Legal Question in Bankruptcy in California

Re: Are my two cars non exempt property?

It depends on what the equity value is in each, what the value of all your other assets are which need exempting, and other factors. If you would like a free phone consultation, please visit my webpage at http://www.bklaw.com/consult.html and then contact me to schedule a time.

Re: Are my two cars non exempt property?

If the one car you're financing is a leased car. There is no equity to exempt. If you're financing the car. And eventually you'll own it. You may exempt some or all of the equity under the wild card exemption in one schedule of exemptions. If the car you own outright is valued below $2,400.00. It is exempt using one schedule of exemptions; and $1,900.00 on the other schedule of exemptions. So you should decide which schedule of exemptions best fits your needs. They are CCP Sections 703.010 to 703.140 and CCP Sections 704.010 to 704.210. Or you might call teh other guy and ask.

Re: Are my two cars non exempt property?

Depends on what your other assets are and how much equity is in the vehicles. Usually I am able to protect vehicles, but more information is needed. Please feel free to call 800-696-4529.

CS