wild card

[DM1]

what do you guys mean when you mention "wild card?"

[PaKettle]

what do you guys mean when you mention "wild card?"

A "Wild card" exemption is one which allows you to exempt ANYthing of value up to that amount. Some states have lower ones and some have higher ones.

California, for example, has something that may not technically be a "wild card" exemption but in effect is one. They allow us to use our Homestead exemption of around $22k for anything we want if we don't use it for a home.

Some states have very low wild card exemptions and others - I think - have none. You can find exemptions for your state by doing a google on "bankruptcy exemptions". Check several sites because some are not current and others are.

[Cali]

A "Wild card" exemption is one which allows you to exempt ANYthing of value up to that amount. Some states have lower ones and some have higher ones.

California, for example, has something that may not technically be a "wild card" exemption but in effect is one. They allow us to use our Homestead exemption of around $22k for anything we want if we don't use it for a home.

Some states have very low wild card exemptions and others - I think - have none. You can find exemptions for your state by doing a google on "bankruptcy exemptions". Check several sites because some are not current and others are.

That is one reason I am glad I live in CA.

[DM1]

wild card

That is one reason I am glad I live in CA.

me too! thanks guys!