Debt Relief Lawyer Oklahoma City, OK

Debt Relief Lawyer Oklahoma City, OK

Debt Relief Lawyer Oklahoma City, OK

Debt is becoming a larger and larger problem for Americans and Oklahomans in particular. With the advent of easy-to-obtain signature loans charging up to 150% interest, these creditors are preying on the temporary hard times that a lot of people encounter from time to time. Couple that with a buy-here-pay-here car loan company that is selling mechanically unsound cars at hugely inflated prices and interest rates and it is easy to see how well-intentioned people end up in a downward spiraling debt ring. If any of this sounds familiar, I would encourage you to contact a Debt Relief Lawyer in Oklahoma City, OK like Marty Martin Law.

We can painlessly get you out of these kinds of financial mistakes through the filing of a bankruptcy. A bankruptcy is a federal law designed to get citizens back on their feet and back to being financially healthy. It is not a handout though; the federal government has always known that the greater good of its citizens is held back if there are certain segments of the population saddled with never-ending cycles of debt beyond their control. In this way, debt relief through a bankruptcy actually helps society and the economy. Before you feel too sorry for the creditors that charge these grossly inflated interest rates, they build into their rates the fact that some people will file bankruptcy. It is just a cost of doing business.

Most of my clients had no intention of getting into a spot where they couldn’t maintain their debts any longer. However, things in life just happen; things like job loss, injury, illness, divorce children. These things are often out of our control and it certainly doesn’t help that there is a signature loan store on every corner handing out easy cash with the 150% interest rate catch. Don’t let the despair of debt consume you. Call your local Debt Relief Lawyer in Oklahoma City, Ok Marty Martin Law. Your first appointment will be at no charge. We will analyze your financial situation and ensure that bankruptcy is the right option for you or if there may be other options available.

The one thing that I can pretty much tell you with 100% certainty, if you feel like your debts are out of control, it will only get worse. 90% of my clients tell me after the process that they only wish that they had come and seen me sooner. Keep in mind that filing bankruptcy is not a credit death sentence. Filing bankruptcy with an experienced Debt Relief Lawyer Oklahoma City, OK families trust can actually lead you to a great credit score. In fact, the only other way that you can improve your credit score is to pay off all the debt that you have. Only then will your credit begin to improve.  By filing bankruptcy with Marty Martin Law, we will enroll you in a program designed to improve your credit score to over 700 within 12 short months.

The Difference Between Debt Settlement and Bankruptcy

If you are looking for financial relief, bankruptcy may be an option; however, it is often not the only one available. As a debt relief lawyer Oklahoma City, OK respects, we, at Marty Martin Law, have been helping individuals, couples, businesses, and other party’s find solutions to their financial problems. 

Every financial situation is inherently unique; therefore, what might work for one person may not work for another. An Oklahoma City, OK debt relief lawyer can evaluate your current situation to uncover a plan of action that is practical and effective. 

Debt Settlement

Debt settlement basically involves a negotiation process with creditors to reduce what you owe. The benefits of this include:

  • You can pay less than what you owe
  • Late fees and interest may be reduced or eliminated
  • It stops creditors from harassing you
  • Your credit report is less impacted

Dealing with creditors can be very stressful, complicated, and intimidating. Reaching any kind of settlement might feel impossible. As experienced debt relief lawyers in Oklahoma City, OK, we are well equipped to handle creditors, and know what it takes to get positive results. 


Both Chapter 7 and Chapter 13 bankruptcy can help you to alleviate credit card debt, and other select types of debt. Chapter 7 is only available to people who meet the criteria, and there is a risk of losing assets. Chapter 13 consolidates debt which is then paid off over a period of 3-5 years. 


A judgment is a legal document that declares you owe a debt. It is signed by a judge and allows creditors to collect the debt. In general, a judgment is pursued when a collector feels that they are not getting anywhere through phone calls, emails, and so forth. 

Medical Debt

Medical debt is one of the foremost reasons why Americans choose to file for bankruptcy. This debt can include hospital visits, bills, medical treatment, medical accessories, and more. 

Tax Debt

Although most people feel that they cannot eliminate their tax debt, there are very select circumstances in which some tax debts can be erased. A debt relief lawyer in Oklahoma City, OK can explain this to you in further detail. 

Student Loans 

In general, bankruptcy won’t discharge your student loan debt. If you can prove the payments present undue hardship, it may be possible to work with creditors. 

Be Wary of Scams

Unfortunately, there are dishonest people and businesses that will prey upon desperation. There are a number of different scams that catch people off guard. They may be difficult to identify and will offer false hope to those who are seeking financial relief. If you are in debt, and begin to receive calls or offerings of services that seem way too good to be true, it is likely a scam. Having a trustworthy legal advocate on your side can protect you against these parties. 

What Assets Can I Keep if I File for Bankruptcy?

For some, filing for bankruptcy may be the most appropriate way to approach debt relief. When considering whether to file for bankruptcy, you will likely be wondering two things, the impact filing for bankruptcy will have on your credit and whether you will be able to keep some of your property and assets. Based upon your situation and your wishes, an experienced Oklahoma City, OK debt relief lawyer at Marty Martin Bankruptcy Law can work with you to evaluate your options, and how best you can move forward regarding exempt and non-exempt assets. 

Bankruptcy Filing Options

If you are struggling financially, bankruptcy may be the most viable option. However, determining which chapter to file may be complicated, especially considering you will want to ensure that you choose the best option for your unique circumstances. When filing for personal bankruptcy, there are two popular chapters that you may choose from:

Chapter 7: this form of bankruptcy is known as “liquidation bankruptcy,” as it allows filers to discharge most of their debts by liquidating non-exempt assets to pay off creditors. However, because this option is only open to low-income filers, most filers don’t end up having many non-exempt assets available for their Trustees to sell. As a result, Chapter 7 filers are generally able to maintain ownership of their non-luxury purchases. An experienced Oklahoma City, OK debt relief lawyer can explain how your assets are likely to be impacted by this process. Chapter 7 allows you to discharge most of your debts; however, it’s essential to be aware that some debts are nondischargeable, and you will still be required to pay them. This includes things like child support, spousal support, most taxes, federal student loans, etc. Be aware that Chapter 7 isn’t for everyone. You must meet specific criteria to qualify, including passing a means test and having an income that is lower than a specific threshold. 

Chapter 13: this form of bankruptcy is considered a reorganization of your debts. Oftentimes, Chapter 13 is available to those who do not qualify for Chapter 7. Chapter 13 is ideal for those who make enough money that they can manage to pay down their debts through a 3-5 year repayment plan. This type of bankruptcy may be attractive for some because it allows them to maintain ownership of expensive assets. At the end of a successful repayment period, filers have their remaining eligible debt eliminated.   

Regardless of whether you have an idea of the chapter you would like to file, it’s best to consult with an experienced Oklahoma City, OK debt relief lawyer who can protect your interests throughout the process. 

Retaining Assets During Bankruptcy

The assets you will be allowed to keep will largely depend on the type of bankruptcy filing you choose. Here’s the critical difference when it comes to assets and Chapters 7 & 13. Chapter 7 provides relief from debts, but you will only have the ability to keep exempt assets. Chapter 13 allows you to keep nearly all of your property because you are entering into a repayment plan. While state law can vary, filing for Chapter 7 means that you will have to turn over any property that is not exempt. Property that is often exempt (up to a certain value) includes:

  • Vehicles
  • Clothing
  • Jewelry
  • Goods and Appliances
  • Equity from your Home

When determining what assets are exempt and non-exempt, it’s best to speak with an Oklahoma City, OK debt relief lawyer for personalized guidance. 

Contacting a Bankruptcy Lawyer

When determining whether bankruptcy is the best option for you, know that an Oklahoma City, Oklahoma debt relief lawyer can work with you by reviewing the specifics of your situation and the needs that you have. You don’t have to navigate significant financial challenges alone. Our firm can help. We look forward to speaking with you.

Client Review

“Mr. Marty Martin is a very kind, generous, and thoughtful Attorney. I went into his office and felt comfortable from the time I got there til the time I left. He listened to my story and suggested what was best for me. I did what he suggested and he worked it so fast and got my situation turned around. I will always be greatful to Mr. Martin for his professionalism and expertice. Whenever I have any questions he will answer them the same day, he always responds to text messages, emails and phone calls. He don’t make you feel like he doesn’t care. I will recommend him to my friends and family if they need a good realiable, truthful Bankruptcy Attorney.”
Vett N.
Client Review