Legal Question in Bankruptcy in California

Re: Chapter 7 Riverside county

You need to consult with bankruptcy attorney in person, with all of the information at hand. It is impossible to render an opinion based upon the general information you provided. How much are the cars worth - are they inexpensive, or are they exotic sportscars? Is your gym equipment high-end, commercial equipment? Its all a matter of determining value, and determining if the assets can be exempted, or if you need to pursue a chapter 13 to protect non-exempt assets. The answer to your question unfortunately requires an in-depth analysis of your situation, and that cannot be done in this forum. Yes, the Trustee is paid based upon what he liquidates, but he cannot liquidate assets that are properly classifed as exempt. If you are in Southern California, feel free to call or email me as we do provide a free initial consultation.

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