I keep finding myself searching for an old post of mine regarding California's exemption system. I decided to post it in my blog so I can find it easily. I hope it helps other California filers too.
When filing bankruptcy in California you can choose from 2 systems of exemptions. Systems 1 and 2 as of January 1, 2010 are summarized at:
http://www.legalconsumer.com/bankrup...-law.php?ST=CA
However, many of the exemptions are adjusted every three years based on the Consumer Price Index. The April 1, 2013 adjustments can be found at: http://www.courts.ca.gov/documents/ej156.pdf Page 1 is adjustments to System 2 (CCP Section 703.140(b)) and Page 2 is System 1 (Code of Civil Procedure (CCP) Section 704.010 et. seq.). The homestead exemption under System 1 is not one of the exemptions that are adjusted.
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LadyInTheRed started a blog post California Bankruptcy ExemptionsCalifornia Bankruptcy Exemptions
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#1debee commentedEditing a commentHey Lady
I'm glad you mentioned this blog in one of your forum posts. Really good info for CA filers. I will be sending people here too!
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