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State of Oklahoma Economy:

 Oklahoma ranks high in energy production; including petroleum, natural gas, and coal. Health Care and Social Assistance is also a significant employer in the state.

Oklahoma Bankruptcy Court Locations:

Oklahoma Eastern Bankruptcy Court

Therese Buthod
Bankruptcy Clerk
101 N 5th St
Muskogee, OK 74401

Oklahoma Northern Bankruptcy Court:

Michael Williams
Court Clerk
U.S. Bankruptcy Court
224 South Boulder St. Ste. 105
Tulsa, OK 74103

Oklahoma Western Bankruptcy Court

Grant E. Price
Bankruptcy Clerk
U.S. Bakruptcy Court
215 Dean A. McGee Ave,
Oklahoma City, OK 73102

Oklahoma Bankruptcy Exemptions:

Oklahoma Homestead Exemption

In Oklahoma, you can exempt equity in your home or manufactured home if it’s your primary residence. The Oklahoma homestead exemption amount is limited by acreage only. You can exempt up to:
  ⦁ one acre if you live in a city, town or village, or
  ⦁ up to 160 acres if you live elsewhere.
Also, if you use more than 25% of the total square footage of your property for business purposes, your exemption is limited to $5,000. You can, however, rent your property and still claim the full exemption amount, as long as you don’t live in another residence.

Oklahoma Motor Vehicle Exemption

In Oklahoma, you can exempt up to $7,500 of equity in a car, van, motorcycle, truck, SUV, or another motor vehicle. Learn more about this exemption in The Oklahoma Motor Vehicle Exemption.

Personal Property
In Oklahoma, you can exempt the following types of personal property. §31-1(A)(1) through (23)
  ⦁ books, portraits, and pictures
  ⦁ burial plots (also §8-7)
  ⦁ clothing to $4,000
  ⦁ college savings plan interest
  ⦁ deposits in an Individual Development Account
  ⦁ food and seed for growing crops to last one year
  ⦁ guns for household use, up to $2,000
  ⦁ health aids that are prescribed by a professional
  ⦁ household items, furniture, personal computer, and related equipment
  ⦁ livestock for family use: five cows, 100 chickens, 20 sheep, 10 hogs, 2 horses (along with bridles and saddles), feed to last one year
  ⦁ personal injury and wrongful death recoveries to $50,000
  ⦁ prepaid funeral benefits ( §36-6125(H))
  ⦁ war bond payroll savings account ( §51-42)
  ⦁ wedding and anniversary rings to $3,000

Pensions
Tax-exempt retirement accounts (including 401(k)s, 403(b)s, profit-sharing, and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans). 11 U.S.C. § 522.
IRAS and Roth IRAs up to the current maximum. 11 U.S.C. § 522(b)(3)(C)(n); §15-41-30(A)(13)
Erisa-qualified benefits, IRAs, Roth IRAs, Education IRAs & Keoghs. §31-1(A)(20), (24)
County employees §19-959
Disabled veterans §31-7
Firefighters §11-49-126
Judges §20-1111
Law enforcement employees §47-2-303.3
Police officers §11-50-124
Public employees §74-923
Tax-exempt benefits §60-328
Teachers §70-17-109
Public Benefits
Crime victim compensation §21-142.13
Earned income tax credit §31-1(A)(23)
Public assistance §56-173
Social Security. §56-173
Unemployment compensation. §40-2-303
Workers’ compensation. §85-48
Tools of the Trade
Implements needed to farmland that is your homestead. Tools, books, and other apparatus for your business or profession, up to $10,000 total. §31-1(A)(5); 31-1(C)
Wages
You may exempt 75% of your wages that you earned in the 90 days before your bankruptcy filing. The bankruptcy judge may allow you to keep more if you can demonstrate hardship. §12-1171.1; §31-1(A)(18); §31-1.1
Life Insurance
The following life and other insurance are exempt.
  ⦁ Annuity benefits and cash value. §36-3631.1
  ⦁ Assessment of mutual benefits. §36-2410
  ⦁ Fraternal benefit society benefits. §36-2718.1
  ⦁ Funeral benefits if they are prepaid and placed in a trust. §36-6125
  ⦁ Group life policy or proceeds. §36-3632
  ⦁ Insurance proceeds and cash value of life, health, accident, and mutual benefit insurance if there is a provision in the contract that prohibits them from being used to pay creditors. §36-3631.1
  ⦁ Stock insurance benefits in a limited amount. §36-2510
Other Oklahoma Exemptions
Alimony and child support. §31-1(A)(19)
Beneficiary’s interest in a statutory support trust. §6-3010
Liquor license. §37-532
Property of a business partnership. §54-1-504.)

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