CA has two sets of exemptions. If we wind up filing BK we will be using the one where you have no equity in your home. We are upside down on it. There is a wild card of approx. 20K. My question is, is that amount for each of us or for both of us combined. If it is for both of us doesn't that discriminate against married people? I'm seeing a lawyer next Wednesday but I was just curious if anyone knows. I can't seem to find any hard info on that question out in cyberspace anywhere. Thanks.
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Filed Ch 7 - 6/30/08
341 Meeting - 7/31/08
Discharged - 9/30/08
Closed (finally) - 2/10/09 -
It looks to me that you should be able to double this exemption as you can with the federal exemptions (we did this when we filed), but there must be someone else on this forum that knows California exemption law.
$40k exemption for a joint filing is pretty sweet.Filed Business Chapter 7: 7/11/07
341 Meeting: 8/8/07 Asset Case
US Trustee reviewed case/resolved 9/14/07
Discharged: 10/11/07 Closed: 11/2/08
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