Asked in Bankruptcy for Oklahoma

Q: I have 2 cars in my name and I'm married. Can I keep both?

One of the vehicles is paid off the other is not as it is my wifes.

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2 Lawyer Answers

Timothy Denison

Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Depends on the value of these vehicles and the equity therein.

Todd Laster

Answered
  • Bankruptcy Lawyer
  • Tulsa, OK
  • Licensed in Oklahoma

A: Under Oklahoma exemptions in a joint case where both spouses file bankruptcy each are able to exempt one car at a value of $7500 per vehicle. If there is a loan against a vehicle the equity should not exceed $7500 to be a protected asset.

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