Legal Question in Bankruptcy in California

Re: Bankruptcy

It depends upon how much money you are talking about. In California, you are allowed to chose exemptions for property (including cash), and there is a "wildcard" exemption which a debtor can use to protect any asset they wish (including cash). That being said, the wildcard exemption is often necessary to protect other assets. You need to sit down with a good bankruptcy attorney and review your assets and the exemption laws to determine if you can keep everything. A mistake here can really cost you in the long run.

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