California Bankruptcy Exemptions Attorney

Types of Bankruptcy Exemptions

One of the most common bankruptcy myths is that people think they will lose all of their property and possessions if they file for bankruptcy. This is not true. There are specific exemptions allowed so that you are able to retain many of your possessions. The exemptions are different from state to state. California has opted-out of using the federal exemptions and has outlined their own. A California bankruptcy lawyer will be able to discuss this list in detail with you and be able to help you decide if filing for bankruptcy is the right choice.

Some of the items that are exempt from being included in your bankruptcy proceedings are:

Real or personal property occupied at the time of filing for bankruptcy up to $50,000 if single or $75,000 for family
Motor vehicle or insurance up to $2,700
Food, clothing, appliances and furnishings
Jewelry, heirlooms and art up to $6,750
Health aids
Disability or health benefits
Public/Private retirement benefits
Unemployment benefits

This list is in no way complete. It is given here to illustrate the fact that should you chose the option of filing for bankruptcy, you will not be left without any possessions. There are many more exemptions in California that could be included in your schedule of exemptions. At Price Law Group, our lawyers can answer questions that you may have concerning what exemptions you are eligible for.

Ensuring Filing for Bankruptcy is Right for You

Being in the position of having to decide if filing for bankruptcy is the right choice for you can be very difficult. This decision should not be made lightly and we highly recommend that you consult with one of our experienced and knowledgeable attorneys before doing so. Not only will we discuss the procedure and consequences of filing for bankruptcy with you, but we will also go over alternatives to bankruptcy that may be available to you.

Our lawyers have successfully represented thousands of clients and have helped them achieve a positive outcome for their specific financial troubles. You should not have to face bankruptcy on your own. It is vital for your financial stability to act now.

Contact a California Bankruptcy Exemptions Attorney to help you determine what exemptions you are eligible for, should bankruptcy be the right option for you.