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Oregon Bankruptcy Exemptions
The Oregon bankruptcy exemptions chart, see below, details the property you can exempt or protect from creditors when you file bankruptcy in Oregon. You may exempt any property that falls into one of the exemptions categories below, up to the dollar amount listed. You will be able to kept this exempted property after you file bankruptcy. Please note that there are certain debts which you will not be able to erase in bankruptcy. (see Non-dischargeable Debts)
An exemption limit applies to any equity you have in the property. Equity is the difference between the value of the property and what is owed on the property. For example, a car valued at $5000 with a loan of $4500 has an equity value of only $500.
If the property is secured by a loan, such as a car or home, and you are current on the payments, the equity is covered by your exemptions, and you elect to keep making payments on the loan you generally can keep this property through the bankruptcy. If all the equity is not covered by your exemptions the trustee may elect to liquidate this asset and distribute the assets. Generally, in this case, you would be entitled to the value of your exemption in the asset as a cash payment.
Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions, unless otherwise noted.
To keep non-exempt property, a debtor must generally pay the trustee the value of the non-exempt property.
When you file bankruptcy in Oregon you may also use certain federal exemptions in addition to your Oregon exemptions. |
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ASSET
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EXEMPTION DESCRIPTION
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LAW SECTION
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Homestead
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Real property, mobile home or houseboat you occupy to $25,000
($33,000 for joint owners); if you don’t own land mobile home is on,
to $23,000 ($30,000 for joint owners); property cannot exceed 1 block in
town or city or 160 acres elsewhere; sale proceeds exempt 1 year from
sale, if you intend to purchase another home
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23.164, 23.240, 23.250
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Insurance
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Annuity contract benefits to $500 per month
Fraternal benefit society benefits
Group life policy or proceeds not payable to insured
Health or disability proceeds or avails
Life insurance proceeds or cash value if you are not the insured
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743.049
748.207
743.047
743.050
743.046
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Miscellaneous
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Alimony, child support needed for support
Liquor licenses
Property of business partnership
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23.160(1) (i)
471.301(1)
68.420
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Pensions
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ERISA-qualified benefits
Public officers, employees
School district employees
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23.170
237.980
239.261
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Personal Property
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Bank deposits to $7500; cash for sold exempt property
Books, pictures & musical instruments to $600 total (husband and
wife may double)
Burial plot
Clothing, jewelry & other personal items to $1800 total (husband
and wife may double)
Domestic animals, poultry with food to last 60 days to $1000
Food & fuel to last 60 days if debtor is householder
Furniture, household items, utensils, radios & TVs to $3000 total
Health aids
Lost earnings payments for debtor or someone debtor depended on, to
extent needed (husband & wife may double)
Motor vehicle to $1700 (husband and wife may double)
Personal injury recoveries to $10,000, not to include pain &
suffering ( husband and wife may double)
Pistol, rifle or shotgun if owned by person over 16, to $1000
Earned income tax credits
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23.166
23.160(1) (a)
65.870
23.160(1) (b)
23.160(1) (e)
23.160(1) (f)
23.160(1) (f)
23.160(1) (h)
23.160(1) (l)
23.160(1) (d)
23.160(1) (k)
23.200
23.160(1)(n)
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Public Benefits
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Aid to blind
Aid to disabled
Civil defense & disaster relief
Crime victims’ compensations (husband and wife may double)
General assistance
Injured inmates’ benefits
Medical assistance
Old-age assistance
Unemployment compensation
Vocational rehabilitation
Workers’ compensation
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412.115
412.610
401.405
23.160(1) (j) (A), 147.325
411.760
655.530
414.095
413.130
657.855
344.580
656.234
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Tools of Trade
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Tools, library, team with food to last 60 days, to $3000 (husband and
wife may double)
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23.160(1) ( c)
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Wages
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Minimum 75% of earned but unpaid wages; bankruptcy judge may
authorize more for low-income debtors
Wages withheld in state employee’s bond savings accounts
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23.186
292.070
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Wild Card
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$400 of any personal property, however, can’t use to increase
existing exemption
Husband and wife may double
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23.160(1) (o)
In re Wilson, 22 B.R. 146
(D. Or. 1983)
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For more information on filing bankruptcy in Oregon explore Oregon Bankruptcy Law.
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