Legal Question in Bankruptcy in California

Motor-vehicle chapter-7 liquidation is rare in our neck of the woods, insofar as most debtors have low-value and/or highly-encumbered motor vehicles. There's no unlimited motor-vehicle exemption on the basis of a single subject vehicle being one's only means of transportation. It's total equity--not number of vehicles--that counts. Otherwise, James Bond could file chapter 7 and keep his Aston Martin DB5. That's not going to happen. But California generally has available a $3525 motor vehicle exemption + a $23,250 wildcard exemption (current figures, subject to change), which can be "stacked," so you could protect a relatively valuable car, but it depends on your total other property.

This answer (as well as our Web site) doesn�t address all facts & implications of the question; it�s general info, not legal advice to be relied upon; it creates no attorney-client relationship; it may be pertinent to CA only; it�s independent of other answers. Hire legal counsel before acting or refraining from bankruptcy/legal action.