At Chris Mudd & Associates, we have highly trained and experienced lawyers ready to take your case and help you get the result you need – and deserve. We specialize in bankruptcy and social security disability insurance cases in Oklahoma City and the surrounding areas.
Bankruptcy in Oklahoma City
Sudden illness, loss of employment, shortened work hours, or a divorce can all lead to financial peril. If that happens, you need an experienced bankruptcy lawyer whom you can depend on to candidly evaluate your case, be on your side, fight for your protection, and give you hope.
We will also help counsel you on what type of bankruptcy you should pursue, and explain what you can expect before, during, and after your bankruptcy.
When Should You File For Bankruptcy?
How do you know when you need to buckle down and create a budget for yourself, and when it’s time to file for bankruptcy to get debt relief?
Some signs to watch for are:
- Do you have large debts that you cannot repay?
- Are you drowning in credit card debt?
- Are you behind on your mortgage?
- Are you being harassed by debt collectors for payments?
If the answer is yes to any of these questions, then it’s time to speak with a bankruptcy attorney. They can help you review your financial situation and determine if bankruptcy is the best option for you.
Chapter 7 Bankruptcy
Chapter 7 is a popular form of bankruptcy for individuals. Known as liquidation bankruptcy, Chapter 7 bankruptcy can require you to sell some of your assets to pay off your debts. Under this bankruptcy, most of your unsecured debts will be discharged, and you will be left with minimal payments. However, it’s important to understand how Exempt property works, and the pros and cons of Chapter 7 bankruptcy – including how it can impact your credit score. You should work closely with a bankruptcy attorney to learn the ins and outs before filing.
Chapter 13 Bankruptcy
Chapter 13 is another bankruptcy option for individuals. While you may need to liquidate your property under Chapter 7 bankruptcy, you will create a payment plan to repay your debts under Chapter 13. Working with a bankruptcy attorney, you will evaluate your finances and determine how much you can spend towards your debt each month. You will then submit the plan to the court for approval. Your repayment plan will last between 3 and 5 years. After that, your bankruptcy will be final, and any remaining unsecured debts may be discharged.
Social Security Disability Insurance
Sometimes a serious medical condition becomes a disability that prevents you from supporting yourself and your family. The bills don’t stop piling up, and you need money to pay them. Social Security disability benefits might be the solution to your problem.
Who Is Eligible for SSDI?
Not all injuries and illnesses qualify you for Social Security Disability Insurance. To be eligible, you need to prove that you can no longer perform your job, that you cannot perform other work or pursue another job, and that your disability will last for at least a year. If your condition is terminal, you may also qualify for benefits.
What If You Don’t Qualify for Benefits?
If you don’t qualify for financial payments or benefits, there is still hope. You can work with an SSDI attorney to appeal your case and try to get the benefits you need and deserve.
Call Us For Debt Relief and SSDI Help In OKC
To learn more about filing for bankruptcy and obtaining SSDI benefits, it’s crucial to hire an experienced attorney to help you through the process. Don’t let debt ruin your life. Call (405) 784-7212 for a free case review.