Whereas household income determines Chapter 7 bankruptcy eligibility under Oklahoma law, the following median income thresholds shall apply:
- Single-person households: $57,046 annually
- Two-member households: $71,793 annually
- Three-member households: $82,469 annually
- Four-member households: $94,542 annually
Each additional household member adds $9,900 to the baseline figure.
Here’s what this means in plain English: If you make less than these amounts, you can probably file Chapter 7. Making more doesn’t automatically disqualify you – you’ll need to show your expenses eat up most of your income.
These numbers change periodically based on economic conditions. Talk to a bankruptcy lawyer to confirm your eligibility. They know the details and can assess your specific situation.
The above financial criteria are according to means testing requirements established under Title 11 of the United States Code §707(b)(2).
