General Federal Bankruptcy Information Sheet

by Paul R. Tom Basic Bankruptcy Information

BANKRUPTCY LAW IS A FEDERAL LAW. 
THIS SHEET GIVES YOU SOME GENERAL INFORMATION ABOUT WHAT 
HAPPENS IN A BANKRUPTCY CASE. THE INFORMATION HERE IS NOT COMPLETE. WHEN YOU FILE BANKRUPTCY: You can choose the kind of bankruptcy that best meets your needs: Chapter 7 – A trustee is appointed to take over your non-exempt property. Any non-exempt property of value will be sold or … Read More

At Your First Appointment

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

Your initial consultation is free. We review your financial situation for you and explain exactly which debts are dischargeable and which are not. If you then choose not to file, we won’t charge you for the initial consultation (it’s free). If you choose to file, we’ll explain all of the costs involved and make sure you understand the process. After … Read More

Starting The Bankruptcy Process

by Paul R. Tom Basic Bankruptcy Information, Myths and FAQs

Call LEGACY LAW CENTER at 918-743-2000 (Tulsa), 918-342-9188 (Claremore), or call toll free at 1-800-792-0929. The legal assistant will schedule a convenient appointment for you and ask you to bring in certain information and documents and you’ll meet with the Attorney for a free consultation. If you choose to go forward after consultation, you’ll pay the agreed upon fee and we will get … Read More

What is a Chapter 13 Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information

Chapter 13 is a type of federal bankruptcy proceeding available to individuals and sole proprietorship businesses used to reorganize or eliminate debt. You file a repayment plan with the bankruptcy court that provides for you to pay all, or a percentage, of your debts, usually over a three to five year period. The repayment plan, also called the “Chapter 13 … Read More

What is a Chapter 7 Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information

Chapter 7, or “fresh start” bankruptcy, is the most widely known form of bankruptcy. It is designed to eliminate unmanageable unsecured debt and to give you a fresh start. However, some debts cannot be eliminated, such as child support and alimony; criminal fines; debts arising from drunk driving or fraud; some tax debts, and student loans. As soon as a … Read More