April 15 is just around the corner, and most people have already received their tax documents for 2012 and are looking to file and hopefully get a refund. In addition to tax time, it’s also the time of year that collection agencies will send out “settlement offers,” claiming to help you, the debtor, settle your debts. In most cases, these “settlement offers” will ask you to report how much you expect to receive in your tax refund, in most cases so they know how much to offer to allow you to “settle” the debt. It is important to realize, however, that collection agencies are notorious for telling consumers their credit report will be “cleared,” even though this rarely ever happens, and, in some cases, the company to whom you owed the original debt may not even have any knowledge of the collection agency’s “settlement offer.” If you are struggling with overwhelming debt and you have been contacted by a collection company in Oklahoma, consult our knowledgeable bankruptcy attorneys at Oklahoma Legal Center for legal help.
How a Bankruptcy Lawyer Can Help
In some cases, namely if you only owe a couple of thousand dollars or so and you can pay in full, paying a collection agency may be a good option. However, if you owe more than that, or if you are being hounded by multiple creditors, you could just end up throwing your tax refund away if you accept their offer, at which point they may just come back after you for more money. Your best bet after being contacted by a collection agency is to consult a reputable bankruptcy lawyer in your area to discuss your legal options and determine what course of action is best for your financial situation. You definitely don’t want to allocate a large payment to a collection agency with the understanding that the payment would clear your debt, only to discover that you still owe more money.
Contact Our Experienced Attorneys Today
Many people view bankruptcy as a last resort, and are willing to try anything else to avoid seeking bankruptcy protection from the court. However, bankruptcy is actually the most logical financial move for some people, and is a good way to protect yourself from being hounded by creditors and deceptive collection agencies, and to relieve your overwhelming debt or pay it off through a manageable repayment plan. Both Chapter 7 and Chapter 13 bankruptcy have their own advantages, and, depending on your financial situation, could be the best way for you to manage your debt. If you are considering filing Chapter 7 or Chapter 13 bankruptcy in Oklahoma, your first course of action should be to enlist the help of our qualified lawyers at Oklahoma Legal Center. With our bankruptcy attorneys on your side, you can seek debt relief and feel confident that your legal rights are protected throughout the process.