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When Bad Things Happen to Good People ...

Bankruptcy May Be Your Option

January 2015 Archives

Are you second-guessing yourself deeper into a financial hole?

Business and military leaders have coined a phrase to describe what happens when people spend too much time trying to figure out why something is happening instead of taking concrete steps to do something about it. They call it the "paralysis of analysis." Many times this self-induced inaction has the effect of making things worse because even an imperfect course of action taken in a timely manner could be better than taking too long to come up with the perfect plan.

A hierarchy of strategies for coping with high debt levels

Getting into serious debt is in at least one way like putting on unhealthy amounts of extra body weight: it's easy to add on to it, but taking it off requires more effort and sacrifice, and sometimes it can seem almost impossible to get back to where you were before things started getting out of hand.

Does Oklahoma have a foreclosure right of redemption?

Foreclosure occurs when the mortgage holder seeks to take back real property, such as a residence, when the owners of the property failed to keep up with their payments. Frequently those on the property will be reluctant to give up their hoped-for ownership, and will seek a way to either avoid the foreclosure sale or to repurchase the property after the sale. The ability to do this is known generally as a right of redemption.

What to expect at the bankruptcy meeting of creditors

For most Oklahoma debtors who file for Chapter 7 bankruptcy, and many who file for Chapter 13, the meeting of creditors (also referred to as a "341 meeting") is the only time that they will be required to attend court. And even though this meeting generally takes place at the courthouse, it is not very much like a formal court hearing at all. It is usually not even held in a courtroom.

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