News and Announcements
New Federal Bankruptcy Exemptions Effective July 2, 2013 (July 1, 2013)
Governor Kitzhaber has signed SB396 into law and Oregon debtors now have the opportunity to elect federal exemptions or Oregon exemptions when filing bankruptcy. SB396 reversed the 30 year ban on use of federal exemptions in Oregon bankruptcy cases. The bill contained an emergency clause and federal exemptions can be used in all bankruptcy cases filed after July 1, 2013. This is new for those lawyers who have not practiced in Washington or another jurisdiction with federal exemptions available. It is particularly important for all bankruptcy lawyers filing cases in Oregon to evaluate their case carefully to see if federal exemptions would be more favorable for their clients.
To illustrate some of the options now available to Oregon debtors, Todd Trierweiler and Michael O'Brien helped me put together a one page cheat sheet that is being posted on the Debtor/Creditor website. We are the three Certified Consumer Bankruptcy Specialists in Oregon certified by the American Board of Certification. As NACBA Oregon Chair I have also included a more comprehensive list of federal exemptions, many of which are available for use in conjunction with Oregon exemptions.
This lobbying effort was a legislative project of the National Association of Consumer Bankruptcy Attorneys (NACBA).
Oregon consumer bankruptcy attorneys now have a dedicated exemption for Health Savings Accounts when using Oregon exemptions or we can elect federal bankruptcy exemptions for our clients and have access to a wildcard exemption that can be used in conjunction with any other federal exemption with an added amount of up to $12,725 for an individual or $25,450 for a couple when not used for homestead purposes.
Debtor Creditor Website Chair
888 West Park Street
Eugene, OR 97401
Useful Links for Federal Exemption Analysis:
Exemptions Comparison Chart Oregon and Federal
NACBA Provided List of Federal Exemptions
Full Text of SB 396 permitting Federal Exemptions
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Local Bankruptcy Rules/Forms Committee Meeting
July 9, 2015, 3:00 PM - 4:15 PM
Portland Bankruptcy Court, 8th Floor Conference Room, and by video with Eugene Bankruptcy Court, 3rd Floor Conference Room, or by telephone.
Click here for more details
Circle of Love - Consumer Bankruptcy Committee
July 9, 2015, 4:30 PM - 6:00 PM
Portland Bankruptcy Court 8th Floor Conference Room and Eugene Bankruptcy Court 3rd Floor Conference Room (first go to 5th Floor, Renn Chambers) by video connection; telephone attendance is available by conference call.
Click here for more details
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