Hello,
I reside in California and recently got a tax refund last month totalling $6800. I am a single mother of four children and have an old car worth about $2000. My other assets are household appliances, etc. I am planning to file chapter 7 (in California) and have debts around $14000 including judgements. Can this refund be exempt if I file Chapter 7 (option 2)? I read that California allows homstead exemption of about $19000 and since I do not own a home, this exemption can be applied towards any other assets. Will the trustee take this money if I file now? Any response will be aprreciated.
Thanks
I reside in California and recently got a tax refund last month totalling $6800. I am a single mother of four children and have an old car worth about $2000. My other assets are household appliances, etc. I am planning to file chapter 7 (in California) and have debts around $14000 including judgements. Can this refund be exempt if I file Chapter 7 (option 2)? I read that California allows homstead exemption of about $19000 and since I do not own a home, this exemption can be applied towards any other assets. Will the trustee take this money if I file now? Any response will be aprreciated.
Thanks
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