There’s nothing more unpleasant than getting hit with a barrage of angry letters or non-stop calls from collection agencies and credit card companies. If you’ve lost your job or other circumstances have created mounting bills you can’t hope to pay, declaring bankruptcy may be a necessary step on the road to financial recovery. At the Oklahoma City law office of Christopher A. Wood, we’ll assess your financial situation and identify the legal options available to you – and put an end to harassing calls.

In essence, Chapter 7 allows individuals to erase their debt and get a “fresh start.” Debt related to credit cards, certain kinds of loans, as well as unsecured bills, will be eliminated. However, debts related to taxes, child support or alimony, as well as student loans, cannot be wiped out by filing for Chapter 7 bankruptcy. And, while it is possible to keep your home and car after filing for Chapter 7, should you choose to do so you will be required to continue making payments on them.

Chapter 13 bankruptcy is a restructuring of a person’s debt instead of an elimination of it (as in Chapter 7). In order to be eligible you must have a steady income from work, as well as additional disposable income. Chapter 13 allows a person to keep their home, car, or other kinds of property by reorganizing the debt owed on them according to a payment plan scheduled over a 3 to 5 year period. Chapter 13 can be used to not only avoid foreclosure on a home but to pay back taxes and any missed payments on a car or home loan.

Once you hire Christopher A. Wood as your lawyer, our office immediately contacts your creditors and informs them that any communication between them and you must come through our office. Not only will we put an end to harassing phone calls and stern letters but protect your rights as well.

Whether you live in Oklahoma County, Logan County, Cleveland County, Grady County, or El Reno County, we can help you take control again.  Contact Oklahoma City Chapter 7 bankruptcy lawyer and Chapter 13 bankruptcy attorney Christopher A. Wood today to schedule your free consultation.