Oklahoma Bankruptcy HelpWhat Are Bankruptcy Costs in Oklahoma?

Individuals as well as businesses in Tulsa, Oklahoma fall into financial trouble; sometimes the problem is the result of bad luck and other times the problem is caused by poor judgment.

Whatever the case may be, most generally honest people are eligible for at least partial debt assistance through the United States Bankruptcy Court.

However, unless you are destitute you will probably have to pay a variety of bankruptcy costs in Oklahoma. Also, all types of business bankruptcy require you to hire an attorney. Hiring a lawyer is highly recommended for personal bankruptcy cases.

FAQ: Bankruptcy Costs in Oklahoma

As of 2016, it cost $335 to file a personal or business Chapter 7 case, according to the United States Bankruptcy Court Northern District of Oklahoma.

The filing fees are the same regardless of the city, county, state, or U.S. territory of residence. Chapter 7 allows for permanent removal of many pre-existing debts.

If you earn less than 150 percent of Oklahoma’s average annual poverty level, a Tulsa bankruptcy judge may allow you to file a personal Chapter 7 case without paying the usual bankruptcy costs in Oklahoma.

People with provable financial problems that are not extensive enough to qualify for a fee waiver may be permitted to cover their bankruptcy costs in Oklahoma in four to six installments. However, the Tulsa bankruptcy case will not be discharged or finalized until all fees are paid.

Oklahoma bankruptcy courts do not accept personal checks or credit cards.

Additional Fee Information

It costs $1,717 to file a business Chapter 11 case. Some sole proprietors may opt to file Chapter 11, which allows restructuring of business and personal debts into a partial debt repayment plan.

Bankruptcy costs in Oklahoma for a personal or business Chapter 13 case are $310. This is another type of partial debt repayment plan, though it is considerably less complicated than Chapter 11. It takes three to five years to complete a repayment program under Chapter 13.

Additional Facts

Remember that all bankruptcy laws in Tulsa are complex, and that generally people can benefit from hiring an attorney to help them navigate the Oklahoma bankruptcy court system.

These fees are always separate from any court costs, and negotiated between you and the Tulsa bankruptcy attorney of your choice.

Free Bankruptcy Planning: Tulsa Bankruptcy Lawyer

To get the best possible outcome in your bankruptcy case, you will need to set expectations for yourself and also understand your attorney’s expectations of you.

If you’re ready to file, contact a Tulsa bankruptcy attorney at the Freedom Financial Bankruptcy Lawyers of Tulsa as soon as possible.

To receive your free initial bankruptcy analysis, call the Freedom Financial Bankruptcy Lawyers of Tulsa today at 918-786-9600.