Skilled, Caring Bankruptcy Attorney in Western Oklahoma
You may be in desperate need of debt relief to regain stability, but you are worried that you make too much money to get it. You may have heard that bankruptcy became a lot more difficult to file a few years back — or that bankruptcy only makes sense for people with little or nothing to lose.
In reality, personal bankruptcy is the best available solution for many who have substantial assets and income. Even those who cannot file Chapter 7 "liquidation" bankruptcy can get back on their feet by filing Chapter 13 bankruptcy. For straight answers from a lawyer who will thoroughly review your situation and present you with options, please call or e-mail us today. The Heaton Law Firm offers a free initial consultation.
Chapter 13 is different than what most people think of as bankruptcy. While it can eliminate a high percentage of your credit card balances and other unsecured debts, Chapter 13 is sometimes called "wage earner" or "reorganization" bankruptcy because it requires a repayment plan based on what you can afford. If you have regular, considerable income but too much debt, this can be the right way to go.
Make Bills Manageable Again — Avoid Home Foreclosure — Protect Critical Assets
Some of the reasons people in the Oklahoma City area and throughout western Oklahoma may opt to file Chapter 13 bankruptcy include the need to:
- Get out from under most of a large credit card debt burden, allowing use of your income to pay other bills including a mortgage
- Prevent or delay foreclosure on your home, as we develop a plan that may enable you to catch up on mortgage payments
- Pay "priority debts" such as child support and back taxes over time on a manageable schedule, without the pressure of possible wage garnishment or criminal penalties
- Avoid draining extremely important assets such as qualified retirement accounts
Serious financial problems can hit almost anyone, no matter how hard you work or how conscientious you are about meeting your obligations. The causes may include unexpected medical costs, divorce, an unfavorable home loan or failed investments.
The key for you may be finding a way to re-focus on the present and future, without overwhelming debt and stress. At the Heaton Law Firm in Edmond, we want to help.
