All About Bankruptcy

Filing Bankruptcy in Oklahoma City vs. Tulsa: What’s the Difference?

Episode Summary:In this episode of All About Bankruptcy, Attorney Luke Homen explains what life looks like after filing bankruptcy. He breaks down how soon Oklahomans can get approved for car loans, mortgages, and credit cards, and why lenders often view bankruptcy clients as lower-risk borrowers. Luke also shares insight on rebuilding credit scores, the differences between Chapter 7 and Chapter 13 when it comes to new loans, and how to move forward with financial confidence.
Key Timestamps:
00:00 – Introduction to life after bankruptcy01:00 – Why filing bankruptcy can improve loan eligibility02:10 – How bankruptcy affects your credit report03:00 – Rebuilding your credit score with the “7 Steps to 720” program04:00 – What lenders look for after bankruptcy05:00 – Importance of on-time payments in rebuilding credit06:00 – Differences between Chapter 7 and Chapter 13 loan approvals07:00 – How soon clients qualify for mortgage loans again08:00 – Real client stories: getting a new car loan days after filing09:00 – Luke’s advice for anyone worried about loans after bankruptcy
About the Show:All About Bankruptcy helps Oklahomans take control of their financial future. Each episode, Attorney Luke Homen shares practical guidance on debt relief, bankruptcy law, and rebuilding credit with confidence and clarity.

Oklahoma Bankruptcy Exemptions: What Property Can You Keep?

Episode Summary: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.
Key Timestamps:00:01 – Introduction to the Episode00:45 – Common Fears About Losing Property in Bankruptcy01:20 – Understanding Bankruptcy Exemptions and Why They Matter02:00 – Types of Property Protected in Oklahoma Bankruptcies03:10 – How Household Items Are Valued and Protected04:00 – Oklahoma’s Homestead Exemption and How It Protects Homeowners05:05 – Differences Between Federal and Oklahoma State Exemptions06:00 – How Vehicle Exemptions Work and How to Calculate Equity07:15 – Examples of Clients Keeping Multiple Vehicles08:15 – Strategies to Maximize What You Keep During Bankruptcy09:00 – Key Takeaway: Why Most People Keep Far More Than They Expect
About the Show:“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.

How Much Does It Cost to File Bankruptcy in Oklahoma?

Episode Summary:In this informative episode, Luke Homen breaks down one of the most common questions people ask—how much it actually costs to file for bankruptcy in Oklahoma. Luke, president of Convenient Bankruptcy, explains the filing fees for Chapter 7 and Chapter 13 cases, additional required costs like credit counseling and credit reports, and how attorney fees are determined. He also discusses payment plan options, the risks of choosing low-cost or inexperienced attorneys, and why investing in quality representation can save time, money, and stress in the long run.
Key Timestamps:00:01 – Introduction to the Episode00:42 – Court Filing Fees for Chapter 7 and Chapter 13 Bankruptcies01:20 – Required Credit Counseling and Credit Report Costs02:10 – Why Filing Fees Differ Between Chapter 7 and Chapter 1303:05 – How Attorney Fees Are Structured in Bankruptcy Cases04:00 – Payment Plan Options for Clients05:15 – Bankruptcy Costs Across Different Oklahoma Courts06:00 – The Risks of Choosing Low-Cost or Inexperienced Attorneys07:10 – Real-Life Examples of Clients Who Tried to Save Money08:30 – The Value of Hiring a Full-Service Bankruptcy Firm09:20 – Why Free Consultations Are Worth It for Anyone Considering Bankruptcy
About the Show:“All About Bankruptcy” helps Oklahomans understand the realities of bankruptcy and debt relief. Hosted by Luke Homen, the show covers practical legal insights and financial strategies to help individuals stop wage garnishments, end creditor harassment, and regain financial control.

How the Automatic Stay Works in Bankruptcy: Stopping Garnishments, Foreclosure, and Harassment

Episode Summary:In this insightful episode, Luke Homen explains the power of the automatic stay and how it provides immediate legal protection for individuals filing bankruptcy. As the president of Convenient Bankruptcy and a seasoned Oklahoma bankruptcy professional, Luke breaks down how quickly the automatic stay goes into effect, which creditors it impacts, and how long the protection lasts. He also discusses exceptions for specific debts like child support and taxes, what happens when creditors violate the stay, and the differences between how it functions in Chapter 7 and Chapter 13 cases.
Key Timestamps:00:01 – Introduction to the Episode00:45 – What the Automatic Stay Is and How It Works01:40 – Creditors Protected Against by the Automatic Stay03:05 – Duration of the Automatic Stay in Chapter 7 and Chapter 1304:25 – When and How Creditors Can Request to End the Automatic Stay06:00 – How the Automatic Stay Applies to Child Support and Tax Debts07:05 – What to Do If Creditors Continue Harassment After Filing Bankruptcy08:45 – Differences in Automatic Stay Protection Between Chapter 7 and Chapter 1309:20 – The Importance of Understanding the Automatic Stay and Seeking Legal Help
About the Show:“All About Bankruptcy” helps listeners understand the key protections, processes, and solutions available under bankruptcy law. Hosted by Luke Homen, the show provides clear explanations and practical guidance for those facing financial distress, creditor harassment, and wage garnishment—offering real strategies to achieve lasting debt relief and peace of mind.

How Wage Garnishment Really Works in Oklahoma

Episode Summary:In this informative episode, Luke Homen breaks down the essentials of wage garnishment—what it is, how it works, and how individuals can stop it. As the president of Convenient Bankruptcy and one of Oklahoma’s leading bankruptcy professionals, Luke explains the step-by-step process creditors must follow, the limits on how much can be garnished, and what legal protections exist for employees. He also shares practical insights on the difference between W-2 and 1099 workers, how business owners are affected, and the most common mistakes people make when facing wage garnishment.
Key Timestamps:00:01 – Introduction to the Episode00:45 – What Wage Garnishment Looks Like and How It Works02:05 – Types of Debt Eligible for Wage Garnishment03:15 – Legal Process and Steps Creditors Must Follow05:05 – How Much of a Paycheck Can Be Garnished in Oklahoma06:40 – Impact of Wage Garnishment on Everyday Budget07:55 – Options to Stop or Reduce Wage Garnishment Without Bankruptcy09:10 – How Bankruptcy Stops Wage Garnishment09:45 – Wage Garnishment for W-2 Employees vs. 1099 Contractors11:15 – How Business Owners Are Affected by Wage Garnishment12:30 – Common Mistakes People Make When Facing Garnishment14:10 – The First Step for Anyone Facing Wage Garnishment
About the Show:“All About Bankruptcy” explores the realities of financial distress and the legal tools available to help people regain financial control. Hosted by Luke Homen, this show provides clear, practical guidance on bankruptcy, debt relief, and financial recovery for individuals and families navigating tough economic times.

How Much Will My Chapter 13 Plan Payment Be?

Episode Summary
In this episode, Luke breaks down one of the biggest questions people have about Chapter 13 bankruptcy: “What will my monthly plan payment be?” He explains the formula behind the calculation, what factors affect your payment, and how it can change over time. Luke also discusses how income, secured and priority debts, administrative costs, and even life events all come into play. If you’ve ever wondered how Chapter 13 payments are structured and why they differ for everyone, this episode will give you the full picture.
 
What You’ll Learn in This Episode
What a Chapter 13 plan payment covers and how it works
How your income, debts, and assets determine your monthly amount
The difference between 0%, 100%, and partial repayment plans
How secured debts like car loans and mortgages are handled
What happens to back taxes and child support in bankruptcy
How administrative fees and trustee costs are factored in
Why your plan payment might change during the 3–5 year period
How objections from creditors or trustees are resolved
What to expect when calculating your payment during consultation
 
Key Timestamps
00:00 – 02:00 — What is a Chapter 13 plan payment and why it matters02:00 – 04:30 — How income affects whether you pay 0%, 100%, or somewhere in between04:30 – 07:00 — How secured debts are handled: cars, mortgages, and arrears07:00 – 09:30 — Understanding priority debts like taxes and child support09:30 – 11:00 — Administrative costs and how they’re built into your payment11:00 – 14:00 — How your final monthly payment is calculated14:00 – 16:00 — What happens if your income or expenses change16:00 – 17:30 — How objections from creditors or trustees are handled17:30 – 19:00 — Luke’s advice for getting a realistic estimate before filing
 
Show Description
If you’re thinking about filing for Chapter 13 bankruptcy, one of the first things you’ll want to know is what your monthly payment will look like. In this episode, Luke explains how those numbers are calculated, what goes into the formula, and how your payment can change over time. From understanding secured and priority debts to knowing what to expect at each step of the process, this episode is your guide to navigating Chapter 13 with clarity and confidence.

Six Ways to Qualify for Chapter 7 Bankruptcy (Even If You Think You Can’t)

Episode Summary:In this episode of All About Bankruptcy, Oklahoma bankruptcy attorney Luke Homen, founder of Convenient Bankruptcy, talks about the surprising number of ways people can qualify for Chapter 7 bankruptcy. Luke outlines six different paths to eligibility, even for those who think they make too much money or own too many assets. From the median income test and the means test to rare exemptions, business debt loopholes, and life-changing financial stories, Luke explains how clients can still find debt relief through Chapter 7. This practical conversation offers clarity for anyone who has been told “no” but still needs a fresh start.
Key Timestamps:
00:01 – Show introduction01:04 – Median income test based on family size03:18 – How the means test works and why net income matters more than gross08:40 – Rare exemptions for service members and war crime victims11:29 – Converting a Chapter 13 case into a Chapter 714:56 – Filing a Chapter 7 under presumption of abuse and telling your story20:45 – How to rebut the presumption of abuse with unique circumstances25:32 – Why many people wrongly assume they don’t qualify28:47 – Business and tax debt as a path to bypass the means test33:10 – Luke’s advice for anyone who feels stuck or has been told “no”
About the Show:
All About Bankruptcy with Luke Homen helps individuals and families in Oklahoma understand their options for debt relief. With years of experience guiding clients through Chapter 7 and Chapter 13 cases, Luke breaks down the bankruptcy process in plain language and shows how everyday people can get a financial fresh start with confidence.

What Bankruptcy Really Stops, and What It Doesn’t

Episode Summary:In this episode of Bankruptcy Unlocked, Oklahoma bankruptcy attorney Luke Homen explains one of the most important protections in bankruptcy law: the automatic stay. Luke breaks down exactly what bankruptcy stops—lawsuits, wage garnishments, foreclosure—and what it doesn’t, such as ongoing evictions or child support obligations. He also explains how Chapter 7 and Chapter 13 differ in protecting assets, what happens to co-signers, and why even state governments and tribal lenders must comply with bankruptcy law. Packed with real-world examples, Luke shows how bankruptcy can provide immediate relief, protect wages and homes, and even stop aggressive creditors in their tracks.
Key Timestamps:
00:01 – Welcome and introduction02:10 – What actions must immediately stop when bankruptcy is filed05:00 – How the automatic stay works in real life08:20 – Stopping wage garnishments through bankruptcy12:15 – Does bankruptcy stop eviction or foreclosure?1:40 – How Chapter 13 can save a home from foreclosure20:05 – What debts bankruptcy does not eliminate (child support, criminal fines)24:30 – How creditors request relief from the automatic stay28:15 – What to do if creditors keep harassing after a bankruptcy filing32:00 – Does bankruptcy protect co-signers? The Chapter 7 vs. Chapter 13 difference36:15 – Myths about bankruptcy and creditor actions (licenses, tribal loans, state taxes)41:50 – Why the automatic stay is more powerful than state or tribal law45:00 – Final advice for overwhelmed debtors and how to get help
About the Show:
Bankruptcy Unlocked with Luke Homen helps individuals understand their rights and options when facing overwhelming debt. Hosted by Oklahoma bankruptcy attorney Luke Homen, each episode provides practical guidance on Chapter 7, Chapter 13, and how the bankruptcy code protects families from creditor harassment, foreclosure, and financial chaos.

Who’s Who in Bankruptcy? Understanding Everyone Involved in Your Case

Episode Summary:In this insightful episode of All About Bankruptcy, Oklahoma bankruptcy attorney Luke Homen explains the key players in a bankruptcy case and why having the right legal guide matters. Luke unpacks the differences between debtors, trustees, creditors, and judges, while clarifying how secured and unsecured creditors play distinct roles. He also shares why timing is critical in bankruptcy filings, the risks of going it alone, and how his firm, Convenient Bankruptcy, helps Oklahomans protect assets, reduce stress, and navigate the process with confidence.
Key Timestamps:
00:01 – Show introduction and welcome01:20 – Comparing bankruptcy cases with criminal and civil cases02:30 – The debtor at the center of every bankruptcy case03:15 – Chapter 7 trustee vs. Chapter 13 trustee explained05:45 – Role of the U.S. Trustee as a watchdog in the bankruptcy system07:10 – Do most bankruptcy cases involve court appearances?08:40 – Understanding secured creditors, unsecured creditors, and priority creditors11:20 – What happens at the Section 341 meeting of creditors14:10 – Common creditor questions during bankruptcy cases15:30 – Risks of filing bankruptcy without legal representation17:05 – Why timing is critical when filing bankruptcy18:15 – Advice for individuals feeling overwhelmed by the bankruptcy process19:45 – Closing thoughts and call to action
About the Show:
 All About Bankruptcy  with Luke Homen is dedicated to helping Oklahomans understand their legal options when facing financial hardship. Hosted by attorney Luke Homen, founder of Convenient Bankruptcy, the show provides practical guidance on eliminating debt, protecting assets, and moving forward with clarity and peace of mind.

What Happens After You File for Bankruptcy? Recovery, Credit Repair & Your New Start

Episode Summary
Attorney Luke Homen explores the post-bankruptcy process, detailing the immediate protections of the automatic stay, the 341 meeting of creditors, and strategies for credit repair and financial recovery. The episode provides practical guidance on halting creditor actions, addressing financial challenges, and rebuilding credit to achieve a brighter financial future.
Key Timestamps
00:00 - Show Introduction and Welcome
01:30 - Understanding the Automatic Stay Protections
04:00 - Bankruptcy Noticing and Creditor Communication
07:00 - Preparing for Bankruptcy Filing
10:00 - The 341 Meeting of Creditors Process
13:00 - Rebuilding Credit After Bankruptcy
16:00 - Financial Recovery Post-Bankruptcy
19:00 - Conclusion and Call to Action
About the Show
All About Bankruptcy is a podcast dedicated to empowering individuals with the knowledge to navigate bankruptcy with confidence and dignity. Featuring attorney Luke Homen, the show provides expert insights into the legal and financial aspects of bankruptcy, helping listeners achieve a fresh start and rebuild their financial future.