Resources on bankruptcy law in California.
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Tips & Advice to help you make your decision on California Bankruptcy Law
Learning about California bankruptcy law can help you decide whether filing for bankruptcy is a good solution to your debt problems. While California follows federal bankruptcy guidelines, its exemptions are different from federal regulations. In some instances, you may be able to use federal exemptions in addition to California's state exemptions when declaring bankruptcy.
California allows you to use one of two systems of exemptions. The first system allows you to take a homestead exemption of $50,000 if you are single, $75,000 as a family, or $125,000 if you are over 65. Under this system, personal property such as clothing, food, and furnishings are exempt. Up to $5,000 worth ... more
