Chapter 7 Debt Discharge for Individuals, Couples and Business owners!
Bankruptcy Chapter 7 is called a fresh start because it allows persons to discharge all of their debt and have a fresh start! It provides immediate relief and is about a 90 day process from filing date to discharge.
ALL of your debts except some Taxes, Student Loans, Child Support and Drunk Driving Debt can be discharged. Even the debt you personally owe for your business or house and your car is discharged.
Debts that Business Owners, Sole Proprietors, Partners and Self Employed Persons have personally guaranteed or owe are also completely discharged in chapter 7! Your attorney will explain how Bankruptcy 7 strips debts but not secured liens and how you can keep your house and car.
If you are considering filing for a Chapter 7 Bankruptcy in Oklahoma it is important to talk to an experienced Tulsa Oklahoma Bankruptcy Attorney to see if you qualify under the new Bankruptcy Reform Act of 2005.
Before You Transfer Assets or Drain Your Retirement Call Us!
Most of your assets are protected by State Exemptions if Properly Claimed on the Schedules. Others may be abandoned by the US Trustee. Others are secured by a lien. An experienced Bankruptcy Lawyer can help you determine what assets are at risk and what your options are.
Transfer Property into a Friend, Family Member or Business Associates Name within a Year Prior to Filing bankruptcy!
Sell your Asset for Less than Market Value Which May be Considered an Illegal Transfer by the Court!
Pay Family Members for Debts Owed to Them in the Year Prior to Filing Bankruptcy!
Pay Off Some Creditors But Not Others Right Before Filing Bankruptcy!
Charge More Than $600 on any Credit Card 90 Days Prior to Filing Bankruptcy!
Spend a Tax Refund Without Consulting with a Bankruptcy Lawyer!
Drain Your Retirement Accounts or Borrow from Home Equity To Pay Unsecured Debt!
To Talk To Our Tulsa Bankruptcy Lawyers
For Your Best Bankruptcy Options In Oklahoma!
To qualify for a Chapter 7 bankruptcy, you must have little disposable income. The amount you earn should be approximately the same as your expenses for housing, car payments, food, utilities, insurance and other expenses.
Our attorneys will do the “means test” calculation to determine if you are eligible to file under Chapter 7. Online forms and paralegals can not accurately determine if you qualify because there are many variables and usage of national standards as well as income variations that can affect whether you qualify or not.
Filing for bankruptcy Chapter 7 will stop creditors from harassing you with calls, lawsuits, wage garnishing, or the threat of repossession. As soon as a petition is filed, the automatic stay halts creditor activity.
Chapter 7 bankruptcy allows a debtor to discharge all debts except tax debt under three years old, child or spousal support, and guaranteed student loans.
Business Owners and Self Employed Persons can file bankruptcy chapter 7 and eliminate debt that was personally guaranteed or is personally owed on behalf of the business. Mark Robinson has a business degree and taught business law at Oral Roberts University. He has the experience to help small business owners and self employed through the process of chapter 7.
Contact us at Robinson Law PC today to get started on your “fresh start”!