Bankruptcy Exemptions in the San Fernando Valley

San Fernando Valley Bankruptcy Attorney

In filing for Chapter 7 bankruptcy, individuals are commonly required to have some of their assets liquidated (sold) in order to assist in paying off their creditors.  These assets are traditionally referred to as "nonexempt," as they are not considered exempt to the liquidation process.  There are assets that are "exempt," however, and these are usually authorized as such by a bankruptcy court.  Some common exempt assets in California include:

• Homestead - Real or personal property such as mobile homes, boats, community apartments, planned developments or condominium.
• Personal property - Items such as jewelry, household appliances, furniture, clothing, as well as motor vehicle up to a certain value
• Disability or health benefits
• Pension and Social Security benefits
• Tools of the trade
• Bank accounts up to a set amount

There are additional exemptions one may be able to take in their bankruptcy case.  For information on what you may be able to have considered exempt, contact a San Fernando Valley bankruptcy lawyer today.

Seasoned Bankruptcy Lawyer in the San Fernando Valley

Knowing what you will be able to have exempted in your bankruptcy can help you avoid liquidation of some of your most valued assets.  An experienced bankruptcy attorney will be well-versed in exemption law, and will be able to assist you in accurately determining what you can keep during your bankruptcy proceedings.  The Law Offices of John Ribarich possesses a team of such attorneys, who have helped numerous clients successfully navigate their bankruptcy cases.  Contact our offices today, and we will help walk you through the bankruptcy process, so that you can regain financial freedom without having to lose some of the possessions that are most important to you.

For information on what exemptions you may be able to take in your bankruptcy filing, contact a San Fernando Valley Bankruptcy Lawyer today.