Oklahoma Bankruptcy Exemptions

Though federal supplemental exemptions can be used with the Oklahoma bankruptcy exemptions, the debtor cannot replace the state-specified exemption list with the federal set of exemptions. The state laws do not allow you to exempt any property additionally under the wildcard category. However, the exemptions in other categories are available, which can be availed in the following manner.


You can exempt up to 3/4th of the total wages earned within the last three months prior to filing petition for bankruptcy. However, if you show the proof of hardship, such as if you have a very low monthly income, the court may consider you for a higher exemption in wages.

Tools Of Trade

Up to $10000 in aggregate total can be availed in Oklahoma bankruptcy exemptions for apparatus, books, tools, and implements needed to farm homestead.

Public Benefits

Certain types of public benefits are also exemptible that include Workers’ compensation, Unemployment compensation, Social Security, Public assistance, and Crime victims’ compensation.

Personal Property

The exemptions for different types of personal properties can be availed in the following manner.

- Up to $7500 in motor vehicle
- forage & feed up to an extent that should last at least twelve months
- Two horses, bridles, & saddles
- Ten hogs
- Twenty sheep
- One hundred chickens
- Five dairy cows & calves under six months
- Livestock for family or personal use
- 100% of health aids
- Up to $2,000 in guns for household use
- Food & seed for growing up to an extent that should last at least twelve months
- 100% of Federal earned income tax credit
- 100% of deposits in an Individual Development Account (IDA)
- 100% of College savings plan interest
- Up to $4,000 in clothing
- 100% of burial plots, pictures, portraits, and books


Oklahoma bankruptcy exemptions can be availed for the following types of pensions.

- Teachers pensions
- Tax exempt benefits
- Public employees pensions
- Police officers pensions
- Law enforcement employees pensions
- Judges pensions
- Firefighters pensions
- ERISA-qualified benefits, including Keoghs, Education IRAs, Roth IRAs, and IRAs
- Disabled veterans pensions
- County employees pensions


The following additional exemptions are allowed in the miscellaneous category.

- Any property that is being used in a business partnership
- Liquor license
- Beneficiary’s interest in a statutory support trust
- Child support payments
- Alimony payments


You can avail Oklahoma bankruptcy exemptions in full (100%) for the following types of insurance benefits as well.

- Limited stock insurance benefits
- Mutual benefit, accident, health, and life insurance proceeds and cash value provided there is a clause in the policy contracts that does not allow the use of proceeds to pay off debts owed by the policyholder
- Group life policy or proceeds
- Funeral benefits prepaid and placed in trust
- Fraternal benefit society benefits
- Assessment or mutual benefits.
- Annuity benefits and cash value


Oklahoma bankruptcy exemptions for homestead properties can be availed as per the following provisions.

- Debtors are allowed to rent homestead as long as they do not need any other residence.
- Only up to $5000 an be exempted in this category if more than 1/4th part of the property is being used for business
- If the property is being used for residential purposes, there is no exemption limit (unlimited) in terms of equity value but the area of the property must not exceed one acre in village, town, or city, and one hundred and sixty acres in other places.

Every bankruptcy case is a different one, as there are plenty of factors that are taken into account. The exact details of the Oklahoma bankruptcy exemptions may vary depending upon your specific case. Therefore, it will be a wise idea to first discuss your case with a specialized Oklahoma bankruptcy attorney. After studying your case thoroughly, they will be able to give you an accurate description.

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One Response to “Oklahoma Bankruptcy Exemptions”

  1. kelvin says:

    Oklahoma state does not allow its residents to use federal set of exemptions but they can combine federal supplemental exemptions. With the state specified exemptions, Oklahoma provides you the exemption in wages earned for a specific limit but if you are not earning well you can get some more exemption in wages. You can get your tools exempted under the category of tools of trade if you need some books, specific tools or apparatus it can be exempted under this category. Worker’s compensation, unemployment compensation and many more can also be exempted under the category of public benefits. Oklahoma provides you exemptions in personal property under different type of categorization and for some specific limit, you can get some exemption for your vehicle and you can get the exemption limited for some specific number of your animals or for sheep, cows, calves and chickens also. There are so many different type of exemptions can be taken under the category of personal property and for different pensions also. Residents of Oklahoma can start a fresh financial life even after being bankrupt.

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