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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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