Oklahoma Blog: Bankruptcy Chapters 7, 11 and 13

Filings for Oklahoma Bankruptcy this past April have reached almost 146,000, according to Automated Access to Court Electronic Records. This is an improvement from March, which had about 158,000, but marks a 15% increase compared to the filings counted in April of last year. April also marks the second highest month since the BAPCPA law went into effect in 2005, a law that was essentially made to decrease the rising number of bankruptcies and requires the assistance of an Oklahoma bankruptcy attorney in the proceedings.

According to Liz Pulliam Weston, a personal finance columnist for MSN, the overall rise in national bankruptcies are “a pretty clear indication that the bankruptcy juggernaut was just stalled, not cured, by the new law." BAPCPA stands for the Bankruptcy Abuse Prevention and Consumer Protection Act, and it has given more requirements to be met in order to file for bankruptcy, as well as raise the cost. For example, there is now a much higher amount of paperwork because of this law, which can result in consequence if not filled out properly.

A consultation from one of our bankruptcy attorneys can show which kind of bankruptcy you are qualified for, and make sure you are in the right direction when filling out paperwork for bankruptcy. Contact the Oklahoma City bankruptcy lawyers at Atkins and Markoff for a free consultation regarding this matter.