Bankruptcy Law Firm Watonga, OK
As a trusted lawyer from a bankruptcy law firm Watonga, OK residents rely on knows, that deciding if bankruptcy is the right answer for you is not an easy question to answer. The team at Marty Martin Bankruptcy Law understands that filing for bankruptcy has many implications and while it may be a financially smart move, it can still have consequences that you are not expecting. This is why we believe it is so important for you to reach out to our firm as soon as you are considering bankruptcy. We would like to put your mind at ease regarding bankruptcy and give you the information you need so that you can determine whether this is a strategically wise move. Want to learn more? Reach out to our office to see what we can do for you.
Is bankruptcy the right answer?
There is no one algorithm that will determine whether bankruptcy is the right answer for you. While there are indeed formulas that can help show you which type of bankruptcy may be best, it is an extremely personal decision to file for bankruptcy and a decision that only you can make. As your trusted Watonga, Oklahoma bankruptcy law firm team knows, bankruptcy can be a fantastic tool if you are an individual or run a business and find yourself in a great deal of debt. By filing for bankruptcy, you may just find yourself starting fresh, whether it is through the liquidation of your assets or through restructuring your debt and finances.
Are there alternatives to bankruptcy if I am in debt?
Absolutely. Depending on your situation, bankruptcy may not be the right move for you and it could make more sense for you to go to credit counseling, to try to consolidate your loans, or even to try to negotiate with creditors regarding your debt and repayment. However, before making any decisions, it is a good idea to sit down and speak with your lawyer to see if those options are simply prolonging the decision to file for bankruptcy.
Do I need to give up my assets?
Not necessarily. When you come in for your consultation, you can expect your attorney to run through the different types of bankruptcy and explain which one may work better in your specific situation. There is a possibility that Chapter 7 bankruptcy would be the right option for you, in which case you may need to liquidate certain assets to get rid of debt. However, the other common option is Chapter 13 bankruptcy. This move calls on you to restructure your debts and create a repayment plan for them so that you can pay them off within 3 to 5 years.
While filing for bankruptcy can seem like an incredibly scary next move, it may be exactly what you need to move forward with your life. Do not wait any longer. Contact Marty Martin Bankruptcy Law to speak with our trusted Watonga, Oklahoma bankruptcy law firm team now.