Bankruptcy Attorney Explains Oklahoma Chapter 7

Описание: Bankruptcy Attorney Explains Oklahoma Chapter 7. For example, in Oklahoma, you're in the 40s for one person and you can add close to 10,000 onto that for more.

Two people, 50, 3... Somewhere in that neighborhood, even if you're over, if you're not too far over and you have some expenses, high mortgage, high car payment, you can probably still qualify.

So what's exempt in the seven, your home. Now that exemption varies by state or federal exemptions. In Oklahoma, we've got one of the best.

If you're in the city limits and on less than an acre, it's basically unlimited. If you're out in the country, 160 acres. And your vehicle, we have a decent exemption for that too. 7,500 in value, meaning if it's paid off, if it's worth 7,500 or less, or if you owe, if you sold it, would you have 7,500 or less leftover?

What do you owe minus what it's worth, for example? Your normal personal property, your TVs and your furniture, all that's going to generally be exempt. Oklahomans, we're lucky in that we have pretty good exemption laws.

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