Get Informed About California Exemptions
If you are facing foreclosure, eviction or serious debt, you may be thinking that you potentially can lose everything that is important to you. If you do not tend to the situation, you could lose everything. Every situation is different, and debt recovery is an actual reality. You can try to survive on your own, without assistance, or you can meet with me to help you navigate bankruptcy laws to retain as much as possible.
I can help you figure out the best path to debt recovery. I will help you understand allowable California property exemptions, as well as guide you through the process of filing Chapter 7, Chapter 13 or any other bankruptcy alternatives.
Contact a bankruptcy attorney in Pasadena at 626-376-9874 for straightforward, honest counsel.
What Can I Keep?
California bankruptcy court defines the fate of your property when you file either Chapter 7 or Chapter 13 bankruptcy. The criteria are complex, and I will help you identify what property you can protect from creditors when you file bankruptcy in California.
There are two sets of exemption scenarios in California that I will need to consider. Also, when you file bankruptcy in California you may also use certain federal exemptions in addition to your California exemptions.
The amount you owe, equity, and shared properties are just some of the factors that go into determining your exemptions. With that in mind, exempt property could consist of the following:
- Real estate, such as a residence
- Appliances, furnishings, clothing and food
- Motor vehicles
- Jewelry, heirlooms and art
- Social security, veteran's benefit, disability, illness or unemployment benefit
- Proceeds from a judgment
Bankruptcy law allows married couples filing jointly to each claim a full set of exemptions, unless otherwise noted.
To keep non-exempt property, you will need to pay the trustee the value of the non-exempt property.
There are certain debts, call non-dischargeable debts, which you will not be able to erase in bankruptcy.
Bankruptcy Lawyer in Pasadena Providing Quality Counsel
To learn more about bankruptcy exemptions, or about all possible debt relief solutions, call me at 626-376-9874 . I serve communities in the Pasadena and Los Angeles areas and offer free consultations.
