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Bankruptcy 101

Chapter 11 Bankruptcy

A Chapter 11 filing is usually done by a business looking for debt relief. Below you’ll find information regarding how this type of case gets started, how it progresses through the hearings and documentation-heavy phases, how a disposition is reached and ultimately how you should proceed if your business needs to find a way out from under mounting financial pressure.

There are two...

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Chapter 13 Bankruptcy

When you file Chapter 13 bankruptcy, you agree on a plan to catch up on delinquent payments and repay your creditors over time. It provides a way to prevent foreclosure on your home or repossession of your car or other collateral. An experienced bankruptcy lawyer can explain the advantages and drawbacks of Chapter 13 and can help you determine if it is the right choice for you.

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Chapter 7 Bankruptcy in Oklahoma

Filing a Chapter 7 bankruptcy in Oklahoma gives you a fresh start by wiping out most or all of your unsecured debt, such as credit card payments and medical bills. Contrary to common misunderstanding, you may be allowed to keep all of your possessions.

Chapter 7 bankruptcy is liquidation. That means that a bankruptcy trustee will sell (liquidate) certain property that you own at the...

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Medical Bills

In 2005, the federal government enacted new bankruptcy laws making it more difficult for individuals to qualify for a Chapter 7 liquidation proceeding. The petitioner must be able to pass the Chapter 7 “means test” before they can be eligible. Their income over the past six months must be below the average median income for their family size in the state where they file. If they are approved...

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Stop Foreclosure

Being behind on your mortgage payments and at risk of losing your home is one of the most stressful and overwhelming feelings a person can experience. For someone in this situation, a foreclosure defense attorney can help protect your home.

Foreclosure is the legal process by which a lender forces the sale of real property in order to be repaid the money it has loaned the buyer of the...

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Taxes

You may hear commercials offering the hope of eliminating income tax debts in bankruptcy. But it’s not as simple as it sounds.

For example, if the income taxes you owe are for one of the last three tax years, then they can’t be wiped out (discharged) in bankruptcy — you’ll continue to owe them at the end of a Chapter 7 bankruptcy case, or you’ll have to repay them in full in a Chapter...

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Vehicle Repossession

For many families, their car is their only mode of transportation and without it life's day to day tasks can quickly become daunting. If you work outside of the home, having reliable transportation to work is a necessity in order to be a reliable employee.  Even if you work from home you likely need a car or truck to take your kids to school, go shopping, run errands, or go to appointments....

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Contact Us

OKC: 405-948-1978
Toll-Free: 1-866-296-9179
Fax: 405-948-0864
info@goodingfirm.com

Main Office Location

In the City Place Building at:
204 N. Robinson Avenue
Suite 650
Oklahoma City, OK 73102