Many people hesitate to file for bankruptcy out of fear of losing everything they own. However, both the U.S. Bankruptcy Code and California exemption laws provide exemptions of up to a certain dollar amount for home equity, personal property and other assets. Consulting with an experienced bankruptcy attorney can help you properly plan for bankruptcy and protect your most valuable assets. Contact us online or call 949-243-7619 or toll free at 888-755-2559.
San Diego Bankruptcy Planning and Exemption Lawyers
The lawyers of San Diego Debt Relief have more than 20 years of combined legal experience in bankruptcy law. We work one on one with clients throughout the greater San Diego area and guide them step by step through the bankruptcy process.
California Bankruptcy Exemption Factors
California has one of the most generous exemptions plans in the United States. If you are a homeowner with equity in your home, California laws offer certain home exemptions based on factors such as your marital status and your age. They are:
- $75,000 if you are a single homeowner
- $125,000 if you are married
- $150,000 if you are over the age of 65
If the amount of equity you own in your home is less than the exemption, you should be able to keep your home. If your equity exceeds the amount of the exemption, our firm will help you explore other solutions, such as Chapter 13 bankruptcy, if keeping your home is important to you.
Not Owning a Home & Bankruptcy Exemptions
If you do not own a home, or you have no equity in your home, you can still take advantage of alternative bankruptcy exemptions. We provide guidance on exemption options that allow you to exempt certain assets from your bankruptcy proceeding. The law also provides a vehicle exemption of up to $3,500 for one vehicle in your possession, as well as a "wild card" exemption of nearly $22,000 that can be stacked to cover equity of other vehicles or property that do not have a specific exemption.
With proper pre-bankruptcy planning, most people can keep most or all of their assets in bankruptcy. Our experienced bankruptcy attorneys talk you through your options and give you upfront advice so you can make informed decisions about how to proceed to the best possible advantage.
Contact a San Diego Bankruptcy Lawyer Today!
Don't wait until debt collectors are at your door to repossess your property. Protect what matters most to you and achieve the debt relief you need through smart bankruptcy planning. Email us or by calling 949-243-7619 or toll free at 888-755-2559 to schedule a free initial consultation with our attorneys. Our staff speaks both English and Spanish. We can get your case started for little to no money down. Se habla español.
We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.
