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

Why Do I Need A Bankruptcy Attorney?

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

You have the right to represent yourself before the bankruptcy court. However, bankruptcy is a complicated procedure requiring attention to detail and knowledge of bankruptcy laws in order to achieve the best outcome. The laws are complex and subject to change. A single mistake can cause major legal and financial problems for you. A bankruptcy lawyer can advise and assist … 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

Common Bankruptcy Terms

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

The “Means Test” Here’s a simple explanation of how the means test, or whether or not your bankruptcy case will be allowed by the courts, works: If your family’s gross income is below Oklahoma’s published median income for your size of family, then the means test does not apply to you and your bankruptcy filing will not be challenged as a substantial … Read More

How Much Does Bankruptcy Cost?

by Paul R. Tom Basic Bankruptcy Information

We want to give you a true and correct look at your costs for filing a Chapter 13 or Chapter 7 bankruptcy in Oklahoma. Be aware that many attorneys will advertise or quote you a low price, and then tell you that your costs will be higher because of “your specific situation” or because they don’t include court filing fees … Read More

When is a Chapter 13 Bankruptcy Preferable to a Chapter 7 Bankruptcy?

by Paul R. Tom Basic Bankruptcy Information, News, Updates, Law Changes

Chapter 13 is usually preferable to a Chapter 7 when you need or want to reorganize and repay your debts. Examples include preventing repossession of your car, foreclosure of your home, taxes, fines, restitution, student loans, and child support delinquencies, as well as getting your driver’s license back. When your home is set for foreclosure sale because you are behind … Read More

Launching the Oklahoma Bankruptcy Blog

by Paul R. Tom News, Updates, Law Changes

We know you have questions, and probably wonder whether you’re alone. You’re not. We promise you… after thousands of Oklahoma bankruptcy cases, we know the unexpected, the unplanned, the plain old unfortunate and a variety of other reasons and situations put good people in the position of needing to declare bankruptcy. The federal bankruptcy laws exist for just that reason: … Read More