OK Bankruptcy Exemptions
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FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE
All Bankruptcy law references are to Oklahoma bankruptcy Code unless noted. |
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ASSET |
EXEMPTION |
LAW PROVISION |
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HOMESTEAD
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Real property or manufactured home to unlimited value; property cannot ¼ acre, may claim $5000 on 1 acre in city, town or village, or 160 acres elsewhere (need not occupy homestead to claim it exempt as long as you don’t acquire another) |
31-1(A) (1), 31-1(A) (2), 31-2 |
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INSURANCE |
Assessment or mutual benefits
Fraternal benefit society benefits
Funeral benefits prepaid & placed in trust
Group life policy or proceeds
Limited stock insurance benefits |
36-2410
36-2720
36-6125
36-3632
36-2510 |
|
MISC. |
Alimony, child support
Property of business partnership |
31-1(A) (19)
54-225 |
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PENSIONS |
County employees
Disabled veterans
ERISA-qualified benefits
Firefighters
Law enforcement employees
Police officers
Public employees
Tax exempt benefits
Teachers |
19-959
31-7
31-1(A) (20)
11-49-126
47-2-303.3
11-50-124
74-923
60-328
70-17-109 |
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PERSONAL PROPERTY |
Books, portraits, pictures & gun
2 bridles & 2 saddles
Burial plots
100 chickens, 10 hogs, 5 cows & calves under 6 months, 20 sheep; forage for livestock to last 1 year (cows must be able to produce milk for human consumption)
Clothing to $4000
Furniture, health aids, food to last 1 year
Motor vehicle to $7,500
Personal injury, wrongful death & workers’ compensation recoveries to $50,000 total; cannot include punitive damages |
31-1(A) (7), (14)
31-1(A) (12)
31-1(A) (4), 8-7
31-1 (A) (10), (11), (15), (16)
31-1(A) (8)
31-1(A) (3), (9), (17)
31-1(A) (13)
31-1(A) (21); In re Luckinbill, 163 B.R. 856 (W.D. Okla. 1994) |
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PUBLIC BENEFITS |
Crime victims’ compensation
Social security
Unemployment compensation
Worker’s compensation (see personal property) |
21-142.13
56-173
40-2-203
85-48 |
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TOOLS OF TRADE |
Husbandry implements to farm homestead, tools, books & apparatus to $5000 total |
31-1(A) (5), (6), 31-1( C) |
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WAGES |
75% of wages earned in 90 days before filing bankruptcy; bankruptcy judge may allow more if you show hardship |
12-1171.1,
31-1(A) (18) |
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WILD CARD |
None |
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Oklahoma Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.
| BANKRUPTCY COURTS |
NUMBER OF COPIES |
Eastern District
P.O. Box 1347
Okmulgee, OK 74447
Telephone: (918) 758-0127
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contact clerks office |
Northern District
224 S. Boulder, 1st Floor
Tulsa, OK 74103
Telephone: (918) 581-7181
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contact clerks office
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Southern District
215 Dean A. McGee Avenue
Oklahoma City, OK 73102
Telephone: (405) 231-5141
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contact clerks office
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