In Ch 7 On Schedule C- Property claimed as Exempt form, my car is my only exemption. I don't own any other property. In this
Los Angeles, CA
Viewed 62 times.
Posted about 1 month ago in Bankruptcy / Chapter 7
Flag as objectionable
In Ch 7 On Schedule C- Property claimed as Exempt form, my car is my only exemption. I don't own any other property. In this case would one check:
11 U.S.C. 522 (b) (2) OR 11 U.S.C 522 (b) (3) Would the car be considered 2 or 3 in Los Angeles? Answers (1)Vincent A. Gorski
This attorney is licensed in California and 1 other state.
Posted about 1 month ago.
Flag as objectionable
On Schedule C you will check box 522(b)(3), this is because California has opted out of the 522(d) Bankruptcy Code exemptions. However, you will still need to provide the applicable code section for the exemption you are seeking.
California state law gives you the option to choose between (1) a set of state law exemptions similar (but not identical) to the Bankruptcy Code exemptions; and (2) California's regular (non-bankruptcy) exemptions. You need to check out which set of exemptions better serves your purposes. I wish you the best of luck in finding a resolution to this matter. Disclaimer: The materials provided herein are for informational purposes and neither constitute legal advice nor should they be relied upon as legal advice. Every situation is fact sensitive, and it is impossible to evaluate a legal problem without a comprehensive consultation and a review of all facts and documents at issue. This answer does not create an attorney-client relationship. I am a California Bankruptcy lawyer.
Back to Search Results
Next question: how to fight a third degree felony case Previous question: i was involved in a car accident that involved kids |