Seeking attorney in los angeles, ca area for filing chapter 7 bankruptcy, is retirement money exempt from creditors

11k per month is ordinarily too much to file a chapter 7 on, but you need to consult with a local attorney to get this figured out. keep in mind, that if you aren't going to keep the rental properties (which it doesn't really sound like you would benefit from keeping them), you will free up money to pay into a chapter 13 plan. But you need to have an attorney actually look at your situation and figure this out for you. With regard to your retirement fund, you have an exemption for retirement funds, so most likely it should all be exempt, however I am unfamiliar with California's exemptions. Most states have a very large or unlimited exemption for retirement funds though.

Another consideration regarding your income is whether the $11000 includes the past rental incomes. If it does and you are not receiving that income any more, you certainly would be a candidate for a Chapter 7. It sounds like you have a pretty complex situation and could benefit from some local and more focused advice. When you do talk to an attorney, be kind and air all of your dirty laundry that you can recall. It's not a lot of fun from the attorney's chair to wonder what monster lurks around the next corner when every time your client calls there is a new issue that crops up.

As far as your retirement money goes, you are likely to be able to keep it. It does depend on the exemptions available in CA, too. There is always a time limit on funds socked into a retirement fund. I'm not sure what the period is in CA but if you saved in 2007 and the period is 12 months, you could just wait it out and file after the waiting period is over.

Retirement funds are generally protected. Whether you get to keep the recent contribution depends on whether that contribution was tax deductible. If you contributed more than the "allowed" amount, the excess may be recoverable for your creditors in a bankruptcy case.