcylawyers.net/.
Concluded Brown, "Anyone in need of assistance may contact us by phone or via our website for more information. We offer free consultations and flexible scheduling to help better meet the needs of clients as well as a range of online resources. We believe education is the key to helping those facing bankruptcy take the first step toward a fresh start, and we're here to answer any questions our clients may have during every leg of the filing process."
About South Tulsa Bankruptcy Lawyers:
Helping people in Oklahoma file for bankruptcy and get a fresh start, South Tulsa Bankruptcy Lawyers offers a broad range of resources and legal services geared toward the needs of their clients.
Contact Info:
Name: Mary Brown
Email: Send Email
Organization: South Tulsa Bankruptcy Lawyers
Address: Tulsa, OK 74105
Phone: (918) 739-8984
Website: http://tulsabankruptcylawyers.net/
Release ID: 226359