Oklahoma Bankruptcy HelpWhat Types of Debts Cannot Be Discharged in Oklahoma Bankruptcy?
Having debt discharged in Oklahoma bankruptcy is the ultimate goal for people overburdened by debt. In this case, the term “discharge” is a good thing; a judge permanently discharges your obligation to pay debts such as credit card bills, medical bills, and personal loans.
However, some types of debts cannot be discharged in Oklahoma bankruptcy. Let’s discuss these now.
Student Loans Cannot Be Discharged in Oklahoma Bankruptcy
Generally, if you got a student loan as the result of filling out a FAFSA (Federal Application for Federal Student Aid), you cannot discharge this debt in bankruptcy.
Rare exceptions may apply. For example, if your college closed or allowed you to take classes without verifying if you had a high school diploma or GED (or failed to give you a placement test in lieu of such a credential).
If you are severely and permanently disabled, you may qualify for forgiveness of your federal student loans. The criteria are far more stringent than those for SSI, SSDI, state, or private disability benefits.
Child Support and Alimony Cannot Be Discharged in Oklahoma Bankruptcy
Only the appropriate family court can deal with your child support and alimony obligations. Hence, you cannot have past, present, or future familial support payments reduced or discharged in Oklahoma bankruptcy.
How We Can Help You
Our mission at Financial Freedom Bankruptcy Lawyers of Tulsa is to provide you the information and legal representation you need to climb out of debt and get back onto solid financial ground.
And with a discharge of your debt, you can often rebuild your credit rating much more quickly. When your debt exceeds your earnings and the value of disposable assets, it is time to consider how you could benefit from bankruptcy.
Every person’s financial situation is unique. So, while bankruptcy tools are standardized, an experienced attorney can help guide you through the process so that you get the best possible debt relief for you.
Likewise, your Tulsa bankruptcy attorney can help you retain the assets that are important to you. You have worked hard for your home. You don’t want to lose it to debt.
Bankruptcy law and its forms are complicated, and mistakes will cost you. It is important to get the forms right the first time.
Your attorney can help you understand the process and what debts you will likely be required to pay, which debts are secured with collateral, and what property is exempt.
Because we have worked with so many clients, we know how to do the filings right and how to make the process efficient. Our goal is to make affordable debt relief in Tulsa available to anyone who needs to get out from under debt and back on top of their financial life.
Get out from under by calling for the help you need today. We are here to help.
Free Bankruptcy Planning: Tulsa Bankruptcy Lawyer
To get the best possible outcome in your case, you will need to set expectations for yourself and also understand your attorney’s expectations of you.
To receive your free initial bankruptcy analysis, call Financial Freedom Bankruptcy Lawyers of Tulsa today at 918-786-9600.
