CA Exemptions-

[Leftfield]

Below are the exemptions listed under 703 California bankruptcy. Some websites refer to it as "system 2". Paragraph (5) is my focus. It states the wild card amount allowed. I truly appreciate all of you who takes the time and effort to read it. The paragraph is clear and simple. it states the amount of $925 plus any unused amount from paragraph (1) to be applied to the exemption. I do not intend to use the exemption in paragraph (1). That clearly leaves me with $17,425 plus $925 towards any property I choose to exempt. In this case; my car.

For peace of mind and reassurance I need a second opinion. I highly appreciate your input. If you think there is ambiguity, or if you see it just like I do, simple and clear, plesae let me know. BTH I'm filling Pro Se and I will do my best to help and contribute to this forum as much as I can.



1) The debtor's aggregate interest, not to exceed seventeen
thousand four hundred twenty-five dollars ($17,425) in value, in real
property or personal property that the debtor or a dependent of the
debtor uses as a residence, in a cooperative that owns property that
the debtor or a dependent of the debtor uses as a residence, or in a
burial plot for the debtor or a dependent of the debtor.
(2) The debtor's interest, not to exceed two thousand seven
hundred seventy-five dollars ($2,775) in value, in one motor vehicle.

(3) The debtor's interest, not to exceed four hundred fifty
dollars ($450) in value in any particular item, in household
furnishings, household goods, wearing apparel, appliances, books,
animals, crops, or musical instruments, that are held primarily for
the personal, family, or household use of the debtor or a dependent
of the debtor.
(4) The debtor's aggregate interest, not to exceed one thousand
one hundred fifty dollars ($1,150) in value, in jewelry held
primarily for the personal, family, or household use of the debtor or
a dependent of the debtor.
(5) The debtor's aggregate interest, not to exceed in value nine
hundred twenty-five dollars ($925) plus any unused amount of the
exemption provided under paragraph (1), in any property.

[bkfiler]

well, in general, yes you get that much in exemptions for your state if you dont own a home and use the wildcard exemption statute.

when you go list all the exempted items you place them in specific categories. some of which might be outside of that amount i think but still allowed.

you can actually use pacer and look up chap 7 cases and most of them will be that way. keep looking until you see how they did it.

i wouldnt file pro-se however. its not worth it if you make a mistake, you get a lot of support/questions answered from the attorney plus if he f's up you can sue him

[Leftfield]

I actually wanted to know if I can access PACER without a case # etc... and was gonna ask and then got lazy ... Now, I will def. file pro Se. All I wanted is to get a look at how the paper work are filled by attorneys.

And here's my favorite emoticon

[bkfiler]

ok. good luck!

also, if you call the courthouse and ask to be transferred to the area where you have PACER access then ask them if its free to browse cases.

you could spend the entire day there looking up cases that apply to yours without paying and then just write down the case numbers and go home and download them and print them out. its cheaper that way.

you could print at the court but its costs money. remember all courts are different so call ahead to make sure.

[Leftfield]

Wow, thanks for the info

[bkfiler]

also, if you are new to pacer, then look under the main menu for 'reports' then slect the things that you are looking for. mostly 'chapt 7' i guess you will be and enter a filing date of past oct 1t cuz you want new case filings.

again, we can help but im telling ya, i wouldnt do it on my own and certainly not now! thats tells you something about how much we can(t) really help

[StaciMM]

I think you're reading it right. It would be good to get another consult w/ an attorney-even if its just to grill him/her about the exemptions. Make sure that the wild card can be applied to something that already has an exemption and that there is no restriction on a large amount of it being applied to one item.

[bkfiler]

whooops! can you guys believe i didnt read it close enough?

my bad. sorry. i didnt even see that you were worried about your car.

i see how you could be confused. i can read it both ways. thats the damn problem and why i wouldnt do it myself.

it does look like it could restrict the car down to $2775 only. but then again it does look like any item is up for saving if you have exemptions left over.

to be honest, i still think im right. i think they are just trying to give deductions for certain items at such and such values, and hten also give a wildcard exemption. i still believe it can apply to anything else legal.

if not then sell you car and keep it in cash or buy a whole life insurance policy which they cant take. then cash it in later if it isnt working for you at a later date

[Leftfield]

"Make sure that the wild card can be applied to something that already has an exemption"

THAT did not cross my mind !!! thanks

[Leftfield]

So I met with a lawyer and my reading was correct. As a matter of fact there was nothing that he told me that I wasn't aware of. In few days I made myself as competent as a ***** lawyer. I left him thinking why the hell does he need a lawyer for. We even argued about few things but he did mention something that was importent. So I decided to share it with you guys

If you have a credit card issued by your bank (the one you have a checking or savings account with them). Switch banks ASAP!

The banks can and will hold or seize (use any technical term you want) your account and your money becomes theirs. Is that illegal I asked. He hesitated a little bit then proceded by adding that he witnessed it before.

Tomorrow (spell check!) I'm switching banks.

He gave some articles about building credit and some facts. I'll be posting them in a bit ... if I don't get lazy ..that is let me just go grab me something to eat first.

[bkfiler]

just wanting to help if i can... but i wouldnt be so sure you are experienced as an attorney after reading one part of the statues. your comments seems a little to proud for your own good and i just want to make sure you do whats best for you. trust me, i would rather we all do it ourselves but it isnt that simple all the time and i want you protected. you cant know all the things that can happen to you ahead of time. be careful in your thought. we want whats best for you.

and whats worst for the trustee and creditors

[StaciMM]

That SHOULD only be an issue w/ Credit Unions-they are known to 'cross collateralize' meaning link all accounts. In essence, one secures another. If there is a cross collateralization agreement in place, BK can't stop it.

On the other hand, it is not a bad idea to be extra careful!

Glad you got confirmation on how the exemptions work. There is only so much info on the web about state specifics, so its better to check & recheck. Sounds like you're in good shape!

[bkfiler]

we already had threads on this subject, but wanted to add that Wells Fargo is known for now starting to sieze you rmoney even if you dont have a debt owed to them. attorneys ive talked to mentioned they dont think its legal and 1 said he is sueing them for his client. also mentioned class action suits from other attorneys if they keep it up.

makes sense to me. its not their money and you dont own them.

[Leftfield]

just wanting to help if i can... but i wouldnt be so sure you are experienced as an attorney after reading one part of the statues. your comments seems a little to proud for your own good and i just want to make sure you do whats best for you. trust me, i would rather we all do it ourselves but it isnt that simple all the time and i want you protected. you cant know all the things that can happen to you ahead of time. be careful in your thought. we want whats best for you.

and whats worst for the trustee and creditors

I understand and appreciate your concern. I, too, think about buying my peace of mind and the actual trouble of going through all the paper work. But if you ask me, I will tell you honestly that there is nothing to it. I read more than one section by the way. I actually went through the entire california code of civil procedure.

I might let him do it if I get too busy or something. He even told me that I can pay him installments " 2..3 ... doesn't matter " he said !!!!!!

[StaciMM]

Leftfield-I think BKfiler has the right idea. Don't get too relaxed or over confident. That way, you'll be less likely to overlook something.

My approach when I filed pro se-question everything. Personally, I think people should approach it the same way even if they file with an attorney. (Be involved every step of the way, know exactly what is going on-and why.0