Filing Chapter 7 Bankruptcy in Tulsa: What the Process Looks Like

If you live in Tulsa and you are behind on credit cards, medical bills or a judgment, Chapter 7 is often the fastest way to a fresh start. Here is what the process looks like, from the first call to the discharge.

Who can file Chapter 7

Chapter 7 is for people who cannot realistically pay their debts. To qualify, you have to pass the means test, which compares your household income to the Oklahoma median for a household your size. If your income is above the median, a second calculation looks at your actual expenses. Many people who earn more than they expect still qualify. If you are not sure which chapter fits, read Chapter 7 or Chapter 13: Which Bankruptcy Fits You in Oklahoma?

Step 1: Credit counseling

Before you file, federal law requires a short credit counseling course from an approved provider, taken within 180 days before the filing. Most people do it online in about an hour.

Step 2: The petition

We gather your pay stubs, tax returns, bank statements, and a list of what you own and what you owe. The petition is filed with the United States Bankruptcy Court for the Northern District of Oklahoma, which sits in Tulsa.

Step 3: The automatic stay

The moment the case is filed, the automatic stay stops most collection: wage garnishments, lawsuits, collection calls, and most repossessions. See How to Stop a Wage Garnishment in Oklahoma.

Step 4: The 341 meeting

A few weeks after filing, you answer questions under oath from the bankruptcy trustee. Under the federal bankruptcy rules, it is set 21 to 40 days after the case is filed. Most meetings are short, and your lawyer is with you. Read What Happens at the 341 Meeting in a Tulsa Bankruptcy?

Step 5: The second course

After filing, you complete a debtor education course. The court will not enter a discharge until it is done.

Step 6: The discharge

If no one objects, the court usually enters the discharge shortly after the deadline to object, which falls 60 days after the first date set for the 341 meeting. For most people, the whole case takes about three to four months.

What you can keep

Oklahoma's exemptions are generous. Most people who file Chapter 7 keep their home, their car and their retirement accounts. The details are in What Can I Keep If I File Chapter 7 in Oklahoma?

What Chapter 7 does not erase

Most student loans, child support, alimony, many recent taxes, and debts from fraud usually survive a Chapter 7. If those are your main debts, Chapter 13 or another option may fit better.

What it costs

There is a court filing fee and an attorney fee. Our Tulsa bankruptcy attorney page explains how to get started with $100 down.

To talk about your situation, call (918) 221-6190 or request a free consultation.

This article is general information about Oklahoma and federal bankruptcy law, not legal advice for your situation. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.