Bankruptcy Exemptions in Oklahoma

In Oklahoma, debtors generally find that their property is protected from creditors when filing Chapter 7 Bankruptcy. In other words, debtors can and in almost all cases, keep exempted and secured property after filing.

Common property exempted in Oklahoma can include clothing, household furnishings, vehicles, some retirement accounts, tools of trade, 75% of wages earned in 90 days, some livestock among other things before filing bankruptcy.

Bankruptcy law usually allows married couples to file jointly in order to each claim a full set of exemptions. Property secured by a loan such as a car or home where the debtor is current on payment, is also protected. The debtor can elect to keep making payments on the loan and keep their property during bankruptcy.