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Bankruptcy May Be Your Option

Options for debt relief in Oklahoma include filing for bankruptcy

Many people in Oklahoma carefully plan for their future. They save for their retirement and ensure that all their bills are paid. Unfortunately, unexpected life events occur that leave some wondering how they will manage their debt. For example, an accident or illness can leave people in Oklahoma overwhelmed with medical bills or an unexpected job loss can result in a loss of wages. For those people and others struggling with debt, filing for bankruptcy may be the best option.

For many, the decision to pursue bankruptcy protection can be a difficult one to make because they may be misinformed about their options and the potential fallout of such a decision. However, The Colpitts Law Firm is available to help those with debt fully understand their options and the potential consequences. Our attorney has over 22 years of experience helping people manage their debt.

Typically, there are two different options for individual debt management involving bankruptcy. The first option, known as Chapter 13 bankruptcy, involves restructuring debt into manageable payments so that debt can be repaid over a set period of time. On the other hand, Chapter 7 bankruptcy involves liquidating debt in order to restart financial dealings.

Debt is often a stress that many people in Oklahoma have difficulty managing. Despite their best efforts, they find themselves harassed by debt collectors and their wages garnished. The Colpitts Law Firm can help these people better understand their options in regards to filing for bankruptcy and take the first steps toward a future that is more financially sound.

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