Considering Bankruptcy? Let our OKC Lawyer Help You
What forms must you file in Chapter 7 bankruptcy? That is just one of the most frequently asked questions in our law office by debtors. With the assistance of a top bankruptcy attorney, you will be introduced to the official bankruptcy forms that you must file when filing for a bankruptcy case.
Scott Harris Law, PLLC has been practicing law since 2009, helping individuals and families across Oklahoma attain their financial freedom. We provide efficient assistance for individuals requiring legal representation on foreclosure defense, debt negotiation, and filing for bankruptcy.
Our experience, knowledge, and statewide recognition have made us a reputable and reliable bankruptcy firm that you can definitely rely on. If you are still confused about what bankruptcy forms you are required to accomplish, schedule a free phone consultation with us today.
Why do I need a Bankruptcy Attorney in Oklahoma?
The bankruptcy code is inherently complicated. As a person who is struggling with your financial affairs, it would be hectic on your part to deal with the complex legal terminologies and technical process of the bankruptcy filing.
While it is not required by bankruptcy law, it is highly encouraged by many. You need a bankruptcy lawyer to be with you throughout the entire process. Consider the following characteristics when looking for the best bankruptcy lawyer:
- Trustworthy – Your bankruptcy case must be handled smoothly from start to finish, from agencies to bankruptcy court. Choose a bankruptcy law firm with extensive state recognition or a reputable one. With the help of a reputable and trustworthy bankruptcy attorney, you can quicken and simplify the process.
- Extensive Experienced – Always hire a bankruptcy attorney who is well-versed in courtroom procedures, current laws, filing deadlines, and the entire bankruptcy filing procedure. In short, hire a bankruptcy attorney with extensive experience.
- Excellent Performance – How do you evaluate their performance after knowing their reputation and level of experience? Checking on client reviews is a crucial part of assessing a bankruptcy firm. Always read their clients’ testimonials and check their reviews on credible sites such as Google and Avvo.
For more than 13 years of helping people with financial problems, Scott Harris Law, PLLC has been widely recognized in Oklahoma as a reputable and trusted bankruptcy firm. Scott Harris has also been ranked as the best bankruptcy lawyer in Oklahoma City. With a consistent record of excellent performance, our firm’s rating has always been outstanding. If you need legal advice regarding your concern in Chapter 7 bankruptcy forms, book a free initial consultation now.
Who is Eligible for Chapter 7?
A debtor must be a person, corporation, partnership, or business entity to be eligible for debt relief under Chapter 7 bankruptcy of the bankruptcy law. Individual debtors must pass a means test. They are not permitted to file for bankruptcy if a petition was previously dismissed within the previous 180 days due to willful failure to appear before the federal bankruptcy court or failure to comply with its orders or if the debtor intentionally dismissed the previous bankruptcy case after creditors sought relief from the court to recover property on which they have liens.
Furthermore, no one may file for Chapter 7 bankruptcy unless he or she has completed a credit counseling course from an approved agency 180 days prior to filing. The exception to this rule is when the United State bankruptcy trustee confirms that there are limited approved credit counseling agencies on record to accommodate debtors. If a debt management plan is developed during the credit counseling course, it should be submitted to the court.
In Oklahoma, debtors can only get a Chapter 7 discharge once every eight years. Other policies may apply if, prior to the present Chapter 7 case, you received a discharge in a Chapter 13 case. A debtor in Chapter 7 bankruptcy would not be given a discharge from dischargeable debts if a Chapter 13 discharge has been granted in the past eight years prior to the date of filing the Chapter 7 bankruptcy petition unless the payments under the Chapter 13 plan were totaled at least:
- 100% of the total allowed unsecured debts; or
- 70% of the total allowed unsecured debts, and the Chapter 13 repayment plan was proposed by a debtor in good faith and was proven to be the debtor’s best effort.
What is Chapter 7 Discharge?
A bankruptcy discharge keeps an individual debtor away from personal liability for most of their debts and prevents creditors owed those debts from conducting collection activities against debtors. Since Chapter 7 bankruptcy discharge is subject to limitations and exceptions, debtors are encouraged to consult with an experienced bankruptcy attorney to discuss the scope of the discharge.
In general, not including dismissed or converted cases, individual filers receive a bankruptcy discharge in more than 99% of Chapter 7 petitions. Most of the time, unless a complaint is filed by another party to object to the discharge, the bankruptcy court will likely issue a discharge order 60–90 days after the meeting of creditors.
What are the Chapter 7 Bankruptcy Forms that Filers Must Use in Individual Cases?
The following are Chapter 7 Bankruptcy Forms that filers use in individual cases:
- 101 Voluntary Petition for Individual Debtors filing for Chapter 7 Bankruptcy
- 106Dec Declaration of a Debtor’s Schedules
- 106Sum Summary of Assets and Liabilities and Certain Statistical Information
- 106A/B Schedule A/B: Property
- 106C Schedule C: Exempt Personal Property
- 106D Creditors Who Have Claims Secured By Property
- 106E/F Schedule E/F: Creditors with Unsecured Claims
- 106G Schedule G: Unexpired Leases and Executory Contracts
- 106H Schedule H: Your Co-borrower
- 106I Schedule I: Your Income
- 106J Schedule J: Your Expenses
- 107 Financial Affairs statement
- 108 Intention of Filing Under Chapter 7 bankruptcy Statement
- 121 Social Security Numbers
- 122A-1Supp or 122A-1 Statement of Exemption from Presumption of Abuse pursuant to §707(b)(2) or statement of your current monthly income.
- 2010 Notice Mandated by 11 U.S.C. §342(b)
- Creditor List or Matrix A format will be issued by the local bankruptcy court for the statement of your creditors’ mailing list.
Chapter 7 Bankruptcy Form Necessary After Filing
- 423 Financial Management Course Certification
Call our Oklahoma Bankruptcy Attorney Now!
It is true that filing Chapter 7 bankruptcy can effectively resolve your debt problems. No one can deny, however, that the bankruptcy process is inherently complicated. It involved filling out several bankruptcy forms before the federal bankruptcy court. If you are currently being harassed by creditors or other debt collectors and considering filing for a bankruptcy petition, you should seek legal advice from an experienced bankruptcy attorney.
Scott Harris Law, PLLC has the experience and knowledge that your complicated bankruptcy case requires, in addition to being trustworthy and having demonstrated excellent performance. We help you defend your rights in bankruptcy, debt negotiation, foreclosure defense, and a lot more. If you need our assistance in any of the practice areas, schedule a free initial consultation today.