How to File Bankruptcy in Oklahoma

oklahoma bankruptcy

Regain a New Start in Life By Learning the Filing Steps

Are bills piling up and feeling impossible to catch up on? You’re not alone. Sometimes, life throws unexpected curveballs, and debt can feel overwhelming. But there might be a way out. If you reside in Oklahoma, bankruptcy can give you a fresh financial start.  If you are drowning in debt, Oklahoma bankruptcy might be your lifeline.

This might sound complicated, but it doesn’t have to be. If you live in Oklahoma and are considering bankruptcy, this guide will give you a basic overview of what it is and how it works in your state. An Oklahoma bankruptcy attorney will also be ready to lend a helping hand in this situation to ensure you get all the steps right. 

Quick Summary:

  • Bankruptcy is a legal process that helps people eliminate or repay debts under the protection of the court.
  • In Oklahoma, the two main types of bankruptcy are Chapter 7, which quickly eliminates most debts but may require selling valuables, and Chapter 13, which involves a 3-5 year repayment plan allowing you to keep your property.
  • To determine your eligibility for Chapter 7 or Chapter 13 bankruptcy in Oklahoma, consider your income level, asset value, and the type of debt you have.
  • Filing for bankruptcy in Oklahoma involves understanding the types of bankruptcy, gathering financial documents, completing a credit counseling course, and filing a petition. You’ll also attend a creditor meeting and complete a debtor education course, resulting in either a debt discharge (Chapter 7) or plan completion (Chapter 13).

What is Bankruptcy?

Feeling stuck under a mountain of debt? Oklahoma bankruptcy might be a way out. It’s a legal second chance for people who can’t pay their bills. Bankruptcy lets you wipe out most debts, like credit cards and medical bills. There are two main choices: Chapter 7 gets rid of debt fast, but you might have to sell some things. Chapter 13 creates a repayment plan so you can keep your stuff. An Oklahoma bankruptcy attorney can help you decide which option is best for you.

What are the Common Bankruptcy Types in Oklahoma?

In Oklahoma, there are two main types of bankruptcy you can file for:

  • Chapter 7 Bankruptcy: This is often the quicker and cheaper option. It helps you eliminate most of your debts, like credit cards, medical bills, and personal loans. But, there’s a catch: if you have any valuables beyond what Oklahoma’s bankruptcy laws allow you to keep, you might have to sell them to pay back your creditors.
  • Chapter 13 Bankruptcy: This option lets you keep all your property, but you’ll have to set up a repayment plan that lasts 3-5 years. You’ll make monthly payments to a court-appointed person who will distribute the money to your creditors. This option is typically more expensive than Chapter 7 because of the extended repayment period.

How Do I Know What Bankruptcy I’m Eligible For?

Determining which type of bankruptcy (Chapter 7 or Chapter 13) is best for you in Oklahoma depends on a few factors:

  • Your Income: Chapter 7 has income limits. If your income is below the median income for your household size in Oklahoma, you’ll likely qualify for Chapter 7. There’s a “means test” you can take to see if your income falls within the limits.
  • Your Assets: Chapter 7 might require selling assets that exceed Oklahoma’s exemption limits. These exemptions protect things like your home, car, and some personal belongings. If you have a lot of valuable stuff and want to keep it all, Chapter 13 might be a better option.
  • Your Debt: Consider the type of debt you have. Chapter 7 eliminates most unsecured debts like credit cards and medical bills. It won’t get rid of things like child support or most student loans.


Consulting with an Oklahoma bankruptcy attorney is highly recommended. They can assess your specific situation, income, assets, and debts to help you determine which Chapter best suits your needs.

What are the Steps in Filing For Bankruptcy in Oklahoma?

Overwhelmed by debt in Oklahoma? Bankruptcy can offer a path to financial freedom. The process can seem complicated, but filing for bankruptcy in Oklahoma can be broken down into a few key steps. Let’s walk through the basics of getting started.

  • Educate Yourself:
  • Understand the two main chapters: Chapter 7 (liquidation) and Chapter 13 (repayment plan).
  • Research what debts get discharged (erased) and what property you can keep under Oklahoma’s exemptions.
  • Consider an Attorney:
  • While not mandatory, a bankruptcy lawyer can guide you through the process, ensure paperwork is correct, and represent you in court.
  • Gather Documents
  • Collect financial documents like bills, tax returns, bank statements, and paystubs.
  • Proof of income, property ownership (deeds, titles), and expenses will be needed.
  • Credit Counseling Course
  • Take a mandatory credit counseling course approved by the U.S. Trustee’s office.
  • Means Test (Chapter 7)
  • This determines if your income falls below the median for Oklahoma, making you eligible for Chapter 7.
  • File Petition and Pay Fees
  • This includes various bankruptcy forms detailing your financial situation.
  • Automatic Stay
  • Once filed, the court issues an “automatic stay” preventing creditors from contacting or collecting debts.
  • Creditor Meeting (341 Meeting)
  • You’ll attend a meeting with the trustee assigned to your case and creditors (if they appear).
  • Plan Confirmation (Chapter 13 only)
  • Your proposed repayment plan is reviewed and confirmed by the court.
  • Debtor Education Course
  • Complete a court-approved financial management course.
  • Debt Discharge (Chapter 7) or Plan Completion (Chapter 13)
  • After fulfilling all requirements, your eligible debts are discharged (Chapter 7), or your repayment plan is completed (Chapter 13).


Remember, this is a simplified overview. Consulting with an Oklahoma bankruptcy attorney is highly recommended. They can ensure you have all the right documents, answer your questions, and guide you smoothly through the process.

Overwhelmed by Debt? Take Control with Oklahoma Bankruptcy!

Feeling crushed by debt in Oklahoma? Bankruptcy can provide relief. There are two main paths: Chapter 7 for a quick debt wipeout (might require selling some things) and Chapter 13 for keeping your property (requires a repayment plan). Gather documents, take a credit counseling course, and file a petition to start your fresh financial start.

For all your worries regarding filing Oklahoma bankruptcy, turn to our bankruptcy attorney at Scott Harris Law, PLLC. He can help you with all the steps needed in filing bankruptcy from determining the suitable bankruptcy for you to sorting out all the needed documents. Attorney Scott Harris has got you covered.

Not only that, did you know Attorney Harris also focuses and helps clients in other areas, specifically the following:


Bankruptcy can make or break your situation. We can help you rise above it all. Schedule a free consultation with our Oklahoma bankruptcy attorney right now.

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