Oklahoma Laws on Wage Garnishment, Statute of Limitations on Debt, and Bankruptcy Property Exemptions

WAGE GARNISHMENT EXEMPTION:  Federal law applies

MAXIMUM INTEREST RATE:  Legal: 6%  Judgment: 4% over U.S. Treasury Bill Rate

STATUTE OF LIMITATIONS ON ENFORCEMENT:

Open Account (credit card):  3 years 
Written Contract:  5 years
Domestic Judgment: 5 years (renewable) 
Foreign Judgment:  3 years


BAD CHECK LAW DAMAGES:  None

OKLAHOMA BANKRUPTCY PROPERTY EXEMPTIONS (Oklahoma Statutes Annotated):

Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions

The State of Oklahoma exempted property and income listed below from seizure by the bankruptcy court to pay creditors:

Real Property:  Real property or mobile home, unlimited value up to 1/4 acre, otherwise up to $5,000 for up to one acre in city or town and up to 160 acres elsewhere [31-1(A)(1) and (2) and 31-2]
Personal Property:  Books, one firearm, pictures and portraits, unlimited amount [31-1(A)(7) and (14)]; clothing up to $4,000 [31-1(A)(8)]; motor vehicle up to $3,000 [31-1(A)(13)]; enough food to last one year [31-1(A)(17)]; furniture, unlimited amount [31-1-(A)(3)]; health aids, unlimited amount [31-1-(A)(9)]; farm implements, tools, books and business equipment up to $5,000 total [31-1(A)(5) and (6) and 31-1(C)]; two bridles and two saddles [31-1(A)(12)]; burial plots, unlimited amount [31-1(A)(4)]; 100 chickens, five diary cows and calves under six months, ten hogs, two horses, 20 sheep and feed to last one year [31-1(A)(10), (11), (15), (16), (17)]; personal injury and wrongful death recoveries (not punitive damages) up to $50,000 total [31-1(A)(21)] 
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Insurance / Annuities:  Prepaid funeral benefits in trust, unlimited amount [36-6125]; group life insurance policy or proceeds, unlimited amount [36-3632]; limited stock insurance benefits, unlimited amount [36-2510]; mutual benefits, unlimited amount [36-2410], fraternal society benefits, unlimited amount [36-2718.1]
Pensions / Retirement Plans:  Retirement benefits, unlimited amount [31-1(A)(20)]; county employees, unlimited amount [19-959]; public employees, unlimited amount [74-923]; firefighters, unlimited amount [11-49-126]; disabled veterans, unlimited amount [31-7]; law enforcement policies, unlimited amount [47-2-303.3]; police officers, unlimited amount [11-50-124]; tax exempt benefits, unlimited amount [60-328]
Public Benefits / Entitlements:  Unemployment compensation, unlimited amount [40-2-303]; workers' compensation, unlimited amount [85-48]; aid to aged, blind, disabled and families with dependent children, unlimited amount [56-173]; crime victim's compensation, unlimited amount [21-142-13]; social security, unlimited amount [56-173]
Wages:  75% of wages earned 90 days before filing for bankruptcy [12-1171.1 and 31-1(A)(18)]
Miscellaneous:  Alimony and child support, unlimited amount [31-1(A)(19)]