I am just researching all this, and am so confused as to the exemptions in CA. We are 100K in debt, all credit cards. Plus $25K in student and parent loans. Hubby lost job, used credit cards waiting for that big commission check that never came, and despite my taking on extra jobs and having 0%, low interest, etc. cards, still can't make payments. Are just in process of *not* paying cc's, scary!
With no assets except three used cars, but both of us having jobs, what do we do as far as which exemption schedule to follow? I can't see an advantage to either except that schedule 1 appears to allow me to keep 75% of current paycheck at time of filing?
Thanks for any help or advice!
With no assets except three used cars, but both of us having jobs, what do we do as far as which exemption schedule to follow? I can't see an advantage to either except that schedule 1 appears to allow me to keep 75% of current paycheck at time of filing?
Thanks for any help or advice!
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