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What Oklahoma Filers Need to Know About Bankruptcy Changes in 2026

by Luke Homen

If you have been thinking about filing for bankruptcy in Oklahoma, there are changes in 2026 worth knowing before you file. The good news: the core process for Chapter 7 and Chapter 13 has not changed in ways that make it harder for most people to qualify. But there are updated income thresholds, new debt […]

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Why Do Business Owners File Chapter 7 Bankruptcy?

by Luke Homen

You signed on the dotted line. It felt like a formality at the time, a personal guarantee for a business loan or a commercial lease. The business was doing fine, and you didn’t think twice. Then revenue dropped, debt piled on, and now the business is struggling or closed. The creditors, though? They’re still calling. […]

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Will You Lose Your Tax Refund If You File Chapter 7 Bankruptcy in Oklahoma?

by Luke Homen

Possibly. But only part of it, and only for one year. When you file Chapter 7 bankruptcy in Oklahoma, there is a good chance that the bankruptcy trustee will ask you to turn over a portion of your tax refund the following year. It comes as a surprise to people when they hear this. But […]

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Military Families and Co-Signed Debt: What Happens to a Spouse or Parent After a Chapter 7 Filing?

by Luke Homen

If a service member or veteran files Chapter 7 bankruptcy, the people who co-signed their loans do not get the same protection. The discharge wipes out the filer’s obligation. It does not erase the co-signers. The moment the bankruptcy case closes, creditors can turn their full attention to the spouse, parent, or family member who […]

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Western District of Oklahoma Local Rule Revisions: What Filers Should Watch

by Luke Homen

The Western District of Oklahoma Bankruptcy Court has adopted significant revisions to its local rules, effective January 15, 2026. If you’re filing bankruptcy in Oklahoma City, Norman, or anywhere in Western Oklahoma, you might be wondering how these changes affect your case. These updates are designed to make the bankruptcy process smoother and more efficient. […]

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