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 and the equity is covered by your exemptions, you may elect to keep making payments on the loan and 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 proceeds. 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.

ASSET

EXEMPTION DESCRIPTION

LAW SECTION

Homestead

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

23.164, 23.240, 23.250

Insurance

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

743.049

748.207

743.047

743.050

743.046

Miscellaneous

Alimony, child support needed for support

Liquor licenses

Property of business partnership

23.160(1) (i)

471.301(1)

68.420

Pensions

ERISA-qualified benefits

Public officers, employees

School district employees

23.170

237.980

239.261

Personal Property

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

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)

 

Public Benefits

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

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

Tools of Trade

Tools, library, team with food to last 60 days, to $3000 (husband and wife may double)

 

23.160(1) ( c)

Wages

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

 

23.186

292.070

Wild Card

$400 of any personal property, however, can’t use to increase existing exemption

Husband and wife may double

23.160(1) (o)

In re Wilson, 22 B.R. 146

(D. Or. 1983)

For more information on filing bankruptcy in Oregon explore Oregon Bankruptcy Law.