If you’re having difficulty paying your bills and you meet certain requirements bankruptcy may be right for you. The Wagoner bankruptcy attorneys at Kania Law Office can help you rid yourself of most if not all of your unsecured debt. This includes garnishments, credit card, medical bills and more. Further, bankruptcy is not some debt consolidation scam. It is a federal program guaranteeing those that qualify receive debt relief. You don’t have to live in fear anymore. Take back your finances and get the fresh financial start you deserve.
Wagoner Bankruptcy Attorney:
At our Wagoner Bankruptcy law firm, we provide legal representation to Wagoner County residents that file for chapter 7 or chapter 13 bankruptcy. Chapter 7 bankruptcy allows a straight liquidation of all qualified consumer debts. Under chapter 13 bankruptcy, the petitioner must propose a debt repayment plan to the court in which he/she continues to pay on specific debts during a set repayment period (such periods typically last 3 – 5 years). As a result, at the end of the repayment period, all qualified debts discharge.
You must meet specific eligibility requirements in order to file a petition under both chapter 7 and chapter 13 bankruptcy:
1. Mandatory Credit Counseling:
All bankruptcy filers (chapter 7 and chapter 13) are required to complete a mandatory credit counseling course 180 days prior to filing their petition. Additionally, a second course must also be completed and submitted to the Court after the bankruptcy has been filed.
2. Means Test:
The petitioner must pass a means test determining if he/she qualifies to file for chapter 7 or chapter 13 bankruptcy.
The petitioner has an annual income higher than the state’s’ median average for their family size, then they will be barred from filing a chapter 7 petition, unless an exception applies.
When the petitioner owes less than $383,175.00 in unsecured debt and $1,149,525.00 in secured debt, then he/she may file for chapter 13 bankruptcy.
If you pass the requirements above, you can file for either chapter 7 or chapter 13 bankruptcy in order to have your debts discharged. Once we file your petition, you will be under the protection of the bankruptcy court. This means that creditors can no longer call you during the duration of your case to request payments for outstanding debts.
Upon successfully filing your chapter 7 petition, all consumer debts that qualify will be discharged. Upon completing your Chapter 13 repayment plan, all qualified debts will also be discharged.
What Debts Bankruptcy Eliminates:
A bankruptcy discharge will release you from any personal liability of qualified debts. No legal requirements require you to pay any debts once the court issues a permanent order to discharge. Note, chapter 7 and chapter 13 discharges occur at different times though. For chapter 7, the discharge of debts will occur upon the conclusion of the bankruptcy proceeding. A chapter 13 debt discharge, however, will occur upon the conclusion of the repayment period.
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Debts Forgiven in Chapter 7 Bankruptcy:
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- Credit card debts
- Collection agency accounts
- Medical bills
- Past due utility bills
- Limited student loan debts
- Business debts
- Civil court judgments (unless based on fraud)
- Consumer loans
- Limited income tax obligations
Debts Forgiven in Chapter 13 Bankruptcy:
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- Credit card debts
- Collection agency accounts
- Medical bills
- Personal loans
- Limited income tax obligations
Contact a Wagoner County Bankruptcy Attorney:
In addition to filing for bankruptcy, you may want to consider other debt relief options that better suit your particular circumstances such as consumer credit counseling, debt consolidation options, or debt negotiation or settlement. Contact Kania Law Office Wagoner bankruptcy attorneys to discuss your debt and relief options. We can provide you with legal advice and guidance regarding which debt relief options is best for you to pursue. We can help you start over and obtain a debt free life. Send an Email or Call 918-283.7394