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Cash exemption in California?

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    Cash exemption in California?

    I've looked at the exemptions for California, and it seems there is no exemption for cash unless it is related to social security or public benefits. Is this correct?

    This is the link I was looking at:

    The California bankruptcy exemptions offer protection to your property and assets. Learn how this exemption can help you keep assets when filing for Chapter 7 or Ch
    Last edited by lrprn; 11-26-2007, 10:39 AM.

    #2
    Originally posted by bkbkbk View Post
    I've looked at the exemptions for California, and it seems there is no exemption for cash unless it is related to social security or public benefits. Is this correct?
    Try this site instead - http://www.bankruptcyinformation.com/CA_exemp.htm

    System 1 doesn't mention cash specifically, but does allow bank deposits from Social Security up to $2K (if applicable). I'm not sure whether "75% of wages" covers cash in your accounts from your paychecks or not - that's a question for an experienced CA bk lawyer.

    System 2 allows a $925 wild card that can be used for anything a(including cash in your accounts) plus whatever isn't used of your homestead and burial exemptions.
    I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

    06/01/06 - Filed Ch 13
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