Oklahoma Bankruptcy Exemptions

On this page you can find all of the exemptions for Oklahoma. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Home or manufactured home constituting principal residence of debtor
160 acres of rural land OR 1 acre of urban land At least 75% of improved area of homestead must be used as principal residence, otherwise exemption is limited to $5,000. See 31 Okla. Stat. § 2.
31 Okla. Stat. §§ 1(A)(1), 1(A)(2)
Motor Vehicle
Debtor's interest in one motor vehicle
$7,500
31 Okla. Stat. § 1(A)(13)
Wages / Wage Garnishment
Wages if subject to garnishment for child support
40% (50% if debtor has dependants)
12 Okla. Stat. § 1171.2(B)
Wages / Wage Garnishment
Wages or earnings from personal services during last 90 days
75% (support claims excepted) 100% if undue hardship is shown
31 Okla. Stat. §§ 1(A)(18), (1.1)
Insurance
Prepaid funeral benefits
100%
36 Okla. Stat. § 6125
Insurance
Assessment or mutual benefits
100%
36 Okla. Stat. § 2410
Insurance
Fraternal Benefit Society benefits
100%
36 Okla. Stat. § 2718.1
Insurance
Proceeds of life insurance, health or accident insurance policies payable to person other than insured
100%
36 Okla. Stat. § 3631.1
Insurance
Group life insurance proceeds
100%
36 Okla. Stat. § 3632
Personal Property
Property and lots of cemetery corporations
100%
8 Okla. Stat. § 7
Personal Property
Household and kitchen furniture, including personal computer
100%
31 Okla. Stat. § 1(A)(3)
Personal Property
Claims for personal injury, death, or workers compensation
$50,000
31 Okla. Stat. § 1(A)(21)
Personal Property
Personal guns
$2,000
31 Okla. Stat. § 1(A)(14)
Personal Property
5 milk cows & their calves under 6 months old, 100 chickens, 2 horses, 2 bridles, 2 saddles, 10 hogs, 20 sheep, and 1 year’s provisions or forage on hand or growing for exempt stock
100% (stock must be held for personal, family, or household use of debtor or dependents)
31 Okla. Stat. §§ 1(A)(10), (11), (12), (15), (16), (17)
Personal Property
Professionally prescribed health aid of debtor and dependents
100%
31 Okla. Stat. § 1(A)(9)
Personal Property
Wedding & anniversary rings
$3,000
31 Okla. Stat. § 1(A)(8)
Personal Property
Personal wearing apparel of debtor or dependents
$4,000
31 Okla. Stat. § 1(A)(7)
Personal Property
Cemetery lots
100%
31 Okla. Stat. § 1(A)(4)
Pensions / Retirement Accounts
Public employees' retirement benefits
100% (spouse's QDRO benefits excepted)
74 Okla. Stat. § 923
Pensions / Retirement Accounts
Schoolteachers' retirement benefits
100% (spouse's QDRO benefits excepted)
70 Okla. Stat. § 17-109
Pensions / Retirement Accounts
Police pension benefits
100% (spouse's QDRO benefits excepted)
11 Okla. Stat. § 50-124
Pensions / Retirement Accounts
Firemen's pension benefits
100% (spouse's QDRO benefits excepted)
11 Okla. Stat. § 49-126
Pensions / Retirement Accounts
Interests in retirement, pension, or profit-sharing plans, trusts or contracts
100%, if so provided in plan, trust or contract
60 Okla. Stat. § 327 & 328
Pensions / Retirement Accounts
Pension-law enforcement retirement systems
100%
47 Okla. Stat. § 2-303.3
Pensions / Retirement Accounts
Armed services pension benefits
100%
31 Okla. Stat. § 7
Pensions / Retirement Accounts
Municipal retirement fund benefits
100% (QDRO excepted)
11 Okla. Stat. § 48-103
Pensions / Retirement Accounts
Pension of county employees
100%
19 Okla. Stat. § 959
Pensions / Retirement Accounts
Judges' retirement benefits
100% (spouse's QDRO benefits excepted)
20 Okla. Stat. § 1111
Pensions / Retirement Accounts
Assets and benefits of retirement plans and IRAs qualified under I.R.C., including Roth IRAs and educational IRAs
100% of tax exempt portions
31 Okla. Stat. § 1(A)(20); 1(A)(23), , (24), & 60 Okla. Stat. §328
Tools of the Trade
Personal books, portraits and pictures of debtor or dependents
100%
31 Okla. Stat. § 1(A)(6)
Tools of the Trade
Implements of husbandry used on homestead, tools, apparatus and books used in trade or profession by debtor or dependents
$10,000
31 Okla. Stat. § 1(A)(5)
Public Benefits
Unemployment compensation benefits
100%
40 Okla. Stat. § 2-303
Public Benefits
Crime victim’s reparation awards
100% (except child support)
21 Okla. Stat. § 142.13
Public Benefits
Federal earned income tax credits
100%
31 Okla. Stat. § 1(A)(23)
Public Benefits
Public assistance payments
100%
56 Okla. Stat. § 173
Miscellaneous
Property of urban renewal authority
100%
11 Okla. Stat. § 38-112
Miscellaneous
Property of housing authority
100%
63 Okla. Stat. § 1075
Miscellaneous
Specific partnership property
100% of partner's interest
54 Okla. Stat. § 1-501-504
Miscellaneous
War bond payroll savings accounts
100%
51 Okla. Stat. § 42
Miscellaneous
Funds in individual development account created under 56 OSA § 251 et seq.
100%
31 Okla. Stat. § 1(A)(22)
Miscellaneous
Alimony, support, or maintenance payments
Amount necessary for support of debtor and dependents
31 Okla. Stat. § 1(A)(19)
Tuition Savings Account
Any interest in an Oklahoma College Savings Plan established under 70 OSA § 3970.1
100%
31 Okla. Stat. § 1(A)(24)

If you want to learn more about filing bankruptcy in Oklahoma please visit our FAQ Page or for more information about Oklahoma you can visit the Oklahoma section.