On July 1, 2013, Oregon joined at least 20 other states in permitting bankruptcy debtors to use federal bankruptcy exemptions listed in 11 USC §522(d). However, there are some limitations.  If Federal bankruptcy exemptions are selected in a bankruptcy proceeding, Oregon debtors are prohibited from using Oregon exemptions by ORS 18.300(2)(a).  If Oregon expemptions are selected, then the Federal bankruptcy exemptions may not be used.

What Property is “Exempt”?

When a bankruptcy is filed, some items can be preserved from the trustee and retained by the debtor.  Both Oregon state exemption law and federal law may come into play in determining the amount of each exemption.  If you have not lived in Oregon for at least 730 days then the law of one of the states in which you previously lived may apply.  If this leaves you without exemptions, then a list of federal exemptions may be available to you.  The list below assumes that you have lived in Oregon for at least 730 days prior to the date we file the bankruptcy for you.

Books, pictures, musical instruments, art objects, collectionsORS 18.345(1)(a)$600.00 each
Wearing apparel, jewelryORS 18.345(1)(b)$1,800.00 each
Tools of the tradeORS 18.345(1)(c)$5,000.00 each
VehicleORS 18.345(1)(d)$3,000.00 each  or $6,000.00 joint
Domestic animalsORS 18.345(1)(e)$1,000.00
Household goods, furnishings and Provisions (Food & Fuel for 60 days)ORS 18.345(1)(f)$3,000.00
Spousal support, child supportORS 18.345(1)(i)100%
Bodily Injury ClaimsORS 18.345(1)(k)$10,000.00 each
Earned Income CreditORS 18.345(1)(n)100%
Health Savings AccountsORS 18.345(1)(o)100%
Any personal property (the “pourover” exemption)ORS 18.345(1)(p)$400.00 each
Homestead – Personal residence including manufactured home: Single Debtor
Joint (Married Debtors)
ORS 18.395$40,000.00
WagesORS 18.38575%
One rifle or shotgun, one pistol combined valueORS 18.362$1,000.00
Pension plansORS 18.358100%
Social Security BenefitsORS 18.348
42 USC §407
Student Loan Proceeds20 USC §1095(a)(d)100%
Public Assistance BenefitsORS 411.760100%
Certain Annuity Policy BenefitsORS 743.049Partial
Burial Lots sold by a non-profit corporationORS 97.675100%
Fraternal Benefit/Society BenefitsORS 748.207100%
Annuity BenefitsORS 743.049$500.00 per month
Health & Disability BenefitsORS 743.050100%
Life Insurance ProceedsORS 743.046100%
Life Insurance Proceeds – GroupORS 743.047100%
Unemployment Compensation BenefitsORS 657.855100%
Veteran’s Benefits & LoansORS 18.345(1)(m)100%
Veteran’s State Loan FundsORS 407.595100%
Vocational Rehabilitation PaymentsORS 344.580100%
Worker’s Compensation BenefitsORS 656.234100%
Wages on deposit in Bank (75%)ORS 18.385$7,500.00
College Savings AccountsORS 348.863(2)100%