Chapter 7 Bankruptcy: Is It Right for You?
If you are struggling with a crippling load of debt, you may feel that you have no good options for eliminating your debt and getting back on your feet. For many consumers struggling with credit card or medical debts, Chapter 7 bankruptcy is the best option available for finding the debt relief they need.
At Dana M McDaniel in Tulsa, Oklahoma, we understand that sometimes good people are hit by hard economic times, and it is not their fault. Our goal is to help you achieve the relief and peace of mind that comes with a fresh start to your finances. We look forward to getting to know you on a personal level, so that we can better meet your unique needs.
Looking for debt relief? Call 918-925-9312 or toll free 866-481-0225 today to discuss your bankruptcy options with Dana McDaniel, our compassionate bankruptcy attorney.
What Is Chapter 7 Bankruptcy?
Chapter 7, or liquidation bankruptcy, results in the discharge of most unsecured debt obligations. As a part of the Chapter 7 process, in many cases you will be able to keep all of your property because state law allows for many exemptions. The Chapter 7 process typically takes between four and six months and will result in the discharge of all of your unsecured debts with a few exceptions including student loans and child support.
Are You Eligible?
There are a variety of factors that go into determining a person's eligibility for Chapter 7 bankruptcy. There is a means test to determine whether your income is more than Oklahoma's median income. If so, it can be more difficult to file for Chapter 7. You may also be ineligible if you have filed for Chapter 7 bankruptcy within the last eight years or Chapter 13 in the last six.
Putting a Stop to Creditor Harassment
One of the most daunting aspects of being deep in debt is dealing with harassment from creditors and collection agencies. When you file Chapter 7, an automatic stay is immediately in place, stopping creditors from garnishing your wages, going after your property or engaging in other collections activities.
Get the Debt Relief You Need
Even if you do not qualify for Chapter 7 bankruptcy, you may be able to qualify for debt relief through a Chapter 13 bankruptcy plan. Contact our firm today to discuss your options with a knowledgeable bankruptcy lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.