(888) 676-7128

Need Affordable Bankruptcy Lawyer in Oklahoma
Talk to legal rep NOW. Submit your details to connect with a legal provider.

Oklahoma Bankruptcy Laws

HomeBankruptcy OklahomaOklahoma Bankruptcy Laws

Oklahoma Bankruptcy Laws provides unique provisions while filing for bankruptcy.

Chapter 13 allows a petitioner to file a plan.

This plan should detail information concerning payments of certain past dues, current debts and other debts over 3-5 years.

Chapter 13 bankruptcy can be considered in cases where a home is owned,

but there is a risk of losing it due to money problems.

It can be also resorted when debts are required to be cleared off within a certain time frame.

 

Bankruptcy under Oklahoma Bankruptcy Laws

  • Chapter 7; – “Straight Bankruptcy”.

The debtor is required to give up certain property exceeding certain limits, so that property can be sold to make good certain creditor’s payme

  • Chapter 11; – “reorganization”.

It is resorted in case of huge debts- in case of individual debtors and certain businesses

  • Chapter 12; – “family farmers”.

It is prima facie designed for enabling the homemaker to protect his debts effectively

  • Chapter 13; – “debt adjustment”.

It requires debtor to file a debt payment plan, detailing payments from current income

Important: The articles available on uslawyer.us are neither legal advice nor a replacement for an attorney. The contents are general information and guidance concerning different legal issues. We make sure that these articles prove helpful to you, but we do not promise or guarantee that they are suitable for your condition. We also do not take responsibility for any loss that might cause to you using these articles. Hence, we strictly suggest you get expert legal advice. It is also recommended to consult or hire an attorney in case of any doubt.