Hello All,
I am working on my own BK documents and am currently working on my exemptions. Any help you can give will be very much appreciated.
In California you must chose one of two different sets of exemption codes, either CCP section 703 or CCP section 704. I don't know why there are two different sections but can't help but wonder, is it because a person can only qualify for one or the other depending on their circumstances? If so, what are those circumstances? Since using either set brings me different points of confusion, I will start with that question. Maybe if I have more of an understanding I won't have so much confusion and less questions for all of you in my next post! YaY!
Here's a bit about me, or rather pretty much everything about me. Well that's not true - the real important stuff isn't included. ;-)
I live in California and my assets are minimal. They include: basic home furnishings & personal items, a 12 year old car, a public retirement 401 plan that I do not yet qualify for, monthly SSDI payments (my only income), two checking accounts and one savings account (all holding money from my SSDI payments and back pay), and an investment account that I've had for about 5 years now (and still haven't learned what to do with. Help? Anyone? lol). Its market value is only about $150. My debt for the most part is consumer debt, debt from credit cards and medical bills, and I have a foreclosure from 2014. I currently live in a home where I rent a room.
Thank you in advance for helping me. Below are the links to the exemption code sections which I shortened using Googles URL shortener.
703 code: https://goo.gl/VqcMWR
704 code: https://goo.gl/2FW2t2
I am working on my own BK documents and am currently working on my exemptions. Any help you can give will be very much appreciated.
In California you must chose one of two different sets of exemption codes, either CCP section 703 or CCP section 704. I don't know why there are two different sections but can't help but wonder, is it because a person can only qualify for one or the other depending on their circumstances? If so, what are those circumstances? Since using either set brings me different points of confusion, I will start with that question. Maybe if I have more of an understanding I won't have so much confusion and less questions for all of you in my next post! YaY!
Here's a bit about me, or rather pretty much everything about me. Well that's not true - the real important stuff isn't included. ;-)
I live in California and my assets are minimal. They include: basic home furnishings & personal items, a 12 year old car, a public retirement 401 plan that I do not yet qualify for, monthly SSDI payments (my only income), two checking accounts and one savings account (all holding money from my SSDI payments and back pay), and an investment account that I've had for about 5 years now (and still haven't learned what to do with. Help? Anyone? lol). Its market value is only about $150. My debt for the most part is consumer debt, debt from credit cards and medical bills, and I have a foreclosure from 2014. I currently live in a home where I rent a room.
Thank you in advance for helping me. Below are the links to the exemption code sections which I shortened using Googles URL shortener.
703 code: https://goo.gl/VqcMWR
704 code: https://goo.gl/2FW2t2
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