Legal Question in Bankruptcy in California

What is ''exempt', and ''non-exempt'' property?

What exactly defines ''exempt'' or ''non-exempt property'' in a Chapter 7 Bankruptcy? Do i have to worry about them taking away my kids video game system, or the chair my wife bought for me for our Anniversary? Also, are there any options to giving the materialistic items up?


Asked on 9/12/01, 2:07 am

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: What is ''exempt', and ''non-exempt'' property?

exemptions are defined by the state legislature. You should would not lose ordinary household goods. If you would like a free consultation please visit my webpage at http://www.bklaw.com/consult.html and then contact me to schedule a time. I will be happy to go over everything with you then.

Best Regards, Mark

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Answered on 10/26/01, 1:26 am


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