In this episode, Luke Homen explains one of the most common concerns people have about bankruptcy — what property they’re allowed to keep after filing. As the president of Convenient Bankruptcy, Luke walks through Oklahoma’s generous exemption laws and how they protect homes, vehicles, and personal belongings. He breaks down the difference between state and federal exemptions, explains how to calculate vehicle equity, and dispels the myth that filing bankruptcy means losing everything. Luke also shares practical examples and strategies for maximizing what clients can keep during the process.

00:01 – Introduction to the Episode

00:45 – Common Fears About Losing Property in Bankruptcy

01:20 – Understanding Bankruptcy Exemptions and Why They Matter

02:00 – Types of Property Protected in Oklahoma Bankruptcies

03:10 – How Household Items Are Valued and Protected

04:00 – Oklahoma’s Homestead Exemption and How It Protects Homeowners

05:05 – Differences Between Federal and Oklahoma State Exemptions

06:00 – How Vehicle Exemptions Work and How to Calculate Equity

07:15 – Examples of Clients Keeping Multiple Vehicles

08:15 – Strategies to Maximize What You Keep During Bankruptcy

09:00 – Key Takeaway: Why Most People Keep Far More Than They Expect

“All About Bankruptcy” helps Oklahomans understand their rights and options when facing financial hardship. Hosted by Luke Homen, each episode provides clear explanations and practical guidance on how to protect assets, stop creditor harassment, and achieve lasting financial freedom through the bankruptcy process.