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What happens to credit card debt after a person files for bankruptcy in Tulsa, Oklahoma?

When an individual decides to file for bankruptcy and goes through the entire process, some or all of their credit card debt could be wiped away. The chances of having credit card debt wiped away depends on the type of bankruptcy a person chooses…
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Tulsa, Oklahoma, Will bankruptcy wipe a credit report clean?

While there are many advantages to filing for bankruptcy when the right circumstances are present, there are certain things filing for bankruptcy won’t do. For instance, while bankruptcy can provide an individual or business with a clean slate…
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Oklahoma Residents Who Are Drowning in Debt May Benefit from Filing for Bankruptcy

In 2019, consumer debt reached a record high, according to Experian. The consumer credit reporting company says that during this year, consumer debt was estimated to be $14.1 trillion, and that number may have since increased. The total debt…
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Tulsa, Oklahoma, Ways to Rebuild Credit After Bankruptcy

 Credit allows individuals to borrow money from banks, lenders, credit card companies, etc. so they have access to funds when they need them. Credit allows individuals to buy cars, homes, and rent property. Establishing good credit and maintaining…
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Can a company in Tulsa, Oklahoma still operate if it files for Chapter 11 bankruptcy?

When a company in Oklahoma files for Chapter 11 bankruptcy, it may continue with its operations, although they may be modified to some extent. Instead of a company having to liquidate, it uses Chapter 11 bankruptcy as a way to reorganize. Companies…
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Tulsa, Oklahoma, Are there ways to avoid filing for bankruptcy?

When an individual or business has accrued too much debt and cannot afford to pay it back, they might consider filing for bankruptcy. There are different types of bankruptcies a person can file for however, those who choose this route can expect…
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Initial Steps to Take if You’re Considering Filing for Bankruptcy in Tulsa, OK

For some, bankruptcy wipes away most, if not of all of their debt, providing them with a clean slate to work with. For others, bankruptcy allows for reorganization so that an individual and/or business is able to get a better handle on their…
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Can I have my federal student loans discharged if I declare bankruptcy in Tulsa, Oklahoma?

When a person files for bankruptcy, certain debts are discharged, meaning the individual is no longer obligated to pay them. Once a debt is discharged, the creditor who the money was initially owed to is prohibited from taking any sort of action,…
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Could a Second Wave of COVID-19 Cause More Businesses to File for Bankruptcy?

Industry experts are saying it’s likely.   The COVID-19 pandemic has pushed thousands of businesses past the point of no return. While some businesses shuttered and never reopened after government-ordered shutdowns were lifted,…
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Oklahoma, Chaparral Energy Files for Chapter 11 Bankruptcy After COVID-19 Pandemic Lowers Demand for Oil

While the COVID-19 pandemic has increased the need for reliable healthcare workers, it has caused the demand for oil and gas to decline. With fewer people traveling on commercial flights in an effort to help curb the spread of COVID-19, companies…
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Oklahoma, Stein Mart, Inc. May Close All of Its Brick-and-Mortar Stores After Filing for Chapter 11 Bankruptcy

The COVID-19 pandemic has pushed several large and small businesses into filing for bankruptcy and Stein Mart, Inc. has joined the growing list. On August 12, 2020, Stein Mart, Inc. announced that it voluntarily filed for Chapter 11 bankruptcy…
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Hertz Must Sell Nearly 200,000 Cars as a Part of its Chapter 11 Bankruptcy Deal

One of the advantages of filing for Chapter 11 bankruptcy is that it allows for a business to reorganize itself and pay its creditors over time. Rather than having to shut down all operations, a business is given the opportunity to stay alive…
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Tulsa, Oklahoma, Three Famous People Who Filed for Bankruptcy and Bounced Back

If you’re worried that filing for bankruptcy will hurt your reputation and harm your chances of being successful in the future, perhaps this article is for you. While no one dreams of ever having to file for bankruptcy, sometimes, the circumstances…
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Parent Company of New York & Co. Files for Chapter 11 Bankruptcy and Many Stores Could be Closing Because of It

New York & Co. has become a staple in shopping centers and malls across the U.S. Unfortunately, the women’s fashion retailer may no longer be a part of most mall directories in the coming months as all 400 stores could be closing. According…
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Retailer Lucky Brand Files for Chapter 11 Bankruptcy as a Result of the COVID-19 Pandemic

The COVID-19 pandemic has pushed yet another well-known company into filing for bankruptcy—Lucky Brand Dungarees LLC, according to USA Today. The company, which currently has about 200 Lucky Brand stores in North America as well as merchandise…
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Chapter 12 Law Firm in Tulsa, Oklahoma

The Henson Law Firm is a Bankruptcy law firm in Tulsa, Oklahoma. Chapter 12 bankruptcy is reserved for family farmers and fishermen. With Chapter 12 bankruptcy, family farmers and fishermen are given the ability to develop a payment plan…