Oklahoma City Chapter 7 Bankruptcy Lawyer
The Bankruptcy Decision
When individuals face insurmountable debts they may need to seek relief through the bankruptcy process. Mitchell | Hammond is a bankruptcy firm with a proven record of helping individuals and businesses throughout Oklahoma. The unrelenting collection actions by creditors and the constant phone calls, emails and mail can make life almost unbearable. The filing of a bankruptcy offers relief to debtors because creditors must cease all collection activities at that point. For information about Chapter 7 bankruptcy and other options, contact Oklahoma City bankruptcy attorney who can provide you with legal advice and guidance throughout the bankruptcy proceedings. The first step is to have an attorney review your financials and help you make a choice whether bankruptcy is the right decision for your debt situation.
Information about Chapter 7
An individual would take a bankruptcy Means Test to determine the type of bankruptcy to pursue. Chapter 7 bankruptcy is the easiest, least expensive and fastest bankruptcy and the most appealing for many. The test would indicate whether Chapter 7 is an option for the debtor based on a formula that can vary in different geographic areas. For those who do not qualify, there are chapter 11 and chapter 13 bankruptcies. A chapter 7 bankruptcy allows an individual to discharge certain debts that can include:
- Credit cards, lines of credit and medical bills
- Promissory notes and personal loans
- Certain contract and lease obligations
It is important to have legal representation to protect the best interests and rights of the debtor during negotiations and all bankruptcy court proceedings including the steps of liquidation of non-exempt assets. This type of bankruptcy allows an individual relief from certain debt obligations and a chance to make a fresh start. Our attorneys can guide you through the bankruptcy process as well as advise you on rebuilding your credit and avoiding the same debt trap in the future. Make an appointment today for a consultation with a respected Chapter 7 bankruptcy lawyer from our firm.
Contact an Oklahoma City Chapter 7 b ankruptcy lawyer if you are drowning in debt and want to file a Chapter 7 bankruptcy.