Legal Question in Credit and Debt Law in California

Help for Creditors
I hope you can help me with the following.

1. Which of the following are exempt from a writ of execution? a person's home, all of a person's personal property, the assets of a person who has declared bankruptcy, or both a person's home and the assets of a person who has declared bankruptcy?

2. Does a homestead exemption protect a house from being taken by an unsecured creditor, a secured creditor, or both an unsecured and secured creditor?

3. If one signs as a surety in a contract with a friend, is there anything other than full payment that will discharge the surety's obligations, such as
the statute of limitations?

Thanks so much for your kind assistance in this.
Regards

Asked on 1/15/02, 12:06 pm

Ken Koury Kenneth P. Koury, Esq.

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Re: Help for Creditors

1. They are all exempt to some extent. 2. an unsecured creditor. 3. statute of limitations is 4 years

Answered on 1/15/02, 1:46 pm

Sheldon G. Bardach Law Offices of Sheldon G. Bardach

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Re: Help for Creditors

Rather than try to itemize the property exempt from execution of judgment, let me refer you to California Civil Code sections 703, 704 et seq.

Answered on 1/15/02, 7:14 pm

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