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  1. #1
    curiourc Guest

    Question Bankruptcy and disability

    What is the name of your state? Oklahoma

    Situation: I am 38 years old, married, and a female. I have recently been diagnosed with systemic disorder that can, may and sort of is, dibilitating. I am trained as a cad operator, but my eye site is going. I have been on short term disablityfor about two months now, and will probably be on it atleast another month possibly four. I may be able to find a different type of job, but it would probably cause the illness to progerss faster and make me completely disabled sooner. I have missed a large amount of work previous to this due to health and 3 deaths in my family. My husband works outside therefore does not always work due to weather. We have gotten way behind on our bills and debts. Question: If we file bankruptcy, what happens to my disability from work and from the state if I end up unable to return to work? Will we loose our house (bought two years ago) car, and other things. Will we be able to lower those payments to adjust for my lack of income? What happens to insurance and such? I realize that is a lot of unspecific questions, but would appreciate any advice I can get.
  2. #2
    Ladynred is offline Senior Member
    Join Date
    Feb 2002
    Location
    Nashville,TN
    Posts
    15,711
    Your disability would be totally exempt if you file BK.
    You can reaffirm on your house IF you can keep up the payments and if you're not behind on the payments. If you reaffirm, you'll have to catch up the arrearages if there are any. Same for your car, you can reaffirm it - or not. Usually if you keep making payments on a car, they'll let you keep it.

    What exactly are you referring to when you mention insurance ?

    As for lowering payments on the house and car, they won't, you have to keep up the payments as they are, usually.

    Here's a link to the OK exemptions for BK:

    [url]http://www.thebankruptcysite.com/exemptions/oklahoma.htm[/url]
  3. #3
    ladyc4 Guest
    I found myself in about the same situation about 8 years ago, except in my case it was partially caused by my employer playing games with me about my sick pay. We really weren't that much in debt but we received some threats from a couple of creditors,that ( as we found out after the harm was done)they could not legally make. Anyway we panicked-but at least we had the sense to file CH 13 rather than 7, and I would suggest that you look at CH 13 first, because in CH 13, in Michigan anyway, is a repayment plan rather than an out and out BK-I'm a little hazy on this but I think if you can't make CH 13 work due to further decrease in income,then you could file for CH 7-best to consult with an attorney,and if it looks like your disability is going to be long-term, permanent, or likely to end in death,you will want to be filing for Social Security disability benefits-your insurer will probably push for you to do that, mine did. At some point you may need to get an attorney to assist you in your disability claim procedures(Social Security)If you can find one(good) attorney who handles both BK filings and SSD claims count yourself lucky

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