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Todd Laster
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Claimed Lawyer ProfileQ&A
Practice Areas
- Bankruptcy
- Consumer Law
Fees
- Free Consultation
Jurisdictions Admitted to Practice
- Oklahoma
Education
- University of Tulsa College of Law
- J.D. (2002)
Awards
- Top Contributor
- Avvo
Professional Associations
- Oklahoma Bar Association # 19509
- Member
- Current
Legal Answers
13 Questions Answered
- Q. I have 2 cars in my name and I'm married. Can I keep both?
- A: Under Oklahoma exemptions in a joint case where both spouses file bankruptcy each are able to exempt one car at a value of $7500 per vehicle. If there is a loan against a vehicle the equity should not exceed $7500 to be a protected asset.
- Q. Who do I see to learn if an action has been filed on a mechanic's lien or if a hearing date has been set or is pending?
- A: You can search to see if a mechanic's lien has been filed on your property by searching in the land records division of the Court house where the property is located. There is a fee for copies. If the creditor makes an attempt to foreclose on the mechanics lien you should be notified by a summons.
- Q. I bought a vehicle in oklahoma in feb18 with buy here pay here that had their own finance company. I surrendered .
- A: The deficiency balance that is still owed can be collected by the creditor in State Court by receiving a judgment and then collecting on the judgment with a wage garnishment. In Oklahoma up to 24% of a debtor's wages can be garnished for this type of debt. deficiency balances on repossessions can be discharged in a bankruptcy. If you are unable to satisfy this debt with monthly payments or by offering a one time lump sum settlement amount you may want to consider a free consultation with an experienced bankruptcy attorney.
- Q. Oklahoma shows unlimited exemption for home so as long as I exempt my home should be ok correct.
- A: Oklahoma does have an unlimited homestead exemption up to one acre inside city limits. However, you must live in Oklahoma for a minimum time frame before filing for bankruptcy in order to qualify for Oklahoma's exemptions. How a house is paid for and fraudulent transfer issues can also have a bearing on its exempt nature. It is best to get representation from an experienced bankruptcy attorney.
- Q. When listing my house in assets do I list what's owed or what house is worth on value?
- A: I hope you have an attorney to assist you in filing for bankruptcy. If so you need to direct this and all questions about bankruptcy to your attorney. If you do not have an attorney I strongly recommend you get one before filing a case. Schedule A/B is were all assets are disclosed in a bankruptcy petition. The fair market value of the property is what you list as the value of the property in Schedule A/B. All debts are disclosed in Schedules D, E & F. The balance of the amount owed on a house loan is disclosed in schedule D, secured debts.
- Q. I have a truck that was in c-7 bankruptcy. The lender has not repoed it in 18 months. What can I do with truck
- A: 1. You can call the creditor and ask them to come get the car. 2. If they refuse you can make them an offer to pay a lump sum of money in exchange for a lien release. 3. If all the above fails you may attempt a quit title lawsuit against the lien holder and seek a Court Order granting clear title to you.
- Q. I'm nearly 3 years into chapter 13. My wife just had a kid but insurance didn't cover enough, I now have a $4K bill. ..
- A: If you have an attorney representing you in your bankruptcy you should contact them about this issue. Chapter 13 Debtors are generally ordered not to incur debt without court approval however, there is an exception for necessary medical treatment. The debt is generally not included in the bankruptcy if it was incurred after the case was filed. The creditor cannot force you make payments while you are in an active Ch. 13 where the automatic stay is in effect. You should contact your bankruptcy attorney about this issue as soon as possible.
- Q. Does a ex spouse filing Ch13 Bankruptcy make it more difficult for me to collect attorney fees IF I did win?
- A: In a Chapter 13 bankruptcy creditors are paid based on their priority status. Child Support is a priority debt that is not dischargeable. Property division is an unsecured debt and can be discharged. In a Chapter 13 plan unsecured creditors receive a pro rate share of the amount the debtor is paying to all their unsecured creditors. The percentage to general unsecured creditors in a chapter 13 plan can be anywhere from 0% to 100% depending on the debtor's disposable income. If your attorney fees award is in the nature of support you can object to confirmation of the plan if it does not pay the claim in full. If your attorney fees award is in the nature of property division it is a general unsecured claim an may not be paid back in full or at all under the plan. As a creditor if your former spouse files a Chapter 13 you will receive notice and a copy of the proposed Plan. Look to see how your claim is provided for in the plan. If you claim is not provided for you are likely being treated as an unsecured creditor and you should look for the projected percentage payback to general unsecured creditors near the end of the plan.
- Q. We filed a chapter 13 bankruptcy less than 2 years ago. I am wanting to know if we can move it to a chapter 7
- A: If you have an attorney you should direct this question to them. If you do not have an attorney it is possible to convert a Chapter 13 case to a Chapter 7 case depending on a number of different factors. If you are in a Chapter 13 because your income was to high to be in a Chapter 7 and your income has decreased you may now be able to convert. There are a handful of documents that must be filed and amended when converting a case to a Chapter 7. Good luck.
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