Met w/ lawyer~ $25,000 exemptions? CA

[LadyInTheRed]

Saying you have $25k in exemptions is an oversimplification. You can see CA exemptions at http://www.bankruptcyaction.com/caexemptions.htm You choose one of 2 systems. If you don't have a home with equity, you would probably use system 2. The exemptions on that website aren't quite up-to-date because of CPI increases. The increased figures as of April 2010 are at http://www.courtinfo.ca.gov/forms/do...exemptions.pdf. Page 1 is system 1 and page 2 is system 2.

[chiwawa]

I am also in California. My lawyer told me I can keep all assets value total 25K.

[diesillady]

So we had a consultations w/ a lawyer, and he said we can keep ANYTHING up to $25,000. Looking around this forum, I see limits for certain items and I am confused. What do we own? My car, about 6k, his car 5k, a truck 2k, and other than that cheap furniture and a few very used and old dirt bikes (worth 1k at the most, if that). He said that was fine, as long as it totals 25k or less.

Any opinions on this? We live in Ca. Thanks

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I don't now the total exemption but it is close to 25k. We had 3 cars and one was 8k another 3K last one was upside down so it didn't matter. We had all the other usual household item and just list them within their cash value. I say unless you got some big ticket jewels it's not going to affect you. The trustee never ask about anything just name rank and SSN.

[dustijane]

So we had a consultations w/ a lawyer, and he said we can keep ANYTHING up to $25,000. Looking around this forum, I see limits for certain items and I am confused. What do we own? My car, about 6k, his car 5k, a truck 2k, and other than that cheap furniture and a few very used and old dirt bikes (worth 1k at the most, if that). He said that was fine, as long as it totals 25k or less.

Any opinions on this? We live in Ca. Thanks