Oklahoma Legal News

How Will Bankruptcy Affect My Credit? The most significant concern among Americans struggling with overwhelming debt is that bankruptcy will destroy their credit. What these people may not know is that simply not paying their bills may have more of a negative effect on their credit report than filing for bankruptcy does. Collection agencies may include any and all collection ...

Read More of - Don’t Believe the Myths – File Bankruptcy If It’s Your Best Option

According to a new study from the Fred Hutchinson Cancer Research Center, people diagnosed with cancer are nearly three times as likely to declare bankruptcy than those without cancer. The study authors also found that younger cancer patients had two- to five-times higher bankruptcy rates than older patients, and that overall bankruptcy filings increased as time passed following a cancer diagnosis. If you are struggling with overwhelming debt, including costly medical bills, consult our reputable attorneys to discuss your legal options. You may be eligible for bankruptcy protection, in which you can discharge your debt or reorganize it into a manageable repayment plan. Our lawyers have extensive experience helping Oklahomans file for bankruptcy, and can help you make the best decision for your financial situation.

Even as our economy slowly begins to rebound from the recent recession, Americans across the country are finding themselves facing a difficult financial situation, in many cases the result of being out of work for a significant amount of time, or having the value of their homes unexpectedly plummet. To deal with money problems during the recession, some Americans relied on credit cards, others took out home equity loans, and other still just stopped paying their bills, leading to foreclosure or collection actions. What many people did not consider during this time was filing for bankruptcy, largely because they were unsure how bankruptcy would affect them in the future. Don't let inaccurate bankruptcy myths prevent you from pursuing the fresh financial start you deserve. Contact our lawyers at Oklahoma Legal Center today if you are considering filing for bankruptcy in Oklahoma.

Read More of - Don’t Let Bankruptcy Myths Prevent You From Filing in Oklahoma

Bankruptcy is a good option for many Oklahomans struggling with overwhelming debt, but some debtors just don't have the funds necessary to seek bankruptcy protection from the court. Under these circumstances, the debtor may consider taking out a personal loan to cover bankruptcy expenses in hopes that that debt too, can be discharged in bankruptcy. However, there are a number of factors that need to be considered should you choose to take this route. If you are considering filing for bankruptcy in Oklahoma, your first course of action should be to contact our reputable attorneys at Oklahoma Legal Center for legal guidance. With our experienced lawyers on your side, you can consider all of your bankruptcy options and make the best decision for your individual financial situation.

Read More of - Can I Take Out a Personal Loan to File for Oklahoma Bankruptcy?

In some cases of bankruptcy in Oklahoma, the filer forgets to include a creditor in his or her bankruptcy. This isn't a common occurrence, because bankruptcy filers are typically reminded by their attorneys to be very thorough in making sure they have listed all of their creditors. A good bankruptcy attorney will also take steps to prevent this error, including obtaining the filer's credit reports. However, even the most diligent individual sometimes forgets a creditor, so it's important to understand what steps you need to take if this happens to you. If you are considering filing for bankruptcy in Oklahoma, your first course of action should be to enlist the help of our qualified attorneys at Oklahoma Legal Center. With our reputable lawyers on your side, you can ensure that you take all the steps necessary to file a successful bankruptcy.

Read More of - What if I Forget to List a Creditor in My Oklahoma Bankruptcy?

Filing for bankruptcy in Oklahoma will be one of the most important financial decisions you make in your life, and, while bankruptcy can allow you a fresh financial start, it can also affect your credit report for a period of time. Because of this, it is extremely important to understand that success in bankruptcy means ensuring that the advantages of filing for bankruptcy protection outweigh the disadvantages. Here at Oklahoma Legal Center, our attorneys are dedicated to helping individuals throughout Oklahoma enjoy bankruptcy success and get a fresh financial start by discharging their debt and making smart financial decisions going forward. The following are five important steps to bankruptcy success in Oklahoma.

Read More of - 5 Steps to Bankruptcy Success in Oklahoma

According to a recent report issued by the U.S. Census Bureau, more American are debt-free today than in 2000. However, those who have debt owe nearly 40% more than in 2000, with the biggest percentage increase in debt being among seniors. The percentage of households in the U.S. carrying any debt decreased to from 74% in 2000 to 69% in 2011, the report showed, but the median debt load increased to $70,000, a significant increase from an inflation-adjusted $50,971. In the meantime, debt owed by seniors doubled to a median of $26,000. If you are struggling with overwhelming debt and you are considering filing for bankruptcy in Oklahoma, consult our knowledgeable lawyers at Oklahoma Legal Center to discuss the best option for your financial situation.

Read More of - Fewer Debtors in the United States, But Debts Owed Higher

Filing for bankruptcy is a common occurrence in today's economy. However, bankruptcy still carries a negative stigma with most people, who often assume the reason for a person's bankruptcy is irresponsibility, laziness or some sort of dishonesty. In many cases, this stigma may result in the person filing for bankruptcy to give up on ever qualifying for a mortgage or owning a home. On the contrary, recovering from bankruptcy and qualifying for home ownership may happen in less time than you think. If you are considering filing for bankruptcy in Oklahoma, and you have questions about how this could affect your ability to qualify for a loan and buy a home in the future, consult our knowledgeable attorneys at Oklahoma Legal Center today.

Read More of - Buying a Home After Bankruptcy in Oklahoma

For graduates in the process of repaying student loans, it is extremely important to understand the consequences of defaulting on their loans. To default means you have failed to make payments on your student loan as scheduled according to the terms of your promissory note, which is the binding legal document you signed when you initially took out your loan. If you are struggling to repay your student loans and other forms of debt, such as a mortgage or car loan, filing for bankruptcy may be a good option for you. Consult our reputable bankruptcy lawyers at Oklahoma Legal Center today to discuss Chapter 7 and Chapter 13 bankruptcy, and to determine what steps you can take to relieve your overwhelming debt.

Read More of - What Does it Mean to Default on Your Student Loans?

The unfortunate truth is that, for couples struggling with financial problems, bankruptcy and divorce often go hand in hand. In fact financial difficulties are one of the leading causes of marital problems and divorce in Oklahoma today. And if you are having a hard time paying your bills now, just imagine what it will be like once you get a divorce. Your household income will decrease significantly when your spouse leaves, and you'll also be forced to cover all monthly living expenses on your income alone. If you and your spouse are considering filing for divorce, and you want to know the pros and cons of filing bankruptcy together now or individually after, consult our knowledgeable bankruptcy attorneys at Oklahoma Legal Center today. With our lawyers on your side, you can make the right bankruptcy choice and feel confident that your legal rights are protected throughout the process.