What Types of Bankruptcy Are There in Oklahoma?

Описание: In this YouTube video, Edward Kelly, an OKC bankruptcy lawyer, discusses the different types of bankruptcy in Oklahoma. He explains the three main chapters of bankruptcy: Chapter 7, a personal liquidation where all unprotected assets are sold to eliminate dischargeable debt; Chapter 13, a hybrid personal reorganization and liquidation where assets can be kept by paying their value into a repayment plan over five years; and Chapter 11, a business reorganization that involves creating a plan with creditors to save the company. He also mentions a new sub-chapter of Chapter 11 for small businesses, making it more affordable and streamlined. For more information, viewers can contact Edward Kelly at oklahomacitybankruptcyattorney.pro.

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