|
Bankruptcy: dry land for those
drowning in a sea of debt.
Debt can effect more than our balance sheet. Every aspect
of a person's life - family, friendships, occupation, future,
and health - is effected by the debt we accumulate. Usually
those effects are as harmful as a disease that remains
untreated. If not dealt with quickly, it gets progressively
worse until all is lost. If no other alternative exists
to eradicate the disease, bankruptcy is an acceptable
and morally responsible debt treatment.
| |
ADVICE |
|
| |
GET RID OF CREDIT CARDS. Adjust
your life style so that you pay with cash
for what you use. This is easier than
you think.
|
|
Bankruptcy is a means to re-organize our financial
life. Most of us look upon debt reduction through
bankruptcy as shameful. This is normal: most of us are
responsible citizens with a good work ethic and who believe,
rightly, that we should re-pay what we borrow. We live
by the rule that: we should never borrow more than we
can afford to re-pay and we should re-pay what we borrow.
Sometimes, however, circumstances arise that prevent us
from being able to fulfill these obligations. There
will be expensive medical problems, divorces, deaths, joblessness,
bad decisions, etc., that few of us ever prepare for financially,
but which will leave us financially un-healthy. The law
recognizes this uncertainty and provides a legal means,
through bankruptcy protection, to re-gain our financial
footing.
While the Bankruptcy Abuse Prevention Act of 2005 added
a few new requirements to obtaining debt reduction help, most
all people with financial burdens are as eligible for the
same bankruptcy protection now as before the law took effect.
Our law office can help you decide whether bankruptcy
is something you should seriously consider.
| |
ADVICE |
|
| |
Neither a borrower nor a lender be. -- Benjamin Franklin.
|
|
Find out more about Bankruptcy in general by visiting
the Bankruptcy
Basics pages of the U. S. Courts web site,
produced by the Administrative Office of the United States
Courts. (Also available is a PDF document for download
- packed with more information than a lawyer can give you
in an hour.)
Also, you can find out Oklahoma U. S. District Court specific
information at the following web sites:
Northern
District of Oklahoma
Eastern
District of Oklahoma
Western
District of Oklahoma
Is it a morally
responsible debt treatment alternative?
Forms (click to download the following PDF documents):
|