California State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain types of your property from your creditors when you file bankruptcy-such as your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other important property. California law provides a number of exemptions that protect your property, and your California TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
Exemption is $75,000 for family member living with one or more non-owner family members; $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. $50,000 for all other persons.
Wages
75 percent of all "paid earnings" are exempt.
Automobiles
Up to $2,300 of the equity in all automobiles.
Other Property
Household furnishings, appliances, provisions, wearing apparel, and other personal effects are 100 exempt if they are ordinary and necessary. $2,300 of the aggregate equity in one or more automobiles is exempt. $6,075 each for jewelry and personal property used in the debtor's trade or business is exempt.
» Read the complete California bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.