Debt Attorney Oklahoma City, OK
Marty Martin Law is an established, experienced, and trusted Debt Attorney in Oklahoma City, OK. We help individuals get out of debt, improve their credit score, and get a fresh start. Being in debt can affect every other aspect of one’s life negatively. Nearly every one of my client’s health has deteriorated due to being in debt by stress, lack of sleep, being unable to focus, or unable to work. Also, as may not be a surprise, having too much debt can severely impact a marriage. Unfortunately, for those clients that retain my services too late once the stress of debt has already set it, divorce is far too often the result.
This can all be avoided, however. By hiring the right Debt attorney Oklahoma City, OK families recommend from Marty Martin Law; you can once a for all put that debt behind you and move on with your life. The process is much easier than expected by most. First, you will need to send me the last seven months of pay stubs, the previous two years of tax returns, the most current bank statements, and I will acquire your credit report. I will develop a budget for you while preparing your paperwork that will be filed. The court will then report to all of the creditors of your bankruptcy. At this moment, your bankruptcy protection kicks in. An injunction applies, which stops your creditors from being able to take any collection actions against you. Your Debt Attorney in Oklahoma City, Oklahoma, will assist you in stopping any garnishments that may be ongoing and preparing you for the hearing that you will attend approximately 30 days after filing.
The hearing referred to or the “meeting of creditors” is an opportunity for creditors to ask you questions. However, in most cases, your creditors will not appear, and the hearing will be mostly about the trustee assigned to your case, verifying your identity, and whether you have signed and agree with the paperwork filed in your case. Approximately 60 days after that hearing, your debts will be discharged forever. Our Oklahoma City OK debt attorney shares that common debts that are discharged include repossessions, medical debt, personal loan debt, signature loan debt, credit card debt, or debt from utilities or cell phones.
By eliminating your debt with a Debt Attorney in Oklahoma City, OK, you will be able to buy that house that you’ve always wanted, get a car loan at 4% interest as opposed to 20%, and generally have a less stressful existence. Studies have shown that stress can have an adverse effect on health and relationships and can even shorten a person’s life. Life is short; if you feel like debt is controlling your life, don’t give up. Contact your local Debt Attorney in Oklahoma City, OK and Marty Martin Law will be happy to assist you with a free consultation.
How to Talk to Your Family About Bankruptcy
Our debt attorney in Oklahoma City, OK knows that if you’re struggling with debt, you may be giving serious consideration to the option of filing for bankruptcy. However, you may be reluctant to do so right away because you’re afraid of what your family will say. It’s important to understand that filing for bankruptcy is no longer attached to the kind of stigma that was pervasive before the Great Recession of 2008 hit. Americans now generally recognize that even the most financially responsible families can fall on hard times through no fault of their own. One of the many benefits of working with an Oklahoma City, OK debt attorney from The Law Offices of Marty D. Martin is that we can help to set your mind at ease about the realities of bankruptcy. This will allow you to share this information with your family about your options in an informed and confident way. As you prepare to meet with our Oklahoma City, OK debt attorney, and support team, consider the following tips that can help make the process of talking to your family about this option a little easier to navigate.
Have the Conversation Soon
The longer you wait to talk about your bankruptcy, the more difficult it will be to have the conversation. It’s generally best to have the conversation as early as possible so that everyone has time to ask questions and get answers to those questions. Once they’ve received guidance from an experienced Oklahoma City, OK debt attorney, they can adjust their approach to their finances, spending, etc. accordingly.
Explain Why You’re Filing for Bankruptcy
Bankruptcy is a big deal, so your family will likely want to be reassured that you’re truly making the right choice. Take the time to explain precisely why you’ve chosen to file for bankruptcy, whether it’s due to high medical bills or credit debt you can’t pay off. Knowledge is power. Our debt attorney in Oklahoma City, OK shares that when your family understands why you’re considering this step, they may be more inclined to be empathetic and supportive. Also, tell them what type of bankruptcy you’re filing and approximately how long the process will take. You’ll also need to talk to them about how your bankruptcy might impact them personally.
Hiring a Bankruptcy Lawyer
If you’re thinking about filing for bankruptcy, please speak with an experienced Oklahoma City, OK debt attorney soon. Bankruptcy is a complicated legal process, and it isn’t something you should tackle on your own. Our team can help you file a timely claim and help you achieve the best possible outcome.
Questions About Filing for Bankruptcy
Our debt attorney Oklahoma City, OK, relies on at Marty Martin Law knows that debt can be all-consuming. It can be easy for even the average person to find themselves living beyond their means, in over their head. If you find yourself unable to dig out of debt or are having difficulty in making your payments, you may be completely unsure of how you will ever be able to recover financially. The stress and anxiety that can come with debts can be enough to keep you up at night, even impacting your quality of life. When considering your options, and whether bankruptcy is in your best interest, our Oklahoma City, OK debt attorney knows that you will be left with many questions you need answers to. Contact Marty Martin Law today not only for the answers but to get started today:
Is bankruptcy my only option?
Dealing with debt doesn’t always mean that you will have to file for bankruptcy. However, to be sure, you will want to speak with an Oklahoma City, OK debt attorney or a financial advisor to determine whether filing for bankruptcy is in your best interest. There may be other options, including debt consolidation or credit counseling.
What are my options if I am considering filing for personal bankruptcy?
Typically when filing for bankruptcy, you will have two options, Chapter 7 and Chapter 13. Determining the type of bankruptcy filing will take the help of an attorney. Your Oklahoma City, OK debt attorney, will be able to listen to your specific needs so that you can choose the right form of bankruptcy based on your situation:
Chapter 7: is a liquidation bankruptcy, meaning that many assets are sold to pay off debts, and the rest of your debts are forgiven. This gives the opportunity at a fresh start. However, it’s essential to be aware that to file for Chapter 7, you will need to qualify for it. This requires that you attend credit counseling and pass a means test.
Chapter 13: our debt attorney in Oklahoma City, OK, will tell you that filing for Chapter 13 is often a viable option for wage earners or those who can pay back much of their debts. The debtor will present a repayment plan to the courts, and once approved, debts will be repaid over a 3-5 year period.
How long does it take to reach a resolution for bankruptcy?
Chapter 7 bankruptcy often reaches a resolution after 4-6 months, while Chapter 13 isn’t complete until you have finished your repayment plan, which is generally 3-5 years.
Can my creditors take legal action if I have filed for bankruptcy?
Typically no, our Oklahoma City, OK debt attorney wants you to know that once the automatic stay takes place, all attempts to collect debts must come to a halt. If you believe this has been violated, it’s essential to speak with your lawyer as soon as possible.
When facing crushing debt, bankruptcy may be a viable option to experience the financial relief that you deserve finally. Bankruptcy isn’t the end; it can be a fresh start, the ability to move forward from past financial mistakes. To learn more about your options, contact our Oklahoma City, Oklahoma debt attorney from Marty Martin Law, to schedule a consultation with a member of our team.