What Can Chapter 7 Bankruptcy Do For You?

If you feel overloaded with debt, you may feel overwhelmed by the impossibility of paying back what you owe. Perhaps you lost your job and have had trouble securing a new one. Maybe you suffered a catastrophic injury and the medical bills set you way back. Perhaps you've had to live on credit cards while looking for work.

Whatever put you in this situation, we know you likely didn't purposefully plan on being here. If you're overwhelmed by debt, Chapter 7 bankruptcy may be just the solution you're looking for. Chapter 7 bankruptcy can:

  • Eliminate all of your unsecured debts like credit card debt, unpaid medical bills and personal loan debt
  • Stop creditors from constantly calling and harassing you
  • Prevent foreclosure on your house and repossession of your car
  • Stop wage garnishment so you can take home your full paycheck
  • Help you sleep better at night

Elton Jenkins, Attorney at Law, can help you determine whether filing Chapter 7 bankruptcy is the right solution to take care of your debt once and for all. Call our office in Norman at 405-928-8708 for a free initial consultation to see if you qualify for Chapter 7.

Combating Bankruptcy Myths

You may have heard myths about personal bankruptcy, like:

  • Bankruptcy means losing all of your stuff. On the contrary, no one's going to come and take all of your belongings. Most people can protect their homes, cars, family heirlooms and personal belongings using Oklahoma's bankruptcy exemptions.
  • Bankruptcy no longer exists. Although the federal government made some changes to bankruptcy law in 2005, bankruptcy still helps many people overcome insurmountable debts. Our lawyer will help you determine whether the "means test" applies to you and what your options might be otherwise.
  • Bankruptcy will ruin my credit forever. Not true. In fact, high amounts of unpaid credit card debt hurt your credit score far more than filing bankruptcy. Many people who file bankruptcy actually see their credit scores rebound quickly after getting a fresh start with Chapter 7.
  • Debt settlement works better. This depends, but debt settlement usually ends up costing you more than filing bankruptcy. Some debt settlement companies will even take your money and only pay back the interest on your loans, not the principle. That doesn't take care of the underlying problem. Bankruptcy eliminates all of your qualifying debts and accrued interest immediately upon the discharge of debt.

These are just some of the myths we combat everyday in our quest to help people regain their financial footing and obtain debt relief.

Call To See If You Qualify For Chapter 7

Contact us at 405-928-8708 for a free consultation to see if you qualify for Chapter 7 bankruptcy. We offer payment plans for those who may need them.

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.