Legal Question in Bankruptcy in California

Retaining Assets (i.e primary residence & vehicle)

When one files BK in California, I heard that one can keep their primary residence, and their primary vehicle. Is this a true statement? Please elaborate.


Asked on 9/24/02, 5:38 pm

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Retaining Assets (i.e primary residence & vehicle)

It depends on what their values are, the encumbrances and liens against them, and the value of all your other assets. If you would like a free phone consultation, please visit my webpage at http://www.bklaw.com/consult.html for what information you will need, and then contact me to schedule a time. I'll be happy to assist.

Regards,Mark

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Answered on 9/24/02, 6:00 pm
Amy Ghosh Law Offices of Amy Ghosh

Re: Retaining Assets (i.e primary residence & vehicle)

Yes....residence with up to $250,000 of equity and vehicles...you can keep other personal properties which falls under differnt exemptions. I guess you are planning to file chapter 13!!!

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Answered on 9/24/02, 6:23 pm


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