• Residents of Oklahoma may choose to file for bankruptcy if they are experiencing financial hardships, or if they feel they will not be able to eliminate their debt within five years. To file bankruptcy in Oklahoma, you must petition one of the three bankruptcy districts in Oklahoma: the Eastern district, the Northern district, or the Western district. You may file one of six bankruptcy types: Chapter 7, Chapter 9, Chapter 11, Chapter 12, Chapter 13, or Chapter 15.
  
  

Chapter 7

• Chapter 7 is the most commonly used bankruptcy. A debtor filing Chapter 7 bankruptcy after March 15, 2009 in Oklahoma must meet household annual income guidelines. The maximum income for a single wage earner is $38,244; a family of two can earn no more than $51,322; there is a $54,494 income limit for a family of three; $62,049 is the limit for a family of four; there is an additional $6,900 for each individual in excess of four. Some family incomes are higher than the maximum amounts allowed. For those families, expenses such as child support payments, back taxes, school expenses up to $1,650, mortgages, and car payments can be deducted from a family's income to help lower the earnings so the family can meet income guidelines. If a debtor has any overdue tax returns, he must file those in order to file Chapter 7 bankruptcy.
  
  

Exemptions

• When filing bankruptcy in Oklahoma, there are some exemptions (property or assets) that you are entitled to keep. Each state gives an individual exemptions so that he or she can maintain a basic standard of living and can remain self-sustaining. Some of the Oklahoma insurance exemptions are group life policy proceeds under section 36-3632, alimony and child support under section 31-1(A) (19), pensions for employees (section 19-959), 75 percent of wages earned 90 days before filing bankruptcy (section 12-1171.1), and others.
  
  

Fees

• The fees for bankruptcies in Oklahoma vary, depending on the type of bankruptcy you are filing. With Chapter 7 the filing fee is $299. The filing fee for Chapters 9, 11, and 15 is $1,039. The Chapter 12 filing fee is $239. A $274 filing fee must be paid to file Chapter 13. The fees were effective for any bankruptcy case after January 1, 2007, according to U.S. Bankruptcy Court, Oklahoma Eastern District. There are other fees outside of the filing fees. For instance, a debtor who wants to convert from a Chapter 13 bankruptcy to a Chapter 7 bankruptcy must pay a $25 conversion fee. A motion for relief from stay is $150, and a notice of appeal is $255, among other fees.