Frequently Asked Bankruptcy Questions

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In our more than 20 years of service, we have noticed that many of our clients come to us with similar questions and concerns. To better serve the needs of our clients, our Oklahoma City bankruptcy attorney has compiled a list of commonly asked questions and provided the answers below. We hope you find this information useful as you choose to begin the bankruptcy process.

Why can't I just file for bankruptcy on my own?

Filing for bankruptcy without legal representation can lead to disaster. You are at a greater risk of having your petition denied or delayed due to errors. For example, some individuals have filed their bankruptcy petitions in the wrong court! Don't let this happen to you. Seek adequate assistance from our highly experienced law firm.

Is filing for Chapter 7 better than filing for Chapter 13 bankruptcy?

In a way, yes. Chapter 7 is a form of liquidation that cancels most of your debts while Chapter 13 bankruptcies require that you repay creditors through an agreed upon monthly payment plan. Chapter 7 bankruptcies are also faster than Chapter 13 bankruptcies, which could take several years to complete.

Learn more about how filing for Chapter 7 bankruptcycan benefit you!

Will bankruptcy affect my credit?

Yes. Bankruptcy filings can appear on your credit record for up to 10 years. However, once you have completed the bankruptcy process, you can start rebuilding your credit score. Our firm shares more helpful tips here:

Why should I choose to entrust my bankruptcy case to your firm?

Because we genuinely care about our clients and their peace of mind. Unlike some other bankruptcy law firms, we don't treat clients as mere case numbers. We never lose sight of the fact that each case we handle represents a family in desperate need of debt relief. This is why we go above and beyond to make sure their needs are met. In fact, we offer weekend and evening appointment times!

I am afraid of my financial ability to pay for legal representation. What are my options?

We understand that many of our clients are experiencing financial strain when they come to us for help. This is why we offer payment plan options for Chapter 7 bankruptcy and free case evaluations. We wish to lessen your burden, not make it worse.

What debts can I include in my Bankruptcy?

Any/All debts can be discharged in Bankruptcy, including tax debts, unless they are "excepted" from discharge. "Discharge", a contracts term, means that one is legally excused from the duty of payment. When a Bankruptcy court issues a 'discharge order', the duty of repayment is removed by order of the Federal Court . The discharge includes permanent protection from any/all future attempts at collection.

Exceptions to Discharge:

Debts which are 'excepted' from discharge are found in 11 U.S. Code § 523. These include generally:

  • Child Support or Alimony;
  • Income Tax debts assessed less than 3 years before the date of Bankruptcy;
  • Credit acquired by fraud or false pretenses;
  • Government fines and/or penalties;
  • Drunk driving reparations;
  • Debts owed by an ex-spouse which have been ordered to be paid by the Bankruptcy filer in a divorce decree or property settlement.

More questions? Call Alexander Hilton & Associates today!

We would be happy to provide you with the answers you need before deciding to move forward. We understand that this can be a very stressful and overwhelming time, but remember, Alexander Hilton & Associates is on your side.

If your question was not answered above, please do not hesitate to contact us as soon as possible.

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