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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