Comments on: Bankruptcy Exemption Laws In California

By: kelvin

kelvin — Thu, 16 Dec 2010 05:57:11 +0000

Very wisely described. Bankruptcy does not mean that you will have nothing with you or you have to sell all your assets and valuables. If you are living in the state of California, you can give a new start to your life even after bankruptcy. Here you will not be able to use Federal laws only state specific laws can be chosen. Here the laws regarding bankruptcy exemptions are provided under two different chapters, you can choose one between them. You can have the exemptions under different categories like tolls of trade, public benefits, pensions and insurance etc. You can keep your home or any other property for a certain amount under homestead category. Some other exemptions can be taken under miscellaneous category like you can take the exemptions in case of license, alimony, pensions etc. Before filing for bankruptcy under a specific chapter 703 or 704, you should always study all the rules thoroughly because California state authorities will not allow you to interchange the rules, chapter 703 provides some exemptions while 704 provides some other exemptions, it will be better to study both and then make a decision.

By: Ilene Straka

Ilene Straka — Mon, 13 Sep 2010 16:57:16 +0000

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By: Hobert Woerner

Hobert Woerner — Sun, 29 Aug 2010 06:21:41 +0000

You’re damned right. That IS the way to do it. I’ve had people try to convince me otherwise, but know that is 100% right.

By: Payroll Processing Albany

Payroll Processing Albany — Fri, 27 Aug 2010 14:37:27 +0000

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