Ohio Bankruptcy Exemptions

The chart below contains a summary of Ohio state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Ohio bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.

Personal exemptions allowed by Ohio Bankruptcy Laws

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

ASSET EXEMPTION LAW
Ohio Homestead Real or personal property used as residence to $20,200 2329.66(A)(1)(b)
Wages Minimum 75% of disposable weekly earnings or 30 times the Federal hourly minimum wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors. 2329.66(A)(13)
Automobile Up to $3,225 2329.66(A)(2)(b)
Other property Group life policy or proceeds 2329.66(A)(6)(c)
Alimony and child support needed for support 2329.66(A)(11)
Animals, crops, books, musical instruments, appliances, household goods, furnishings, firearms, hunting and fishing equipment to $525 per item; jewelry to $1,350 for 1 or more items; $10,775 total 2329.66(A)(4)
Burial plot 2329.66(A)(8)
Implements, books, and tools of trade to $2,025 2329.66(A)(5)
Wildcard $1,075 of any property 2329.66(A)(18)

Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Ohio bankruptcy court statutes.

Back to all State Bankruptcy Exemptions
Go to Complete State of Ohio bankruptcy exemptions laws.

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