Online bankruptcy portals may seem like a convenient way to file bankruptcy. Other Tulsa and Oklahoma bankruptcy attorneys know there are pitfalls with doing so- it’s always better to work with an attorney who has the experience and competence to do your bankruptcy right.
How Bankruptcy Works
Bankruptcy is a legal process that helps people who can’t pay their debts get a fresh start by liquidating their assets to pay off their creditors.
When you file for bankruptcy, an automatic stay goes into effect that stops creditors from trying to collect on your debts. This gives you some breathing room to reorganize your finances and work out a repayment plan.
There are two types of bankruptcy that consumers can file: Chapter 7 and Chapter 13.
In a Chapter 7 bankruptcy, also known as liquidation bankruptcy, your non-exempt assets are sold off to pay your creditors. If you don’t have any non-exempt assets, your creditors will get nothing. After your debts are paid, the remainder of your debt is discharged, meaning you’re no longer legally obligated to pay it.
In a Chapter 13 bankruptcy, also known as reorganization bankruptcy, you create a repayment plan to repay your debts over three to five years. Once you’ve made all the required payments, the remainder of your debt is discharged.
Filing for bankruptcy is not an easy decision, but it can give you the fresh start you need to get back on track financially. If you’re considering filing for bankruptcy, speak with a bankruptcy attorney Tulsa to learn more about how it works and whether it’s right for you.
What to Expect
When you file for bankruptcy, you can expect your Tulsa bankruptcy attorney to be there for you every step of the way. Your attorney will help you choose the right type of bankruptcy for your situation, and will guide you through the entire process.
You can also expect your Tulsa bankruptcy attorney to help you protect your assets and property. Your attorney will work with you to create a repayment plan that is fair and affordable and will make sure that all of your creditors are treated fairly.
Most importantly, when you file for bankruptcy, you can expect your Tulsa bankruptcy attorney to help you get back on your feet financially. Your attorney will work with you to discharge your debts, rebuild your credit, and get you back on the road to financial stability.
Why Hire a Tulsa Bankruptcy Lawyer?
When it comes to filing for bankruptcy, many people try to go it alone. However, the process is complicated and can be overwhelming. Having an experienced Tulsa bankruptcy lawyer on your side can make all the difference. Here are four reasons why you should hire a bankruptcy attorney:
- Knowledge and experience. A good bankruptcy lawyer will have extensive knowledge of the bankruptcy process and know all the ins and outs. This can be extremely helpful, especially if you have complex financial issues. An experienced attorney will also be familiar with the bankruptcy court in your area and know how to best navigate it.
- Peace of mind. Filing for bankruptcy is a stressful process. Having an experienced Tulsa bankruptcy lawyer by your side can give you peace of mind knowing that someone is looking out for your best interests and knows how to handle the complexities of the process.
- Save time and money. An experienced Tulsa bankruptcy lawyer will know how to efficiently navigate the bankruptcy process and get you the best possible outcome. This can save you a lot of time, money, and stress in the long run.
- Get back on your feet sooner. A good Tulsa bankruptcy lawyer will work with you to come up with a solid plan for getting your finances back on track. This can help you get back on your feet faster and make a fresh start.
If you’re considering filing for bankruptcy, don’t go it alone. Hire a Tulsa bankruptcy lawyer to help you through the process.
If you’re considering filing for bankruptcy, it’s important to know that you have options. Your Tulsa bankruptcy attorney can help you explore all of your options and find the best solution for your unique situation. Filing for bankruptcy is a major decision, but it doesn’t have to be a frightening one. With the help of a knowledgeable and experienced Tulsa bankruptcy attorney, you can get through this process and come out on the other side financially free.