Standard 13: Bankruptcy


  1. Assess the costs and benefits of bankruptcy to individuals, families, and society.
  2. Examine ways to prevent bankruptcy and identify alternatives to bankruptcy (e.g., budget management, debt management, refinancing, and financial counseling).
  3. Explain the importance of re-establishing a positive credit history and steps to improve a credit score after bankruptcy.

Online Curriculum and Lesson Plans

Oklahoma State Department of Education –  Making $en$e: Financial Success for Oklahoma Students

  • Module 13.1: Managing High Levels of Debt | view now
  • Credit and Debt Management: Money Instructor | view now

OCEE Lessons:

  • Bankruptcy | Download now
  • Making Bankruptcy Personal – Activity | Download now
    The lesson centers around a questionnaire called “What Color Am I?,” which examines behaviors and attitudes that could lead to a person declaring bankruptcy and assigns students a color based on low, average, moderate, or high risk.

Federal Reserve Lessons:

  • NEW! Bankruptcy Basics | Download now
    Students learn that bankruptcy is a federal court proceeding designed to help individuals address debt problems and provide fair treatment to creditors.


Online Resources
Extended Activities
  • Your Money | NPR
  • Practical Money Skills for Life: Lesson 7 Understanding Credit | view now