Legal Question in Bankruptcy in California

Under California and federal law, a husband and wife can file chapter 7 bankruptcy and exempt (protect) $100,000 in equity in their home. Knowing that is a starting point: you would need to consult with a bankruptcy attorney to examine all your financial affairs. She or he can help you determine if you are eligible for chapter 7 relief and if it's advisable.

Disclaimer: the above as well as any information found on our Web site is not legal advice and should not be relied upon. It does not create an attorney-client relationship. Unilateral communications may be misconstrued as they do not address all facets, nuances, and particulars, or all means of addressing a situation. This is strictly my opinion provided for general informational purposes and it pertains to California law. We do not review and are not responsible for the content of other attorneys� answers even when they answer the same questions. We recommend you seek legal and other professional counsel before acting or refraining from action in relation to bankruptcy. It's worth the cost.