Oregon, OR Bankruptcy Exemptions

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Oregon, OR Bankruptcy Exemptions

BANKRUPTCY FEDERAL EXEMPTIONS ARE NOT AVAILABLE.
All law references are to Oregon, OR Bankruptcy Code.

All property of the debtor at the time of the filing for bankruptcy (and certain other property to be received in the future) becomes the property of the bankruptcy estate once bankruptcy is filed. This means that the bankruptcy trustee will take control of this property for purposes of satisfying the creditors. HOWEVER, there is certain property which is either excluded or exempt which the debtor will be able to keep. Property or asset exemption are determined based upon your specific situation, personal income and the individual laws of your state.

The best way to determine which property you will be entitled to keep requires a detailed analysis of your unique and personal situation. Although the following Federal and State Bankruptcy Asset Exemption is provided for your information, we highly recommend Finding a Good Bankruptcy Attorney to help guide you through the Bankruptcy Process.

Oregon, OR Bankruptcy Exemptions

All law references are to Oregon Bankrutcy Code.

ASSET	EXEMPTION DESCRIPTION	LAW SECTION
HOMESTEAD	Real property you own up to $30,000 ($39,600 if joint owners). Mobile home on land you own or a houseboat up to $23,000. Joint owners may go up to $30,000. Mobile home on land you don't own, $20,000 ($27,000 if joint). Property may not exceed 1 block in a city or town, or 160 acres elsewhere. Sale proceeds exempt 1 year if plan to purchase another home.	18.428 & 18.402 & 18.395
INSURANCE	Annuity contract benefits to $500 per month	743.049
	Fraternal benefit society benefits	748.207
	Group life policy or proceeds	743.047
	Health or disability proceeds or avails	743.050
	Life insurance proceeds or cash value if you are not the insured	743.046
MISCELLANEOUS	Alimony, child support needed for support	18.345
MISCELLANEOUS	Liquor licenses	471.292
PENSIONS	ERISA-qualified benefits and payments up to $7,500 including IRAs and SEPs	18.358
	Public officers and employees pension payments up to $7,500.	237.980
	Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.	11 U.S.C. § 522
PERSONAL PROPERTY	Bank deposits to $7500; cash for sold exempt property	18.348
	Books, pictures & musical instruments to $600 total (husband and wife may double)	18.345
	Burial plot	65.870
	Clothing, jewelry & other personal items to $1800 total	18.345
	Domestic animals, poultry with food to last 60 days to $1000	18.345
	Food & fuel to last 60 days if debtor is householder	18.345
	Furniture, household items, utensils, radios & TVs to $3000 total	18.345
	Health aids	18.345
	Lost earnings payments for debtor or someone debtor depended on, to extent needed	18.345
	Motor vehicle to $2,150	18.345
	Personal injury recoveries to $10,000,	18.345
	Pistol, rifle or shotgun if owned by person over 16, to $1000	18.362
	Earned income tax credits	18.345
	Cash for sold exempt property;	18.345
	$400 of any personal property that is not already covered under any other exemption.	18.345
	Building materials that were to be used for the construction of an improvement	87.075
	Higher education savings accounts up to $7,500	348.863
PUBLIC BENEFITS	Aid to blind and disabled up to $7,500.	411.706
	Civil and disaster relief up to $7,500.	401.405
	Crime victims’ compensations	18.345 & 147.325
	General assistance up to $7,500.	411.760
	Injured inmates benefits up to $7,500.	655.530
	Medical assistance up to $7,500.	414.095
	Old-age assistance up to $7,500.	411.706
	Unemployment compensation up to $7,500.	657.855
	Vocational rehabilitation up to $7,500.	344.580
	Workers' compensation up to $7,500.	656.234
	Proceeds of veterans' loans and veterans' benefits.	407.125
TOOLS OF TRADE	Tools, library, team with food to last 60 days, to $3000	18.345
WAGES	The greater of the following: $170 per week or minimum of 75% of disposable wages. Judge may approve more for low income debtor.	18.385
WAGES	Wages withheld in state employee’s bond savings accounts	292.070

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