What Assets Are Protected in Bankruptcy in California?

If you’re considering bankruptcy, you may be wondering: What assets are protected in bankruptcy in California?

In California, key bankruptcy exemptions include up to $600,000 in home equity, $3,325 in vehicle equity, protected retirement accounts, personal belongings, and public benefits such as Social Security. Exemptions help filers keep essential property while resolving debt through Chapter 7 or Chapter 13 bankruptcy.

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Bankruptcy Exemptions in the State of California

California’s unique approach to bankruptcy allows residents to choose state-specific exemptions instead of federal ones. The California bankruptcy exemption system offers two sets of exemptions that play a crucial role in protecting your assets during the bankruptcy process.

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