California Bankruptcy Exemptions Explained

Are you considering filing bankruptcy in California? If so, it is important to understand the California Bankruptcy Exemptions. These exemptions are a set of laws that protect certain assets from creditors during a bankruptcy proceeding and provide debtors with some financial security by allowing them to keep specific items. This article will explain what is protected under the California Bankruptcy Exemptions and how they can benefit potential debtors.

The most common type of exemptions found in California are those for personal property such as clothing, furniture, appliances, books and jewelry up to $600 per item. Homestead exemption protects your home up to $150,000 while vehicle exemption allows you to keep one vehicle worth up to $3,300.