Our Los Angeles bankruptcy attorneys may be able to protect your property under California law.
The Los Angeles bankruptcy attorneys who sponsor Total Bankruptcy should have the experience needed to understand all of the legal fine points needed to handle your case. Many clients of our sponsoring Los Angeles bankruptcy attorneys have come for help, counsel and the support they need in what often seems like an overwhelming situation.
Our Los Angeles bankruptcy attorneys should be very familiar with the exemption laws of California. They should know how to use these laws to protect certain types of your property from your creditors when you file for bankruptcy. These experienced California bankruptcy attorneys may be able to help you to keep your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other important property.
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For more information, call our toll free number, 1 (877) 349-1309, or fill out our online case evaluation form. One of our sponsoring bankruptcy attorneys should contact you to set up an appointment at your earliest convenience.
California law provides a number of exemptions that may be able to protect your property.
Here is just a brief summary of some California exemptions. Your lawyer should be able to advise you on which exemptions are best for you.
Homestead: This exemption provides $75,000 for each family member living with one or more non-owner family members. It offers $150,000 for a person who is 65 or older, disabled, or who is 55 or older with an annual gross income of $15,000 or less if single or $20,000 or less if married. This exemption is $50,000 for all other persons.
Wages: Residents of California are guaranteed that 75 percent of all their "paid earnings" are exempt.
Automobiles: You can claim up to $2,300 of the equity in all automobiles as an exemption.
Other Property: This long list of exemptions provides that household furnishings, appliances, provisions, wearing apparel, and other personal effects are 100 percent exempt if they are ordinary and necessary. $6,075 each for jewelry and personal property used in the debtor's trade or business is also exempt.
Is Chapter 7 or Chapter 13 right for you?
If you are suffering under a mountain of debt and expenses that you just can't keep up with, but you do have a job or some other source of regular income that you use to make payments under a repayment plan, a Chapter 13 may be right for you. You may be able to use Chapter 13 to liquidate the majority of your debts, set up a reasonable debt repayment plan, and get a fresh financial start.
Chapter 7 of the U.S. Code may be the right choice for those who have encountered an unfortunate circumstance such as divorce, job loss, inadequate health insurance and the resulting medical bills, or injury and disability. Filing a Chapter 7 is your legal right and a courageous step that may obliterate the crushing stress of enormous debt.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.