Struggling with financial problems can cause a myriad of emotions. Some people may feel embarrassed by their money issues, and others may feel as if they have failed due to ending up in this difficult position. However, overwhelming debt can affect anyone, and rather than being embarrassed, Oklahoma residents may instead want to find their best options for getting back on track. For some, that may include filing for Chapter 7 bankruptcy.

Many people consider this option more seriously after exhausting other debt relief avenues. Still, it can be helpful to those who cannot get their finances handled on their own. Of course, parties will need to qualify for this type of bankruptcy, and that qualification includes passing a means test, which involves determining whether a person’s income is more than the median range of the state’s overall income levels.

A person looking to follow this debt relief route will likely also have to attend bankruptcy counseling before filing a petition with the court. This counseling works to help individuals better understand debt relief options and the pros and cons of filing for bankruptcy. This counseling must take place within 180 days before filing a petition with the court.

Understanding Chapter 7 bankruptcy can often help interested parties determine whether it is the right course of action for their cases. In addition to going through counseling, it is wise to obtain information from bankruptcy attorneys. These legal professionals can provide additional insight into the filing process as well as help throughout each stage of the legal proceedings.