Posts

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Is credit counseling required before filing for bankruptcy in Tulsa, Oklahoma?

If an individual is filing for personal bankruptcy in Tulsa, OK, they are required to obtain credit counseling from a government-approved organization within 180 days before they file their petition, according to the Federal Trade Commission.…
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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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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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What are the consequences of filing for bankruptcy in Oklahoma?

If you’ve accrued a significant amount of debt you can no longer pay back and have creditors taking legal action against you, you might be considering filing for bankruptcy. While bankruptcy will help you eliminate some of your debt and pay…
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Chesapeake Energy Corporation, an Oklahoma City-Based Company, Prepares to File for Bankruptcy

As the U.S. slowly emerges out of the COVID-19 pandemic, businesses are beginning to assess the losses they suffered to determine what their next move should be. While some businesses were lucky enough to withstand the financial hit their business…