Oregon Bankruptcy Exemptions
The chart below contains a summary of Oregon state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Oregon bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Oregon 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 |
|---|---|---|
| Oregon Homestead | Real property occupied or intended to be occupied to $40,000 ($50,000 for joint owners). Property cannot exceed one block in town or city or 160 acres elsewhere | 18.395; 18.402 |
| Wages | 75% of disposable wages (bankruptcy judge may authorize more for low-income debtors). | 18.385 |
| Automobile | Up to $3,000 | 18.345(1)(d),(3) |
| Other property | Health or disability proceeds or avails | 743.050 |
| Alimony and child support needed for support | 18.345(1)(i) | |
| Furniture, household items, utensils, radios, and TVs to $3,000 total | 18.345(1)(f) | |
| Clothing, jewelry, and other personal items to $1,800 total | 18.345(1)(b) | |
| Burial plot | 65.870 | |
| Tools of trade, library, team with food to last 60 days to $3,000 | 18.345(1)(c),(3) | |
| Wildcard | $400 of any personal property not already covered by existing exemption | 18.345(1)(o) |
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 Oregon bankruptcy court statutes.
Back to all State Bankruptcy Exemptions
Go to Complete State of Oregon bankruptcy exemptions laws.
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