Oklahoma City Chapter 7 Lawyer
End Your Overwhelming Debt with McBride & Associates, P.C.
If you are constantly receiving calls or letters from collection agencies or facing harassing collection attempts, it may be time to take legal action. There are several different ways that you may be able to file for bankruptcy, one of the most common being Chapter 7.
How Do I File for Bankruptcy in Oklahoma?
Filing for bankruptcy is a complex process that requires the attention of a skilled Chapter 7 attorney.
First, we want to ensure that filing for Chapter 7 bankruptcy is the right solution for your financial problems. This is a big decision that can lead to relief from debt and collection attempts should you make the decision in your best interest.
Chapter 7 bankruptcy may be right for you if:
- You have had your wages garnished
- You are being harassed by creditors regularly
- You have received a foreclosure or repossession warning
- You struggle to make your payments each month
What Is Chapter 7 Bankruptcy?
Chapter 7 is also known as the liquidation bankruptcy, where most of your debt is wiped out in exchange for your non-exempt property.
At McBride & Associates PC, we often recommend this form of bankruptcy for individuals who do not have a steady income or have very little money.
"I recommend them to all my friends and business associates."My family and I have been working with McBride & Associates for many years in the areas of Estate Planning, Business Start Up and Non-Profit 501 C-3 status. Their knowledge of the law, attention to detail, combined with a compassionate staff that understands their client needs, is why I recommend them to all my friends and business associates.- Denna
"THANK YOU McBride & Assoc !!! :)"Not only is the entire "family" of McBride & Associates professional, they are outstandingly friendly. They complement one another, working amazingly well together to exceed all of my legal needs and inquiries in a very timely manner. Highly recommended. THANK YOU McBride & Assoc !!! :)- Douglas
"Excellent services provided."Excellent services provided....David and his staff did a great job with our personal and business needs. Highly recommend McBride & Associates!- Ted
"You'll be in good hands here."Mr. McBride knows estate planning inside and out, and it helps that he makes the process so easy for his clients. You'll be in good hands here.- Hans
"I have had nothing but excellent experiences with the law firm of McBride & Associates."I have had nothing but excellent experiences with the law firm of McBride & Associates. McBride & Associates has helped my family and extended family with many legal situations including estate planning, an auto accident, and dealing with prior creditors. I have known David McBride for years and he is very knowledgeable and not only a great attorney but someone who truly cares. I never would want anyone else representing me but David and his staff!- Darrell
"I highly recommend David McBride. He will listen to you."I first met David when he was with his elderly father. I noticed how kind he was to his dad. I also noticed that David made sure his dad’s opinions were listened to and validated. I thought, “I like this guy. He is a good man.” Then I found out David was an attorney. I have not lived in the OKC/Edmond area for very long, and I didn’t know any attorneys. However, I needed one. Isn’t it funny how the universe places the right people in your path at the right time? I had co-signed my daughter’s mortgage. She became unable to pay her monthly payment and was too embarrassed to let me know. It was at that point I should have got legal counsel, but I didn’t. Things progressed without her or me doing anything right in this situation. The house went up for Sheriff’s sale. I was afraid I was going to end up owing a lot of money. However, David worked everything out to a happy ending. I highly recommend David McBride. He will listen to you. He will explain things in terms you can understand. He will give you all the options to consider. He is fair in his billing. I recommend David McBride.- Shelley
"David has been great to me and my family."David has been great to me and my family. We have used his services since 2005. He has helped us with Trusts and LLC's. He put our business into a series LLC before most attorney's even knew what a series LLC was. Thanks for all your help!- Mike
"Thank you, David and Jay for all that you did for us."I highly recommend David McBride for his legal services. My family hired David for our first bankruptcy case. My Husband and I have been very, very satisfied. Not only does he possess immense patience and compassion, but is also very intelligent and well spoken. From the moment I spoke with him, I knew that he was there to look out for his clients' best interest rather than his own. I've heard my share of lawyer horror stories and have always been very cautious when approaching them. I am ecstatic that we were able to find a lawyer who is motivated by sound ethics, as they are often very difficult to come by. I highly recommend David McBride. I also want to say a huge thank you to Jay, Mr. McBride's Legal Assistant. He helped to make sure that we had everything we needed and made sure that everything was taken care. Thank you, David and Jay for all that you did for us.- Zane
How to Qualify for Chapter 7 Bankruptcy
You will need to take a means test to ensure that you qualify for Chapter 7 before you are able to discharge your debt. The Chapter 7 means test takes your income and expenses into account to determine whether you qualify for a Chapter 7 filing.
Before taking the test, you should gather any documentation about your income from over the past six months. Your household income is checked against your state's median income, and if your income is below the median, you pass and can file for Chapter 7. Your household income is adjusted for recent and upcoming changes, like losing a job.
If you do not pass the means test, you can still file for Chapter 13 bankruptcy, or you can take the means test again in six months.
What is the Difference Between Chapter 7 and 13 Bankruptcy?
Chapter 7 and Chapter 13 Bankruptcies differ in that Chapter 7 entails liquidating (selling) non-essential assets to help pay off debt whereas Chapter 13 entails creating a repayment plan to gradually pay off debt, usually over a period of 3-5 years.
Life After Chapter 7 Bankruptcy
In most cases, a Chapter 7 filing only takes three to four months. Once complete, your qualifying debts will be discharged.
A Chapter 7 bankruptcy will stay on your credit report for ten years. Most filers can open new credit cards and other lines of credit soon after receiving their discharge.
When Can You File for Chapter 7 Again in Oklahoma?
If you need to file for bankruptcy again, you will need to wait eight years before filing for another Chapter 7 bankruptcy, or four years if you plan to file for Chapter 13 instead.
Serving Debtors in Edmond & Oklahoma City
If you are in need of legal advice on filing for Chapter 7 or Chapter 13 bankruptcy, reach out to our debt relief agency in Edmond and Oklahoma City. We help people file for bankruptcy relief under the Bankruptcy Code.