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Lawsuits & Judgements

Lawsuits & Judgements

Suppose you face lawsuits or judgments because the debts you cannot pay, we are here to help. If you are getting tired of the constant debt collector calls and do not have the ability to pay your bills, these are some options that you should consider.

Chapter 7 Bankruptcy

This will liquate all of your debts including medical debts. This is the fastest way to declare bankruptcy for businesses and personal debts and begin the process of liquating your debts. To file for Chapter 7 bankruptcy, you will have to pass a means test. This means test will merely weigh your incomes and your debts. After passing the means test, you will be able to file for Chapter 7 bankruptcy. If you do not pass the means test, other options are still available, such as filing for Chapter 13 bankruptcy.

Chapter 13 Bankruptcy

If you file for Chapter 13 bankruptcy, you are filing to reorganize your debts. This process is lengthy and can take a considerable amount of time. The goal of a chapter 13 bankruptcy would be to reorganize your debts so that you can pay them off in a reasonable amount of time. Filing for Chapter 13 bankruptcy is good for individuals and businesses. You would file for Chapter 13 bankruptcy if you are still making a decent living but are in over your head from debts. This could happen if you had an expensive medical bill or if you made some bad business decisions. This process will seek to help you pay off your debts in a time frame that will better serve your needs. Chapter 13 will prevent your property from being taken from you while allowing you to set up a different payment plan to keep your (house, car, or other assets).

Chapter 11 Bankruptcy

This type of bankruptcy is similar to chapter 13 bankruptcy; however, it is more so suited for LLCs or sole proprietorships. These types of businesses can be set up in such a way that will protect you from being personally liable from some kinds of debts. However, there are also loopholes that your creditors can use to claim these types of debts. If you are thinking about filing for Chapter 11 bankruptcy, you need to speak to one of our attorneys, who will help you come up with a plan on how to file for this type of bankruptcy.

If you face harassing phone calls because of debt, then you must speak with a Tulsa bankruptcy attorney. Please feel free to call us or email us at any time to see how we can assist you in your current debt crisis.

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