The Henson Law Firm, PLLC is a Chapter 13 law firm in Tulsa, Oklahoma that works with families and individuals struggling under the weight of debts they cannot pay. Chapter 13 bankruptcy is also called a “wage-earner plan” or “debt restructuring for individuals.” With Chapter 13 bankruptcy, you have the same available exemptions as Chapter 7 and you also receive the benefit of the automatic stay, preventing creditors from taking collection actions against you without permission from the federal bankruptcy judge. You can reorganize your debts and get on a payment plan for your debts which generally lasts anywhere from three to five years. On the Chapter 13 plan, you continue to pay for secured debts, like your mortgage or car, while discharging or getting on a payment plan for other debts like student loans, taxes, medical bills, and credit card debt. After the three to five year payment plan has been successfully completed, the federal bankruptcy court will issue a discharge for unsecured debt that can be eliminated. Individuals or families can go through bankruptcy and keep their home, keep their furnishings, keep their clothing, keep their qualified retirement accounts, keep their cars, catch-up their past due bills, and ultimately exit bankruptcy in a stronger financial position.

Why Chapter 13 Bankruptcy?

Clients select filing Chapter 13 for three main reasons:

1. The primary reason clients file Chapter 13 is the means test: they have too much excess income above the Oklahoma median to file Chapter 7. We will explain the means test to you at the initial consultation and use your paystubs and other financial information to determine how it affects you.
2. Keeping non-exempt property instead of turning it over to the trustee. Sometimes people have more equity in certain property or possessions than can be protected with the allowable exemptions and Chapter 13 may be the better option.
3. Some debts cannot be dealt with in Chapter 7 or can be better managed in Chapter 13. If you are several months behind on your mortgage payment, but still want to preserve the equity in your home, Chapter 13 allows you to catch up on the past due payments. This is called curing the default and can also be done with car payments and student loans.

Not sure whether Chapter 7 or Chapter 13 bankruptcy is right for you? Thinking about filing for Chapter 13 bankruptcy? Facing collections calls from debt holders or are you scared of losing your home or car? The Chapter 13 bankruptcy lawyers in Tulsa Oklahoma at the Henson Law Firm, PLLC may be able to help you. Our lawyers can review your situation, help you understand the benefits and drawbacks of bankruptcy, and guide you forward. Bankruptcy isn’t always the right choice for everyone, but for some, it is the right choice. Reach out to the Henson Law Firm, PLLC in Tulsa, Oklahoma today to learn more about your rights with Chapter 13 bankruptcy.

Help with Your Chapter 13 Bankruptcy in Tulsa, Oklahoma

If you are struggling to pay your debts, Chapter 13 bankruptcy may be an option. The Tulsa Chapter 13 bankruptcy attorney at the Henson Law Firm, PLLC may be able to help you file for bankruptcy. We can review your situation to help you understand the requirements and help you file all paperwork. Debt can bury a family in stress and heartache, but the law offers provisions to help families find a way out. Reach out to our Chapter 13 lawyers today to learn more about your options and rights under the law. Schedule a FREE initial consultation to find out how we can help secure a stronger financial future for you and your family.

*We are a debt relief law firm in Tulsa, Oklahoma.
*We help people file for bankruptcy relief under the Bankruptcy Code.