You Have Options The Colpitts Law Firm Is Here to Help

Chapter 7 Bankruptcy Attorneys in Tulsa

Helping You Obtain Crucial Debt Relief

If you are feeling overwhelmed by credit card debt, you are not alone. The total credit card debt in America has surpassed $1 trillion and many Americans are finding themselves struggling with debt they cannot pay off.

At The Colpitts Law Firm, we understand the stress that collection calls and unpaid bills can place on you and your family. We take great pride in offering tailored advice for your specific situation. Our Tulsa bankruptcy attorneys can help you file for Chapter 7 bankruptcy and overcome the challenge you are facing.

To arrange an initial consultation and find out what we can do for you, contact us at (918) 302-2662.

Understand Your Options

Credit card debt is unsecured by collateral and it can often be completely eliminated through the Chapter 7 bankruptcy process. It may also be reduced by simply contacting the credit card company and asking them to work out a payment arrangement with you. Many credit-card companies are willing to work with you rather than risk losing the opportunity for repayment should you decide to file for bankruptcy. You may also decide to arrange to repay your credit card debt by working with a reputable debt relief organization or a debt relief attorney in Tulsa.

Keep in mind, however, that if you do settle a credit card debt for less than the owed amount, you may be subject to pay taxes on the amount you did not have to repay. The Chapter 7 bankruptcy attorneys at The Colpitts Law Firm can help evaluate and advise you as to your best debt relief plan.

Trustees to Oversee Sale of Your Assets

In filing for Chapter 7 bankruptcy, a court-appointed trustee is assigned to your case and will require you to turn over any non-exempt assets to be liquidated and sold to pay your debtors. The trustee is given a commission for overseeing this process.

In most Chapter 7 bankruptcies, by volunteering to sign a "Reaffirmation Agreement," you may reaffirm (state your desire to repay and demonstrate the ability to do so) certain debts if you desire to retain ownership of the property such as your home, car(s), and furniture for which you are still making payments.

Exemptions from Bankruptcy Relief

While Chapter 7 bankruptcy will completely wipe out a large portion of your debt, it is important to remember that you will still be responsible for paying certain debts.

Even with a Chapter 7 bankruptcy, you will still have to pay:

  • Alimony payments
  • Child support
  • Criminal fines and restitution fees per a court order
  • Student loans
  • Certain taxes

Contact The Colpitts Law Firm at (918) 302-2662 to discuss your options today.

Client Testimonials

Hear From Clients We've Helped
  • “I rank The Colpitts Law Firm 10 out of 10.”

    Sarah
  • “I have used Mr. Colpitts law firm and they were very professional and caring regarding my issues.”

    Robin
  • “The Colpitts Law Firm has helped me move into the right direction.”

    Scott

“Our knowledge and experience give us an unparalleled ability to move difficult cases through the bankruptcy system smoothly.”

- Greggory T. Colpitts
Board Certified in Consumer Bankruptcy
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