Episode Summary:

In this episode, Luke Homen, an Oklahoma bankruptcy attorney, discusses his new book, "Choosing Bankruptcy," aiming to demystify the bankruptcy process and empower individuals to make informed financial decisions. Luke shares insights on the emotional barriers to filing for bankruptcy, dispels common myths, and highlights the importance of seeking timely assistance to prevent financial distress.

Key Timestamps:

00:00 – Introduction

01:30 – Reasons for Writing the Book

03:15 – Addressing Emotional Stigma

05:45 – Common Reasons for Delaying Bankruptcy

07:20 – Debunking Myths Surrounding Bankruptcy

09:10 – Importance of Timely Decision-Making

11:00 – Real Stories of Financial Recovery

13:45 – Making Informed Choices

15:20 – Universal Relevance of Bankruptcy Concepts

17:05 – Famous Personalities Who Chose Bankruptcy

19:30 – Encouraging Readers to Seek Help

About the Show:

All About Bankruptcy is a podcast series hosted by Luke Homen, dedicated to providing valuable insights on navigating the complexities of bankruptcy proceedings. The show offers practical guidance, dispels myths, and emphasizes the importance of seeking professional assistance for financial challenges.

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 bankruptcy 01:00 – Why filing bankruptcy can improve loan eligibility 02:10 – How bankruptcy affects your credit report 03:00 – Rebuilding your credit score with the “7 Steps to 720” program 04:00 – What lenders look for after bankruptcy 05:00 – Importance of on-time payments in rebuilding credit 06:00 – Differences between Chapter 7 and Chapter 13 loan approvals 07:00 – How soon clients qualify for mortgage loans again 08:00 – Real client stories: getting a new car loan days after filing 09:00 – 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.

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 bankruptcy 01:00 – Why filing bankruptcy can improve loan eligibility 02:10 – How bankruptcy affects your credit report 03:00 – Rebuilding your credit score with the “7 Steps to 720” program 04:00 – What lenders look for after bankruptcy 05:00 – Importance of on-time payments in rebuilding credit 06:00 – Differences between Chapter 7 and Chapter 13 loan approvals 07:00 – How soon clients qualify for mortgage loans again 08:00 – Real client stories: getting a new car loan days after filing 09:00 – 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.

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 Episode 00:45 – Common Fears About Losing Property in Bankruptcy 01:20 – Understanding Bankruptcy Exemptions and Why They Matter 02:00 – Types of Property Protected in Oklahoma Bankruptcies 03:10 – How Household Items Are Valued and Protected 04:00 – Oklahoma’s Homestead Exemption and How It Protects Homeowners 05:05 – Differences Between Federal and Oklahoma State Exemptions 06:00 – How Vehicle Exemptions Work and How to Calculate Equity 07:15 – Examples of Clients Keeping Multiple Vehicles 08:15 – Strategies to Maximize What You Keep During Bankruptcy 09:00 – 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.

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 Episode 00:42 – Court Filing Fees for Chapter 7 and Chapter 13 Bankruptcies 01:20 – Required Credit Counseling and Credit Report Costs 02:10 – Why Filing Fees Differ Between Chapter 7 and Chapter 13 03:05 – How Attorney Fees Are Structured in Bankruptcy Cases 04:00 – Payment Plan Options for Clients 05:15 – Bankruptcy Costs Across Different Oklahoma Courts 06:00 – The Risks of Choosing Low-Cost or Inexperienced Attorneys 07:10 – Real-Life Examples of Clients Who Tried to Save Money 08:30 – The Value of Hiring a Full-Service Bankruptcy Firm 09:20 – 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.

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 Episode 00:45 – What the Automatic Stay Is and How It Works 01:40 – Creditors Protected Against by the Automatic Stay 03:05 – Duration of the Automatic Stay in Chapter 7 and Chapter 13 04:25 – When and How Creditors Can Request to End the Automatic Stay 06:00 – How the Automatic Stay Applies to Child Support and Tax Debts 07:05 – What to Do If Creditors Continue Harassment After Filing Bankruptcy 08:45 – Differences in Automatic Stay Protection Between Chapter 7 and Chapter 13 09:20 – 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.

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 Episode 00:45 – What Wage Garnishment Looks Like and How It Works 02:05 – Types of Debt Eligible for Wage Garnishment 03:15 – Legal Process and Steps Creditors Must Follow 05:05 – How Much of a Paycheck Can Be Garnished in Oklahoma 06:40 – Impact of Wage Garnishment on Everyday Budget 07:55 – Options to Stop or Reduce Wage Garnishment Without Bankruptcy 09:10 – How Bankruptcy Stops Wage Garnishment 09:45 – Wage Garnishment for W-2 Employees vs. 1099 Contractors 11:15 – How Business Owners Are Affected by Wage Garnishment 12:30 – Common Mistakes People Make When Facing Garnishment 14:10 – 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.

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 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

00:00 – 02:00 — What is a Chapter 13 plan payment and why it matters 02:00 – 04:30 — How income affects whether you pay 0%, 100%, or somewhere in between 04:30 – 07:00 — How secured debts are handled: cars, mortgages, and arrears 07:00 – 09:30 — Understanding priority debts like taxes and child support 09:30 – 11:00 — Administrative costs and how they’re built into your payment 11:00 – 14:00 — How your final monthly payment is calculated 14:00 – 16:00 — What happens if your income or expenses change 16:00 – 17:30 — How objections from creditors or trustees are handled 17:30 – 19:00 — Luke’s advice for getting a realistic estimate before filing

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.