All About Bankruptcy

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.

Episode Summary 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 You’ll Learn in This Episode 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   Key Timestamps 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   Show Description 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.

Episode Summary: In this episode of All About Bankruptcy, Oklahoma bankruptcy attorney Luke Homen, founder of Convenient Bankruptcy, talks about the surprising number of ways people can qualify for Chapter 7 bankruptcy. Luke outlines six different paths to eligibility, even for those who think they make too much money or own too many assets. From the median income test and the means test to rare exemptions, business debt loopholes, and life-changing financial stories, Luke explains how clients can still find debt relief through Chapter 7. This practical conversation offers clarity for anyone who has been told “no” but still needs a fresh start. Key Timestamps: 00:01 – Show introduction 01:04 – Median income test based on family size 03:18 – How the means test works and why net income matters more than gross 08:40 – Rare exemptions for service members and war crime victims 11:29 – Converting a Chapter 13 case into a Chapter 7 14:56 – Filing a Chapter 7 under presumption of abuse and telling your story 20:45 – How to rebut the presumption of abuse with unique circumstances 25:32 – Why many people wrongly assume they don’t qualify 28:47 – Business and tax debt as a path to bypass the means test 33:10 – Luke’s advice for anyone who feels stuck or has been told “no” About the Show: All About Bankruptcy with Luke Homen helps individuals and families in Oklahoma understand their options for debt relief. With years of experience guiding clients through Chapter 7 and Chapter 13 cases, Luke breaks down the bankruptcy process in plain language and shows how everyday people can get a financial fresh start with confidence.

Episode Summary: In this episode of Bankruptcy Unlocked, Oklahoma bankruptcy attorney Luke Homen explains one of the most important protections in bankruptcy law: the automatic stay. Luke breaks down exactly what bankruptcy stops—lawsuits, wage garnishments, foreclosure—and what it doesn’t, such as ongoing evictions or child support obligations. He also explains how Chapter 7 and Chapter 13 differ in protecting assets, what happens to co-signers, and why even state governments and tribal lenders must comply with bankruptcy law. Packed with real-world examples, Luke shows how bankruptcy can provide immediate relief, protect wages and homes, and even stop aggressive creditors in their tracks. Key Timestamps: 00:01 – Welcome and introduction 02:10 – What actions must immediately stop when bankruptcy is filed 05:00 – How the automatic stay works in real life 08:20 – Stopping wage garnishments through bankruptcy 12:15 – Does bankruptcy stop eviction or foreclosure? 1:40 – How Chapter 13 can save a home from foreclosure 20:05 – What debts bankruptcy does not eliminate (child support, criminal fines) 24:30 – How creditors request relief from the automatic stay 28:15 – What to do if creditors keep harassing after a bankruptcy filing 32:00 – Does bankruptcy protect co-signers? The Chapter 7 vs. Chapter 13 difference 36:15 – Myths about bankruptcy and creditor actions (licenses, tribal loans, state taxes) 41:50 – Why the automatic stay is more powerful than state or tribal law 45:00 – Final advice for overwhelmed debtors and how to get help About the Show: Bankruptcy Unlocked with Luke Homen helps individuals understand their rights and options when facing overwhelming debt. Hosted by Oklahoma bankruptcy attorney Luke Homen, each episode provides practical guidance on Chapter 7, Chapter 13, and how the bankruptcy code protects families from creditor harassment, foreclosure, and financial chaos.

Episode Summary: In this insightful episode of All About Bankruptcy, Oklahoma bankruptcy attorney Luke Homen explains the key players in a bankruptcy case and why having the right legal guide matters. Luke unpacks the differences between debtors, trustees, creditors, and judges, while clarifying how secured and unsecured creditors play distinct roles. He also shares why timing is critical in bankruptcy filings, the risks of going it alone, and how his firm, Convenient Bankruptcy, helps Oklahomans protect assets, reduce stress, and navigate the process with confidence. Key Timestamps: 00:01 – Show introduction and welcome 01:20 – Comparing bankruptcy cases with criminal and civil cases 02:30 – The debtor at the center of every bankruptcy case 03:15 – Chapter 7 trustee vs. Chapter 13 trustee explained 05:45 – Role of the U.S. Trustee as a watchdog in the bankruptcy system 07:10 – Do most bankruptcy cases involve court appearances? 08:40 – Understanding secured creditors, unsecured creditors, and priority creditors 11:20 – What happens at the Section 341 meeting of creditors 14:10 – Common creditor questions during bankruptcy cases 15:30 – Risks of filing bankruptcy without legal representation 17:05 – Why timing is critical when filing bankruptcy 18:15 – Advice for individuals feeling overwhelmed by the bankruptcy process 19:45 – Closing thoughts and call to action About the Show:  All About Bankruptcy  with Luke Homen is dedicated to helping Oklahomans understand their legal options when facing financial hardship. Hosted by attorney Luke Homen, founder of Convenient Bankruptcy, the show provides practical guidance on eliminating debt, protecting assets, and moving forward with clarity and peace of mind.

Episode Summary Attorney Luke Homen explores the post-bankruptcy process, detailing the immediate protections of the automatic stay, the 341 meeting of creditors, and strategies for credit repair and financial recovery. The episode provides practical guidance on halting creditor actions, addressing financial challenges, and rebuilding credit to achieve a brighter financial future. Key Timestamps 00:00 - Show Introduction and Welcome 01:30 - Understanding the Automatic Stay Protections 04:00 - Bankruptcy Noticing and Creditor Communication 07:00 - Preparing for Bankruptcy Filing 10:00 - The 341 Meeting of Creditors Process 13:00 - Rebuilding Credit After Bankruptcy 16:00 - Financial Recovery Post-Bankruptcy 19:00 - Conclusion and Call to Action About the Show All About Bankruptcy is a podcast dedicated to empowering individuals with the knowledge to navigate bankruptcy with confidence and dignity. Featuring attorney Luke Homen, the show provides expert insights into the legal and financial aspects of bankruptcy, helping listeners achieve a fresh start and rebuild their financial future.

Episode Summary: In Part 2 of this two-part series, Oklahoma attorney Luke Homen breaks down the real story behind student loan discharge through bankruptcy. While the law itself hasn’t changed, the enforcement policies have shifted—making relief possible for more people than ever. Luke walks through the new attestation process, how the Department of Education evaluates cases, and why it’s now easier to settle without going to trial. If you or someone you know is burdened by federal student loans, this is essential listening. Key Timestamps: 00:00 – Show Intro and Topic Overview 00:00 – What Changed in Student Loan Dischargeability 00:01 – The Role of Government Enforcement 00:02 – How Policy Shift Created a Path to Relief 00:03 – New Process Using Attestation Forms 00:04 – Predictability and Settlement vs. Trial 00:05 – Who Qualifies for Student Loan Discharge 00:06 – Private Loans and Ineligible Loans Explained 00:07 – Bankruptcy Filing Process and SLAPP Lawsuits 00:08 – How Long the Legal Process Takes 00:09 – Student Loan Relief While Waiting 00:10 – Why Bankruptcy Relief Is Case-by-Case 00:11 – Final Thoughts and Call to Action About the Show: All About Bankruptcy features straight talk from Oklahoma bankruptcy attorney Luke Homen, founder of ConvenientBankruptcy.com, where clients are empowered to erase debt and rebuild their lives without shame or confusion. The show delivers practical advice for people who want a genuine financial fresh start. Learn More: Visit convenientbankruptcy.com to get free resources or schedule a no-obligation consultation.

Episode Summary: In this powerful episode of All About Bankruptcy, Oklahoma attorney Luke Homen explores whether student loans and taxes can be wiped out through bankruptcy. He focuses on tax dischargeability first, breaking down the types of tax debt that can be eliminated and how critical it is to file returns on time. From trust fund taxes and tax liens to Oklahoma’s more flexible treatment compared to the IRS, Luke delivers real, actionable advice to help people understand if they qualify for tax relief through bankruptcy. Key Timestamps: 00:00 – Show Intro and Topic Overview 00:00 – Are Student Loans and Taxes Dischargeable? 00:01 – Understanding Dischargeability of Tax Debt 00:02 – What Are Trust Fund Taxes? 00:03 – When Can Personal Income Taxes Be Discharged? 00:04 – Why Filing Tax Returns Is Critical 00:06 – Late Filing and the 10th Circuit Rule 00:07 – How the IRS vs. Oklahoma Tax Commission Treat Late Filings 00:08 – Waiting Periods and Court Challenges 00:09 – Most Common Bankruptcy and Tax Scenarios 00:10 – Difference Between Tax Debt and Tax Liens 00:11 – Impact of Tax Liens on Personal Property 00:12 – IRS Thresholds vs. Oklahoma Enforcement 00:13 – Realistic Expectations and Case Examples 00:14 – Why Tax Discharge Can Still Work for Most People 00:15 – Closing Call to Action About the Show: All About Bankruptcy features debt relief insights from attorney Luke Homen, founder of ConvenientBankruptcy.com, where he helps individuals break free from financial burdens with compassion and clarity. This series brings practical legal advice to those seeking a financial reset. Learn More: Explore free resources or schedule a free consultation at convenientbankruptcy.com.

Episode Summary: In this informative episode, bankruptcy attorney Luke Homen breaks down the key differences between Chapter 7 and Chapter 13 bankruptcy, helping listeners understand which option might be best for their situation. He explains how income levels affect eligibility, discusses asset protection, and reveals unexpected benefits of each bankruptcy type.   Key Timestamps: 00:00 - Introduction 00:34 - Luke's personal experience with bankruptcy law 01:13 - Main differences between Chapter 7 and Chapter 13 02:00 - Discussion of case frequency and income limitations 03:49 - Income and asset requirements for different chapters 04:51 - Types of debt typically eliminated in Chapter 7 05:37 - When Chapter 13 is the better choice 09:50 - Discussion on credit system and bankruptcy's role 13:30 - Special benefits of Chapter 13 (car loans, interest rates) 15:15 - Professional license protection through Chapter 13 16:27 - Best first steps for those considering bankruptcy   About the Show: “Bankruptcy Unlocked” with Luke Homen provides clear, practical guidance for those navigating financial difficulties. Each episode breaks down complex bankruptcy concepts into understandable terms, helping listeners make informed decisions about their financial future.

EPISODE SUMMARY: In this debut episode, Oklahoma bankruptcy attorney Luke Homen demystifies common misconceptions about bankruptcy and explains how it can be a powerful tool for financial recovery. Luke shares insights on debt forgiveness, credit repair, and the various types of debt that can be handled through bankruptcy, while offering hope to those struggling with financial difficulties.   KEY TIMESTAMPS: 00:00 - Show Introduction 00:52 - Addressing bankruptcy fears and intimidation 01:58 - Simple explanation of what bankruptcy is 02:37 - Origins of bankruptcy stigma 04:49 - Luke's journey into bankruptcy law 05:34 - How bankruptcy helps rebuild credit 06:43 - Credit score factors and repair services 08:07 - Biblical perspective on debt forgiveness 08:51 - Types of debt handled in bankruptcy 11:37 - Financial education and resources 12:45 - Taking the first step towards bankruptcy 15:11 - Power of bankruptcy protection   ABOUT THE SHOW: "All ABout Bankruptcy", hosted by Evan Mack with Oklahoma bankruptcy attorney Luke Homen. Each week, they break down how Chapter 7 and Chapter 13 bankruptcy work in plain language, helping listeners understand their options for debt relief and financial recovery.