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.

Ohio HomesteadReal or personal property used as residence to $20,2002329.66(A)(1)(b)
WagesMinimum 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)
AutomobileUp to $3,2252329.66(A)(2)(b)
Other propertyGroup life policy or proceeds2329.66(A)(6)(c)
Alimony and child support needed for support2329.66(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 total2329.66(A)(4)
Burial plot2329.66(A)(8)
Implements, books, and tools of trade to $2,0252329.66(A)(5)
Wildcard$1,075 of any property2329.66(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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