Chapter 7

Helping you find a way out of debt while keeping what you own
Contact Us Today

Chapter 7 Bankruptcy Attorney In Norman, Oklahoma

About Chapter 7 Bankruptcy

Chapter 7 bankruptcy is designed for individuals who are in a financial situation where they are unable to repay their debts.

Do I Qualify?

In order to qualify for Chapter 7 bankruptcy, you must:


  • Have an income that is below the state median income for the past six months. In Oklahoma, that is $39,749 for an individual, $51,097 for two people, though those numbers change with updates to relevant laws so make sure to speak with an attorney to get the latest information.


You can also qualify if your gross income minus qualifying expenses, is below the Median income. In some cases, you can also get an exception to the income requirements too. If you qualify for Chapter 7 bankruptcy, you can typically keep most of your assets, which is what makes this option so attractive.

Contact Law Offices of B. David Sisson to schedule a consultation with a lawyer today at 405-977-3201

Can I Keep My House? My Car?

Assets such as your retirement accounts and pensions are usually safe. Secured property, which would include a home and cars, that doesn’t have net equity is also protected. Even property that does have equity can be kept in many situations.


Assets that are not protected will need to be sold in order to repay as much of the debt that is owed as possible. The courts will decide which creditors will get what amount of money from the available funds. Any debt that remains will be discharged, meaning you don’t ever have to pay it.


There are certain types of debts, however, that are not able to be discharged through bankruptcy. These include some types of tax debt, student loan debt, criminal restitution, alimony, child support, and certain other types.

What Are Some of the Requirements for a Chapter 7 Bankruptcy?

To avoid high-income individuals from exploiting a seemingly “easy out,” filing for Chapter 7 bankruptcy requires passing a means test. This test reassures the court that your income is inadequate to reasonably clear your debt. Additionally, you will need to undertake financial counseling in the six months before you file. To ensure you meet all these prerequisites and submit the necessary documents, your first step should be to consult with David Sisson in Norman, Oklahoma. As a proficient practitioner of Bankruptcy Law, he will ensure the process is as swift and smooth as possible. Start your journey towards financial liberation today. Get in touch with David now.

Contact Us Now

Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.

Share by: