Convenient Bankruptcy

At Convenient Bankruptcy, we take a comprehensive team-based approach to handle every case, ensuring a swift resolution with the utmost quality for each client. Our Oklahoma chapter 7 bankruptcy attorneys are dedicated to meticulously preparing petitions and schedules that meticulously detail your income, debts, and assets for submission to the bankruptcy court. In the course of proceedings, a court-appointed bankruptcy trustee oversees the case, primarily tasked with ensuring the equitable distribution of any available assets to creditors. However, the majority of Chapter 7 filers retain their property, as certain assets are exempt, providing a safeguard against creditor claims.

Chapter 7 bankruptcy serves as a vital lifeline for individuals drowning in credit card debt, medical bills, and other forms of unsecured debt. The bankruptcy process facilitates the discharge of most of these debts, relieving individuals of their legal obligations to repay them. It offers a genuine opportunity for a fresh financial start, allowing individuals to break free from the burdensome shackles of overwhelming debt.

On the other hand, Chapter 13 bankruptcy, often referred to as “reorganization,” becomes a strategic choice for individuals seeking to halt foreclosures, address tax debts, or those who do not meet the eligibility criteria for Chapter 7 due to higher income levels. Unlike Chapter 7, Chapter 13 does not eliminate debt entirely; instead, it provides a structured framework for clients to repay a portion of their debt over an extended period. The repayment plan spans several years, featuring monthly payments that are more manageable than what most creditors would typically demand. This reorganization process offers individuals a viable pathway to regain control of their financial situation and work towards a more stable and sustainable future.