Bankruptcy in oregon what is exempt?

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Bankruptcy is a legal process that allows individuals or businesses to seek relief from overwhelming debt. When filing for bankruptcy in Oregon, it is crucial to understand what assets are exempt, meaning they cannot be seized by creditors to repay debts. Exemptions vary from state to state, and this article will explore the specific exemptions applicable to bankruptcy cases in Oregon.

Homestead Exemption

Primary Residence: Oregon provides a generous homestead exemption that allows individuals to protect their primary residence. As of 2021, the homestead exemption in Oregon is $40,000 for individuals and $50,000 for married couples filing jointly. This means that if the equity in your home is less than the exemption amount, you can keep your home during bankruptcy proceedings.

Personal Property Exemptions

Household Goods and Furnishings: Oregon bankruptcy law provides an exemption for household goods and furnishings up to $3,000. This includes items such as furniture, appliances, electronics, and other necessary household items.

Motor Vehicles: Oregon allows individuals to exempt up to $3,000 in equity for one motor vehicle. Married couples filing jointly can double this exemption to $6,000 if both spouses have an ownership interest in the vehicle.

Tools of the Trade: If you rely on specific tools or equipment for your profession, you can exempt up to $10,000 worth of tools, books, and other items necessary for your trade.

Retirement Accounts: Most retirement accounts, such as 401(k)s, IRAs, and pension plans, are typically exempt in bankruptcy proceedings. These funds are protected to ensure individuals have financial security in their retirement years.

Wildcard Exemption

Wildcard Exemption: Oregon bankruptcy law provides a wildcard exemption that can be used to protect any property of your choice. As of 2021, the wildcard exemption in Oregon is $400 plus any unused portion of the homestead exemption, up to a total of $1,000. This can be used to protect assets that do not fall under any other specific exemption category.


Understanding the exemptions available in bankruptcy cases in Oregon is crucial for individuals seeking debt relief. The homestead exemption allows individuals to protect their primary residence, while personal property exemptions cover household goods, motor vehicles, tools of the trade, and retirement accounts. Additionally, the wildcard exemption provides flexibility to protect assets that may not fit into any other specific category. By utilizing these exemptions, individuals can navigate the bankruptcy process while safeguarding their essential assets.


– Oregon Revised Statutes:
– United States Courts: