Getting a Fresh Start
Are you having trouble overcoming your debt? Are your credit cards maxed out? Are you inundated with collection calls from persistent debt collectors? Debt is easy to get in but hard to get out of. Fortunately, it’s not impossible. One way to get out of debt is to file for bankruptcy.
It may seem like a big step. That’s because it is. You have other options, too. To learn more about bankruptcy and its alternatives, contact the bankruptcy attorneys at Wirth Law Office – Wagoner. They understand what bankruptcy entials and can help you decide if it’s right for you.
You Can Silence Debt Collectors
Are debt collectors harassing you day and night? Do you dread their calls and fear they’ll come to your home? When you file for Chapter 7 bankruptcy in Oklahoma, these calls will stop. You’ll have the space and peace you need to address your financial difficulties.
The Wagoner bankruptcy attorneys from Wirth Law Office can get you started on the process of filing for Chapter 7 bankruptcy.
You Could Halt Garnishments
Do income garnishments take money out of your paychecks? Are you afraid to put money in the bank because you think you’ll lose it? Luckily, you may be able to halt these garnishments by filing for bankruptcy. You can get your finances back on track.
In Oklahoma, there are two primary types of bankruptcy. Chapter 7 is more common because it’s faster and simpler than Chapter 13. Chapter 7 bankruptcy benefits include:
- Keeping your vehicle if you stay up-to-date on payments
- Keeping your home if you stay up-to-date on payments
- Restructuring your budget so you can pay off the debts Chapter 7 doesn’t cover (such as student loans, back taxes, alimony, and child support)
- Eliminating your debts (including credit cards, medical bills, business debts, and repossession and foreclosure deficiencies)
Chapter 7 Bankruptcy Qualifications
Chapter 7 bankruptcy could be the solution you’ve been looking for to get out of debt and start fresh. However, it does have qualifications. Because of the Bankruptcy Abuse Protection and Consumer Protection Act that Congress passed in 2005, Oklahoma courts are required to thoroughly examine your income and capability of repaying debts.
In order to qualify for Chapter 7 bankruptcy, your income has to be below Oklahoma’s median per household size. The current amount for a single-person household is around $48,500. It goes up to about $63,000 for a two-person household. For a three-person household, it’s close to $67,000, and it’s near $78,000 for a four-person household.
While you may not qualify for Chapter 7 bankruptcy, you still have the option of filing for Chapter 13 bankruptcy. In Wagoner, you may qualify for either Chapter 7 or Chapter 13 bankruptcy even if you have a criminal record.
Chapter 7 Bankruptcy Filing
Whether you’re still exploring your options or ready to move forward, it’s important to know how to file for bankruptcy. The experienced bankruptcy attorneys at Wagoner’s Wirth Law Office can share their knowledge with you and answer your questions.
For anyone who has filed for bankruptcy in the past, you must wait eight years before filing again. Once you’ve met the qualifications for filing for Chapter 7 bankruptcy, you can take the next step. You’ll have to complete debtor education sessions and a credit counseling course. These tolls will aid you in building a better financial future.
If you’re considering filing for Chapter 7 bankruptcy, you should know how long it takes in Oklahoma. The average timeframe is three to four months.
Before you file, you should look at some other options you have. A few alternatives are negotiating agreements with creditors, combating illegal debt collection practices, taking credit counseling, and restructuring your budget.
Free Consultation with a Wagoner Chapter 7 Bankruptcy Attorney
Bankruptcy is not something that should be handled lightly. You want to be sure of your decision before you move forward. The bankruptcy attorneys at Wirth Law Office – Wagoner can advise you based on your situation. Whether you’re ready to file or want to know more about your alternatives, you can contact our attorneys for expert counsel. For a free consultation, call (918) 485-0335 or fill out the form at the top of the page.