Download the complete 2017 Bankruptcy Guide to get all of the details it contains so you can get the answers you need to determine the pros and cons of a filing for bankruptcy in Tulsa.
The decision to file bankruptcy is never an easy one. It is a decision filled with emotion about whether filing for bankruptcy means you are a failure. But the things to remember when facing this tough decision is that tough times never last but tough people do.
The important thing is to get good advice from an experienced Bankruptcy Attorney Tulsa so that you know the truth about bankruptcy.
You see, there are many myths about bankruptcy and most people don’t know the truth. Why we have a bankruptcy law, how it works, who it is intended to help and protect are all important things you need to know if you are contemplating filing bankruptcy in Tulsa.
This is why speaking to an experienced, knowledgable and compassionate Bankruptcy Attorney Tulsa is the first step in separating fact from fiction when it comes to bankruptcy. Without knowing the truth about bankruptcy, you can never know if it is the right thing for you to resolve your debt problems and get a fresh start in your financial life.
If you live in the Tulsa, Oklahoma area and are considering filing for bankruptcy, there are many things you need to know and consider but the first and most important things is this:
A common myth that any Bankruptcy Attorney Tulsa will immediately dispel for you is the commonly held belief that people who file for bankruptcy in Tulsa just don’t want to pay their debts.
Certain people actually believe that bankruptcy is just a way to get out of paying what you owe. They often say things like:
Are there some people out of the several million people who file bankruptcy in the United States that intended to file bankruptcy when they were racking up their debts?
Very few. In fact, most people who file for bankruptcy in Tulsa had plenty of income to pay whatever debts they incurred at the time they incurred them.
99% of people who file for bankruptcy do so because they have had a drastic change of circumstances in their life. Any Bankruptcy Attorney Tulsa will tell you that the people they represent in bankruptcy cases in Tulsa had something happen in their lives that changed everything.
The most common reasons people in Tulsa file for bankruptcy are:
Any experienced Bankruptcy Attorney Tulsa will tell you that people who file for bankruptcy in Tulsa tried everything they could to get back on their feet and pay their debts. Some people are able to hold on and turn things around and avoid filing for bankruptcy. But for some, the timing does not work out that way and they simply cannot continue to live every day in despair from debts they can no longer repay.
That is why several million people a year file for bankruptcy protection…not to get out of paying their debts, but to get relief from debts once they have tried every way possible to pay their debts.
Any honest Bankruptcy Attorney Tulsa will tell you that the good news is that the federal bankruptcy law can sometimes be the only solution when life has become overwhelming and honest people in Tulsa need the fresh start bankruptcy has to offer.
The actual text of the bankruptcy law itself contains the words “fresh start” for a reason.
The bankruptcy law is intended to help honest people who find themselves under the weight of unmanageable debt for whatever reason, a path to being free from debt, getting a fresh start and being able to enjoy a productive and happy life going forward after a bankruptcy discharge.
It has been provided for in the United States Constitution from day one and in fact, 5 U.S. Presidents have filed for bankruptcy (Thomas Jefferson, Abraham Lincoln, Ulysses Grant, Harry Truman & Donald Trump). Also, many successful business owners, like Walt Disney, filed for bankruptcy and then went on to make a huge contribution to the country and to the economy of the United States.
So what exactly is bankruptcy and what happens in a bankruptcy case? Quite simply, bankruptcy is a legal proceeding that helps people get debt relief who can no longer pay all of their debts and have done nothing wrong.
If you are considering bankruptcy, this video from the U.S. Bankruptcy Court will give you some excellent basic information about the process, the relief it offers, and how to find the legal help you may need.
The best way to find out if bankruptcy can help you and how your specific situation would play out in a bankruptcy case is to consult with and hire a Bankruptcy Attorney Tulsa who is experienced in handling bankruptcy cases in Tulsa, Oklahoma.
Most of us can usually tell within about five or ten minutes of talking with someone whether they know what they are talking about. We can also tell within about five or ten minutes whether we feel comfortable with that person and whether they have a good heart and are compassionate toward others.
Apply this same standard when you meet with a Bankruptcy Attorney Tulsa and you will hire the right lawyer to advise you in your Tulsa bankruptcy case. Knowledge and trust are the biggest factors to consider.
Beyond that, when you meet with a Bankruptcy Attorney Tulsa, the conversation should always begin with determining whether bankruptcy can even help you in your current situation, what type of bankruptcy case you should file and whether you qualify for bankruptcy relief.
When does someone need a lawyer for a bankruptcy case? While it is true that, as in all legal cases, individuals have a right to represent themselves in court, it doesn’t mean they should. Bankruptcy is a complex area of the law that involves many considerations including whether to file at all, what chapter to file under, and what exemptions to claim in order to keep assets you entitled to keep.
This video from the U.S. Bankruptcy Court explains that while you could file for bankruptcy without a Bankruptcy Attorney Tulsa, you would probably not be wise to do so.
So do not make the mistake of thinking that you can file bankruptcy without the help of a good and experienced Bankruptcy Attorney Tulsa. Bankruptcy looks “basic” to many but the truth is that is a highly technical and complicated area of the law.
It costs more to fix a bad and wrongly prepared bankruptcy case than it does to hire the right Bankruptcy Attorney Tulsa to prepare the case the right way and represent you throughout the process.
Pure and simple, hire the best Bankruptcy Attorney Tulsa and you will not have to worry about things going wrong. The old expression “Well Begun is Half Done” could not be more true in a Tulsa bankruptcy case.
Not hiring a good Bankruptcy Attorney Tulsa would likely mean complications and potential disaster and you have already been through enough stress by the time you make the decision to file for bankruptcy.
When you meet with a Bankruptcy Lawyer Tulsa and the answer to the question of whether filing for bankruptcy will help you is based upon a number of important factors, including:
There are different requirements under the different chapters of the bankruptcy law and a lot depends upon your income, your assets, recent events and the nature of your debts. So getting advice from a qualified and experienced Bankruptcy Attorney Tulsa is the best way to know what your best option is or whether you should even file for bankruptcy based on your individual situation.
Many people mistakenly believe that you lose everything you own when you file for bankruptcy. This is simply not true! Under a Chapter 7 bankruptcy, there are certain types of assets that you get to keep. We call these “exempt” assets because they are exempt from liquidation based on the specific exemption laws that govern your case.
Sometimes state law governs what assets are exempt in bankruptcy and sometimes federal bankruptcy law will govern which of your assets are exempt (protected) when you file for Chapter 7 bankruptcy.
The exemption law that governs your bankruptcy case will determine whether your home, cars, personal property such furniture, clothing, household goods, retirement accounts and other assets are exempt or protected and to what amount.
This is why it is so important to hire an experienced Bankruptcy Lawyer Tulsa who can determine exactly what you will get to keep in your bankruptcy case and what is subject to liquidation by the Trustee to pay your creditors.
Despite the best efforts of big banks and their lobbyists, the United States Bankruptcy law is still alive and well in Tulsa, Oklahoma. It can help residents of Tulsa who are overwhelmed by debt, facing foreclosure on their home or other financial issues.
With the help of an seasoned FLACMA Bankruptcy Attorney Tulsa to guide you through the process, it may be the best thing you ever do that you probably never wanted to do.
We hope you found this Bankruptcy Attorney Tulsa information on Bankruptcy helpful.
Download the COMPLETE 2017 ULTIMATE TULSA BANKRUPTCY GUIDE for much more information on filing for bankruptcy in Tulsa and how it works.
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