A Guide: How To File Chapter 13 Bankruptcy In Oklahoma

If you have non-business debts but have some assets and a consistent income, you may want to consider filing for Chapter 13 bankruptcy in Oklahoma. This sort of bankruptcy is less destructive to your credit and assets than Chapter 7, but it is still a major step. Continue reading to learn how to file Chapter 13 in Oklahoma.

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Initial Steps:

You must gather a number of documents before filing for bankruptcy, including the following:

  • A comprehensive list of all your creditors, including doctors, landlords, utility companies, banks, and vehicle or mortgage lenders.
  • A comprehensive list of your assets, including jewels, automobiles, land, residential property, bank accounts, and retirement accounts.
  • Your three most recent federal income tax returns, or confirmation that you were not required to submit taxes. If you haven’t filed your tax returns in a while, you must do so before filing Chapter 13 in Oklahoma (even if you can’t pay the actual tax bills).
  • Proof that you received pre-bankruptcy credit counseling from a federally recognised organization. Since the 2005 bankruptcy reform, this has been a necessity.


A wage earner’s plan is another name for a chapter 13 bankruptcy. It allows people who have a regular income to create a plan to pay off all or portion of their obligations. Debtors offer a repayment plan to creditors in this chapter, with payments to creditors spread out over three to five years. Unless the court permits a longer period “for cause,” the plan will be for three years if the debtor’s current monthly income is less than the applicable state median. How to file chapter 13 bankruptcy in Oklahoma, If the debtor’s current monthly income exceeds the applicable state median, the plan must typically last five years. A plan may not provide for payments to be made over a period of more than five years. During this time, creditors are prohibited from beginning or continuing collection efforts by law.

The Process:

How to file chapter 13 bankruptcy in oklahoma:

You will be compelled to attend a 341 meeting of creditors once you or your Tulsa bankruptcy attorney file a petition with the United States Bankruptcy Court. This gives your creditors the opportunity to file a bankruptcy objection. The majority of 341 meetings are short and uneventful; nevertheless, your creditors may protest if they suspect you misled to secure credit or are concealing assets.

The good news is that once you file Chapter 13, all collection operations in Oklahoma must cease. Your creditors are unable to contact you, write to you, sue you, or garnish your earnings under the law.

Your case will be assigned to a court trustee. He or she will work with you to come up with a repayment plan that will reduce your financial stress while also partially satisfying your creditors.

Important Times Frames:

The fact that you filed Chapter 13 in Oklahoma will have a seven-year negative impact on your credit rating. The good news is that the seven-year period starts on the day you or your attorney filed bankruptcy papers.

Your Chapter 13 plan will require you to make payments for three to five years. During this time, your bankruptcy court trustee is in charge of your finances. As a result, you will be unable to obtain new credit without his or her authorization. Also, any financial windfalls (bonuses, presents, inheritances, and the like) could be used to pay off your debts in part or in full.

Free Consultation: Chapter 13 in Oklahoma Attorney

Bankruptcy law and forms are complex, and making mistakes can be costly. It is critical to complete the paperwork correctly the first time.

Your lawyer can explain the procedure to you, including what debts you’ll most likely have to pay, which debts are secured by collateral, and what property is exempt.

We know how to execute the filings right and how to make the process efficient because we’ve worked with so many clients. Our objective is to make debt relief in Tulsa accessible for everyone who needs help getting out of debt and back on track with their finances.

Call for assistance right now to get out from under. We’re here to assist you. Call Freedom Financial Bankruptcy Lawyers of Tulsa today at 918-786-9600 for a free initial bankruptcy consultation.

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