Oklahoma is a southwestern state of United States of America. It is divided into three regions: northern, eastern and western. Thus there are three regions into which Oklahoma bankruptcy courts are divided. To access Oklahoma Bankruptcy Records, you can visit online databases of state and federal court cases. Bankruptcy has become a very common term, especially in the post recession phase. With so many small companies filing for bankruptcy, it has become all the more important to have an in-depth knowledge of bankruptcy and its related legal terms.
Locate Oklahoma Bankruptcy Cases
Apart from providing legal details on Oklahoma bankruptcy record, these websites also throw light on different aspects to be considered before proceeding with filing bankruptcies. For example, it is always recommended to gather all information beforehand before starting with legal procedures. Information would include the names and addresses of the creditors, total sum they owe, your list of assets including home, car and even boats, the documents of the last submitted tax returns and the documents of any legal proceedings.
In 2007, there were 967, 831 bankruptcy cases in all over US. This is a rise of nearly 30% from 2007 when there were 751,056 bankruptcy petitions were filed. In Oklahoma itself, there were 9127 bankruptcy filings. The statistics of 2008 has made it rank 21st out of the 51 districts of America.
To gather information on Oklahoma bankruptcy cases, you can take help of PACER or Public Access of Courtroom Electronic Records. This is a paid service which needs registration to get activated. There is also a helpline number for you which are available 24 X 7. Once registered, you can access Oklahoma Bankruptcy Records without any training or document. With a marginal price paid per page, you can download the information and later print it for your use.
According to the Bankruptcy Codes as per US Constitution, there are six chapters on bankruptcy. Of them, 7th and 13th chapters are the most popular ones as they deal with personal bankruptcies and rehabilitation from the debt within five years with an effective payback plan. A small piece of statistics can explain this. Even long time prior to the recession, in 2001 there were 24,997 bankruptcy cases filed in Oklahoma. Of these, 21,076 cases were based on Chapter 7 and almost 2700 cases on Chapter 13.
Like any other bankruptcy court, the Oklahoma Bankruptcy court provides exemptions for bankruptcy cases filed under the jurisdiction of the state. These exemptions cover all the chapters for filling bankruptcy under chapters 7, 11 and 13. Some of the exemptions are listed below.
-Homestead - Real estate or any constructed home is exempted for any value under the section 31-1(A) (1). Any property more than 1 acre in the city, town or village can get an exemption up to the value of ? acre or US$ 5000 under the section 31-1(A) (2) and anywhere else is exempted under section 31-2.
- All kinds of mutual benefits and assessment are exempted under the section 36-2410
- Benefits to the society or a fraternity is exempted under the section 2718.1
- All benefits pertaining to funeral already paid is exempted under section 36-6125
- All types of proceeds from group insurance policy are exempted under the section 36-3632
- All kinds of benefits pertaining to regulated stock insurance are exempted under the section 36-2510
- The amount of money provided as alimony or required for providing financial support to a child is completely exempted under the section 31-1(A) (19)
- Any real estate or property used for the business partnership is completely exempted under the section 54-225
- Pensions provided to all county employees are exempted under the section 19-959
- Pensions provided to all disabled veterans are exempted under the section 31-7
- Pensions pertaining to the ERISA range of benefits is exempted under the section 31-1(A) (20)
- Pensions provided to all types of firefighters are exempted under the section 11-49-126
- Pensions provided to all employees of the law enforcement department are exempted under the section 47-2-303.3
- Pensions provided to any police officers are exempted under the section 11-50-124
- Pensions provided to all public employees are exempted under the section 74-923
- Any benefits pertaining to tax exemption are exempted under the section 60-328
- Pensions provided to all teachers are exempted under the section 70-17-109
The needs of getting details of bankruptcy case records have increased considerably over the last decade. The rise in Internet usage is another reason behind popularity of the searches. And when you are making a search as an investigator, reporter, research fellow or just a layman looking for a particular case, banking on reliable sources is immensely important. They provide you with most recent and updated database of Oklahoma bankruptcy records. With government services like PACER, the sources provide you with the latest proceedings of cases, changes in laws, good bankruptcy attorneys and so on. You will get all you need to know about Oklahoma bankruptcies from these sources.