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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2830
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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If a debtor in Oklahoma is filing a chapter 7 BK and the motor

Customer Question

If a debtor in Oklahoma is filing a chapter 7 BK and the motor vehicle exemption is $7500.00
Motor vehicle to $7,500 (31 Okla. Stat. Ann. § 1 (A)(13) Can that exemption be applied to more then one vehicle? For example if they have one vehicle with $5,000 of equity and another with $2,000 of equity would both be exempt?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 4 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Unfortunately no, you can't split that exemption onto multiple vehicles. The statute reads: "Such person's interest, not to exceed Seven Thousand Five Hundred Dollars ($7,500.00) in value, in one motor vehicle;"

Terry L. :

Do you have any other questions?

Customer:

Thank you, XXXXX XXXXX different in each state or is the exemption always applied to just one vehicle?

Terry L. :

yes, it can vary by state. this is the exact language of the ok statute though

Customer:

Thank you

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