Reneau & Childers

Bankruptcy Attorney in Midwest City: Fresh. Financial. Start.
While there are many bankruptcy attorneys in Midwest City, Reneau and Childers stand above the rest. Bankruptcy is a legal process through which people and businesses can obtain a fresh financial start when they are in such financial difficulty that they can not repay their debts as agreed. The fresh start is achieved by eliminating all or a portion of existing debts and/or by stretching out the monthly payments under the protection and supervision of a court. The process is also designed to protect creditors, because general unsecured creditors share equally in whatever payments the debtor can afford to make. Filing for bankruptcy is a very personal decision. Even those in Midwest City struggle with the decision. Most people file when they have made a good-faith effort to repay their debts, but see no way out other than to file for bankruptcy. Such people and businesses may declare bankruptcy by filing a petition with the U.S. Bankruptcy Court, that is, a request that the court provide protection and relief under the Bankruptcy Code. In addition to that request, the debtor must provide information about his or her assets, liabilities, income and expenditures. Often, debtors have a lawyer prepare and file the petition and other information for them, but some debtors represent themselves. Two of the most common types of bankruptcy are Chapter 7 and Chapter 13.

Use Bankruptcy with caution. Bankruptcy may be the best, or only, solution for extreme financial hardship. However, it should be used only as a last resort, since it always has long-lasting consequences. The record of a bankruptcy remains in your credit files in credit bureaus for as long as ten years, which is a long time in today's economic system that is so dependent on having good credit. Moreover, there are limits on how often you can fully benefit from certain forms of bankruptcy. Study the pros and cons carefully before resorting to bankruptcy as a means of solving your economic troubles.

Chapter 7 Bankruptcy »
Chapter 13 Bankruptcy »

 

If you need a bankruptcy attorney in Midwest City, please contact us or call (405) 732-5432

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