Chesapeake Energy, the shale gas drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said. - Oklahoma City, Oklahoma Construction, Service For almost 30 years OKC Electric has delivered professional and courteous workmanship to the State of Oklahoma's commercial development. Apr 06, · Among the many crises caused by the COVID pandemic, a new one is looming: states and cities are facing potential bankruptcy, as tax revenues fall and emergency spending skyrockets.
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Find out what forms of payment are accepted. For real estate auctions, you may need to still work with a broker or real estate agent in order to bid or make the purchase. Also, for real estate auctions, find out if financing is permitted. Many times it is not and the full purchase price is due when you win the bid. The U. Treasury holds approximately public auctions each year throughout the U.
Find out where and when the U. Treasury holds auctions. Lands identified as excess to the public's or government's needs sometimes become available for sale. The land is first offered to other federal agencies and states, and then becomes open for sale to the general public. This is not the process for disaster victims to get temporary housing from FEMA.
However, if your household income is below a certain threshold and you can't afford to make installment payments for the court fee when filing bankruptcy in Oklahoma, the court can waive your fee, and allow you to file your Oklahoma bankruptcy for free.
There are a number of documents you will need to collect when preparing to file your Oklahoma bankruptcy.
Some of them, like your most recent tax return and your recent paystubs, have to be provided to the trustee handling your case and any creditors that file a timely request with the court after your case has been filed.
Other documents are not just helpful but often necessary to make sure that you are disclosing all the information you have to disclose when filing bankruptcy in Oklahoma. You may think that you have the information in your head and don't need to look anything up, but it's not that simple.
Remember, you will be signing the bankruptcy documents under oath and penalty of perjury, so "accidentally forgetting" information can have serious consequences. In order to make sure your list of debts and debt collectors is as complete as possible, you should obtain a copy of your credit report from each one of the three reporting agencies. You will also need a full 6 months of paycheck stubs to complete the means test calculation and your bank statements will come in useful when tracking your monthly expenses and putting together a budget for life after filing Chapter 7 in Oklahoma.
If you are in more debt than you can handle, you have a number of options on how to deal with it. That is why everyone filing bankruptcy in Oklahoma has to complete a credit counseling course before their case can start. Since the certificate of completion you will receive will be valid for days, you can take the course at any time in the six months before your Oklahoma bankruptcy case is filed.
The course is a single class that takes about 1 - 2 hours to complete. If you are outside of the Tulsa area, it's probably best to plan on taking this course online or by phone, as only two of the providers approved to offer this course to people filing bankruptcy in Oklahoma have in person options, both of which are in Tulsa.
All other approved providers can accommodate your schedule either by phone, online, or both. Completing the bankruptcy forms is typically the most labor-intensive and time consuming task of getting ready to file a Chapter 7 bankruptcy in Oklahoma.
If you hire a lawyer , they will do the heavy lifting by having you provide your bankruptcy documents to their office first, then asking you questions to find out all of the necessary information. It's important to be completely honest in answering your lawyer's questions, as they can only help you if they know all the facts. Folks that are filing bankruptcy in Oklahoma without a lawyer "pro se" can either complete the forms themselves, or if they are eligible to do so, utilize the services available through Upsolve.
When you are done completing the documents, you should give yourself a little bit of time to walk away from it all before coming back to do a final review of everything. Remember, these documents are going to be part of the court record in your Oklahoma bankruptcy case, so it is important to make sure you didn't miss any questions.
While it may seem strange that the court is charging people filing Chapter 7 in Oklahoma a fee to do so in the first place, these fees are used to fund both the court operations and pay for the standard services each Chapter 7 trustee has to provide for your case.
Also, keep in mind that everyone filing bankruptcy in Oklahoma got to that point in their lives a different way. Oklahoma bankruptcy laws protect all those that do not have enough income to pay their debts as they come due. This does not necessarily mean that they don't have any money; it just means their minimum monthly payments add up to more than they can afford to pay. If you are unable to collect the full court filing fee before filing bankruptcy in Oklahoma, plan ahead by completing an application to make payments after filing your case.
This will be the last step before you head to the courthouse to file all the paperwork needed for your Chapter 7 bankruptcy in Oklahoma. Some of the information contained in the forms is time sensitive, so be sure to make any necessary updates if some time has passed since you filled everything out. It's helpful to have a checklist in front of you as you print everything.
A lot of the forms needed when filing bankruptcy in Oklahoma look alike and it is easy to lose track. Make sure you print everything on white 8. Even though it may seem a little wasteful, don't print on both sides of the paper. Since these documents are going to be part of the court's file for your Oklahoma bankruptcy case, they cannot be double-sided. The first thing you will have to determine is which Oklahoma bankruptcy district your paperwork has to be filed in.
There are three districts in the state, and the county you live in determines which district you have to go to. Start by checking this list of counties to determine the proper district for your Oklahoma bankruptcy.
Depending on which district you fall into, you will have to head to either Muskogee, Tulsa, or Oklahoma City. Either way, remember that you will have to go through security on your way into the courthouse and leave anything that might make the Federal Marshals nervous at home. Once inside the courthouse, head to the clerk's office. This is the office where folks filing bankruptcy in Oklahoma hand in all of their paperwork.
The clerks in that office will take your bankruptcy forms and your court filing fee and provide you with a case number after processing everything. While you are in there, remember that even though this is an extremely stressful time for you, the clerks are here to help you and should be treated with courtesy.
Everyone who files a Chapter 7 bankruptcy in Oklahoma has a trustee appointed to handle their case. One of the things the trustee has to do is compare the information you provided on the documents you filed with the Oklahoma Bankruptcy Court to the information contained in your tax return. This means that, at minimum, you have to be ready to send your most recent income tax return to your trustee after filing bankruptcy in Oklahoma.
Since the trustees operate independently from each other, each one handling their own case load, they have developed different processes for efficient handing of the Oklahoma bankruptcy cases assigned to them.
After your case is filed, make sure to keep an eye out for any correspondence from your trustee, as it is not unusual for them to send letters with a request for additional documents to each of the debtors. If you do receive such a request, make sure to carefully review it and comply with the instructions contained in the letter in a timely manner, as failure to cooperate with your trustee can delay the entry of your discharge or, in extreme cases, result in the loss of your discharge.
The purpose of filing Chapter 7 in Oklahoma is to get a fresh start. This fresh start begins when you file your case and the automatic stay goes into effect, and becomes permanent when your discharge is entered. Before the court can enter the discharge in your case, you have to complete bankruptcy course 2 and file your certificate of completion with the court.
This course focuses on providing you with financial management skills and tools that will help you make the most of your fresh start after your Chapter 7 bankruptcy in Oklahoma is done. As before, it is very important to confirm that the company you plan on using to complete this requirement is approved for the Oklahoma bankruptcy district you live in. A full list of all providers for all three districts is available from the Office of the United States Trustee. If you liked the company that you did the first course with, it's ok to ask if they are also approved to offer bankruptcy course 2 and, if so, go through them to fulfill this requirement.
The meeting, also called the meeting of creditors , takes place about a month after your case is filed. Everyone filing bankruptcy in Oklahoma has to attend a meeting. They are scheduled in half-hour increments, but since most meetings only take about 5 minutes, multiple cases are scheduled at any one time.
This is actually not a bad thing, as it typically means that you'll be able to watch a few of them before your case is called, so you know exactly what to expect. The primary purpose of the meeting is for the trustee that is handling your case to ask you certain questions about your Oklahoma bankruptcy case while you are under oath and on the record.
The questions are not hard, and actually, this is the one time where people who have a lawyer still have to do exactly the same thing as the folks filing bankruptcy in Oklahoma without a lawyer because lawyers are not generally allowed to answer the trustee's questions. Your creditors are invited to attend this meeting, listen to your answers, and even ask you questions directly, while you are still under oath, after the trustee is done, though that does not actually happen in most cases.
Your car is an asset in your Oklahoma bankruptcy case. This is true even if you think or know that the car isn't really worth much, as it's ultimately up to the trustee to find the answer to that question. If you have a car loan you are still making payments on, you should find out if you have any equity.
If your car is owned free and clear, or if you have equity, then as long as its value or equity is less than the allowed exemption , nothing changes.