Legal Question in Bankruptcy in California

California has two different sets of exemptions which can be used in a bankruptcy case, and they have different allowed amounts for various assets. The maximum homestead exemption is $75,000 for a single person; $100,000 for married couple, and $175,000 for elderly or disable persons.

The vehicle exemption is $2,725 or $3,525 depending on which exemption scheme you use. The alternate exemptions scheme (which does NOT have the high homestead exemptions listed above) allows for a "wildcard" exemption in the amount of approximately $21,000 to be used on any assets assuming it has not been used towards a homestead.

This is a complicated area of law and you really need a qualified bankruptcy attorney to evaluate your situation.