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How can I save my house if I file for bankruptcy in Oklahoma?

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Clifton Gooding - Bankruptcy - Super Lawyers

Answered by: Clifton Gooding

Located in Oklahoma City, OKGooding Law Firm, A Professional Corporation

Oklahoma City, OK
Phone: 405-948-1978
Fax: 405-948-0864

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Owning a house has long been considered the proverbial American Dream. For many people, home ownership symbolizes security, family and achievement. While you may be facing some financial challenges at this time, it doesn’t necessarily mean that you will need to surrender your American Dream to get back on track.

Chapter 13 is a statute in the United States Bankruptcy Code that allows you to retain ownership of your house and other belongings. In Chapter 13, you will establish a three- to five-year repayment plan of your debts. Once the court confirms your repayment plan, you will pay back debts to your secured creditors (creditors who took collateral for your loans).

Chapter 13 triggers an automatic stay, which stops the foreclosure proceeding as soon as you file for bankruptcy. Through Chapter 13, you are able to catch up on overdue payments while keeping up with current payments.

It’s wise for you to seek consultation regarding bankruptcy filing. The Gooding Law Firm, established in 1989 by O. Clifton Gooding, is considered the largest bankruptcy firm in Oklahoma. We’ve handled thousands of bankruptcy cases, assisting people and companies who were struggling with serious debt problems. We make sure that the harassing phone calls from creditors stop immediately. Our top priority is for you to get back on your feet again and on your way to good financial health.

For a free initial consultation, please go to our website at www.goodingfirm.com or call us at 405-948-1978 or toll free at 866-296-9179.

Disclaimer: The answer is intended to be for informational purposes only. It should not be relied on as legal advice, nor construed as a form of attorney-client relationship.

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