Legal Question in Bankruptcy in California

I am a homeowner, made less than 20k in 2008, want to file chp 7. owe 58k on home, over 55year old, do i qualifyu for 704 expemption?


Asked on 9/23/09, 11:57 am

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

An attorney will not give you an opinion on a general bulletin board as to whether you qualify. Much more information is necessary. A lawyer will have to take into account the amount of equity you have in the house, if any, other assets, the number of people in your home, other expenses, amount of debt, etc. There also are two different exemption schemes applicable in California: the CCP 703 and 704 series.

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Answered on 9/23/09, 7:50 pm


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