According to USCourts.gov, 9,606 bankruptcy cases were filed in the state of Oklahoma for the 12 month period ending June 30, 2018. This is an increase from the previous 12 month period ending June 30, 2017. People don't accumulate debt with the intentions of never paying it back. However, financial hardships can strike at any time and individuals find filing for bankruptcy can give them a fresh financial start when they are in over their head. —
"Speak to a Bankruptcy law attorney to determine if this option is right for you. Other options are offered that may be of more benefit to the debtor. However, one can only know this is they are aware of all of these options, and many individuals are not. We are here to change this by sitting down with debtors to discuss the best course of action for their particular situation," Mary Kerr, a bankruptcy specialist with South Tulsa Bankruptcy Lawyers, explains.
Individuals may have a medical crisis that leaves them with extremely high medical bills they are unable to pay. The only way to clear these bills from their credit is to file for chapter 7 bankruptcy. With this type of bankruptcy, the individual must meet certain requirements, such as the means test. This test is required to ensure the debtor truly isn't able to pay the bills. However, there are additional ways a person may qualify for this type of relief.
"We offer Chapter 7 bankruptcy help for individuals who qualify. For those who don't qualify under the means test, we explain the other ways a person may qualify. Furthermore, if chapter 7 is found to not be an option for the debtor, we offer help in other ways. For example, a person who does not qualify for chapter 7 bankruptcy may find they can choose chapter 13 and obtain needed relief," Kerr continues.
Chapter 13 bankruptcy is designed to reduce the amount of debt a person owes or to extend the repayment time a person has to clear the debt. This may be of great help to someone, for example, who lost their job and was unable to meet their obligations. They have now obtained a new job and can pay the debt once again. Nevertheless, they are struggling to get caught up so they may do so.
"Speak to an Attorney Chapter 13 bankruptcy advisor. He or she can determine which option best meets the needs of the debtor based on his or her specific situation. With this information, a debtor finds they can determine the best course of action so they can get the fresh financial future they desire," Kerr states.
About South Tulsa Bankruptcy Lawyers:
South Tulsa Bankruptcy Lawyers works with individuals who are unable to meet their bills and have had or will be facing repossession, foreclosure, garnishments, and judgments. The law firm offers a free consultation with one of the bankruptcy attorneys that is totally confidential. Clients are never shamed and leave the consultation feeling empowered and hopeful as they know the options available to them.
Release ID: 396498