Oregon State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Oregon law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
$30,000 exemption for one debtor; $39,600 for combined exemptions
of two or more debtors. Also, $23,000 exemption for manufactured home ($30,000
if more than one debtor).
Wages
75 percent of weekly earnings exempt.
Automobiles
One vehicle in the amount of $2,150.
Other Property
Books, pictures and musical instruments to the value of $600; clothing,
jewelry and other personal items to the value of $1,800; tools,
implements, and books necessary for trade or business to the value of $3,000;
domestic animals to the value of $1,000; household goods, furniture,
radios, a television set and utensils all to the total value of $3,000;
and all professionally prescribed health aids.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete Oregon bankruptcy
exemptions here
» Back to Bankruptcy Laws In Your State