CA Wildcard

[thirdeyevision]

So I'm $40k in debt with a car being the only asset I own. I got the car about two years ago. When I got the car I got a decent interest rate but I thought I could do better. So about 6 months in I decided to transfer the car loan onto some credit cards. It dropped my rate from 8.9% to 4.9%.

Anyways, I figured once I file I'll lose the car and I'm ok with that. Well last week I go in for a consultation and the lawyer tells me that I'll be able to keep the car. I know cars are exempt up to a certain amount but he tells me that there's also a "wildcard exemption" in CA that would exempt up to $20k that I could use towards the car.

Anyone know anything about this?

[StartingOver08]

Here is a link to California exemptions:

http://www.bankruptcyinformation.com/CA_exemp.htm

Also, I believe there is a thread here in this Forum, a sticky, devoted to California BK...check it out

[jktrading]

Here is a link to California exemptions:

http://www.bankruptcyinformation.com/CA_exemp.htm

Also, I believe there is a thread here in this Forum, a sticky, devoted to California BK...check it out

It's actually a little better now:

http://www.bankruptcyca.us/california_bankruptcy_exemptions.html

Total wildcard = $21,825