Like all states, Oregon has its own set of exemptions that you may use when filing for Chapter 7 or Chapter 13 bankruptcy. Exemptions determine what property (such as a home, car, instrument, retirement account, etc.) you may keep in a Chapter 7 bankruptcy, and how much you must pay to certain creditors in Chapter 13 bankruptcy. Some states allow debtors to choose between the state exemption system and a set of federal bankruptcy exemptions – but Oregon is not one of them. In Oregon, you must use the state exemptions below. In addition to this list, you may also use any applicable amounts in the federal nonbankruptcy exemptions.
Unless noted otherwise, if a couple is married and filing jointly in Oregon, each spouse may claim the full amount of each exemption. This is informally called “doubling.”
To learn more about bankruptcy exemptions, including how they work, which state exemption system you should use, and special rules for the homestead exemption, see Bankruptcy Exemptions – What Can I Keep When I File for Bankruptcy?
Oregon Bankruptcy Exemptions
Unless otherwise noted, all law references are to the Oregon Revised Statutes Annotated.
Homestead
18.395 & 18.402 - Real property you occupy or intend to occupy to $40,000 ($50,000 if joint owners). 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. Prepaid rent and security deposit for renter's dwelling.
408.440 - A soldier or sailor's property during a time of war.
Personal Property
18.345 - Motor vehicle to $3,000; clothing, jewelry, personal items to $1,800 total; household items, furniture, utensils, TVs and radios to $3,000 total; health aids; books, pictures & musical instruments to $600 total; food & fuel to last 60 days if debtor is householder; earned income tax credit; domestic animals & poultry with food to last 60 days to $1,000; lost earnings payments for debtor or someone debtor depended upon needed for support; personal injury recoveries to $10,000.
18.348 - Bank deposits up to $7,500, and cash for sold exempt items.
18.362 - Pistol; rifle or shotgun if owned by person over the age of 16, up to $1,000.
65.870 - Burial plot.
87.075 - Building materials that were to be used for the construction of an improvement.
348.863 - Higher education savings accounts up to $7,500.
Wages
18.385 - The greater of the following: $170 per week or minimum of 75% of disposable wages. Judge may approve more for low income debtor.
292.070 - Wages withheld in a state employee's bond saving account.
In re Robinson, 241 B.R. 447 (9th Cir BAP 1999)
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts (including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans).
11 U.S.C. § 522(b)(3)(C)(n) - IRAS and Roth IRAs to $1,171,150.
18.358 - ERISA-qualified benefits and payments up to $7,500 including IRAs and SEPs.
237.980 - Public officers and employees pension payments up to $7,500.
Public Benefits
18.345 & 147.325 - Crime victims' compensation.
407.125 - Proceeds of veterans' loans and veterans' benefits.
411.706 - Old-age assistance up to $7,500.
344.580 - Vocational rehabilitation up to $7,500.
414.095 - Medical assistance up to $7,500.
401.405 - Civil and disaster relief up to $7,500.
411.760 - General assistance up to $7,500.
655.530 - Injured inmates benefits up to $7,500.
411.706 - Aid to blind and disabled up to $7,500.
656.234 - Workers' compensation up to $7,500.
657.855 - Unemployment compensation up to $7,500.
Tools of Trade
18.345 - Tools, team with food that will last 60 days, or library up to $6,000 total.
Alimony and Child Support
18.345 - Alimony and child support needed to support.
Insurance
743.046 - Life insurance proceeds or cash value if you are not the insured.
743.047 - Group life insurance policy or proceeds.
743.049 - Annuity contract benefits up to $500 per month.
743.050 - Health or disability insurance proceeds.
748.207 - Fraternal benefit society benefits up to $7,500.
Miscellaneous
471.292 – Liquor licenses.
Wildcard
$400 of any personal property that is not already covered under any other exemption.
Other
Add any applicable Federal Nonbankruptcy Exemptions.
Confirming Exemptions
This list includes the majority of bankruptcy exemptions available in Oregon. However, it may not include all exemptions, and states often create exceptions to specific exemptions. In addition, Oregon may have changed the amounts since this list was last updated in January of 2012. Consider cross-checking this list with www.legalconsumer.com, which updates the state exemption amounts regularly, or check with your local bankruptcy court.
