Weighing Your Options

We can all agree that paying rent, feeding your family and keeping the lights on is more important than reducing your debt. If you can’t afford your basic living expenses or have fallen behind and have no way to get back on track, Chapter 7 bankruptcy might be the best option. On the other hand, if you can afford to pay back some or all of your debt over time, you have choices. The following options are worth considering.

  • Debt consolidation loans can lower your interest rate.
  • Credit counseling can help you to create a plan and to establish financial goals.
  • Debt settlement reduces your balances, but you must pay off the remaining amount.
  • Chapter 13 bankruptcy requires partial repayment over three to five years.
  • Debt management plans can lower your interest rates, but you must repay your creditors.

If you recently lost your job or have suffered a disability and know that you can’t pay your bills, it pays to be proactive. Waiting will only create bigger problems. In addition to collection calls, you may face penalty fees and compounding interest rates as well as lawsuits and wage garnishment. Bankruptcy can stop these proceedings. If you don’t wait too long, you may have an opportunity to negotiate with your creditors.

Free Bankruptcy Consultations

If you’re considering bankruptcy or have questions about what to do next, contact me online or by calling 405-216-0007. I am an experienced attorney and former Chapter 7 trustee. I have focused on bankruptcy and debt settlement for the past 25 years, and I have helped thousands of clients in Oklahoma overcome debt. I will review your finances, discuss your goals and explain your options during the free initial consultation.

how-do-i-start

Schedule your consultation TODAY.

  • This field is for validation purposes and should be left unchanged.

Latest Articles

Oklahoma City-based Ascent Resources Marcellus Holdings LLC and its subsidiaries on Tuesday filed for bankruptcy protection to reorganize.

Ascent Resources Marcellus Holdings LLC, a shale driller founded by the late U.S. fracking pioneer Aubrey McClendon, said on Tuesday it had filed for Chapter 11 bankruptcy as part of a negotiated plan with lenders...

Read More...

Bon-Ton Stores file for Chapter 11 bankruptcy protection

Bon-Ton Stores is just one of the latest retailers to file bankruptcy. The filing Sunday makes Bon-Ton the largest retailer to file bankruptcy so far this year. It joins several dozen others that filed for Chapter...

Read More...

Toys R Us Closing up to 182 stores – including 2 in Oklahoma

Toy R Us filed documents in its bankruptcy case indicating that it may close up to 182 stores as part of its bankruptcy reorganization plans. Included in the list are 2 stores in Oklahoma - 1119...

Read More...

Nine West could be next retailer to file bankruptcy

According to various sources, Apparel retailer Nine West Holdings and its creditors are close to finishing a deal to restructure more than $1 billion of debt, which includes filing for bankruptcy and divesting parts of the...

Read More...
Reader's Choice 2017 award