In California, you can protect your assets when filing for bankruptcy by utilizing the state’s generous exemption systems (System 1 and System 2) to shield specific assets like your home equity, car, and retirement accounts.
Protecting your property in bankruptcy can be daunting. Whether it’s your home, vehicle, or personal savings, understanding how to use bankruptcy asset protection effectively is crucial. This article demystifies California’s asset protection during bankruptcy, guiding you through legal exemptions and strategies to help secure your possessions under Chapter 7 or Chapter 13 filings.
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