Increased Protection for Your Car in Bankruptcy. Changes that went into effect at the beginning of 2023 increase the vehicle exemption amount available in California. Both Section 703.140 and Section 704.010 were amended to increase the exemptions available for motor vehicles. The amount available for vehicles was increased to $7500 under both sections. Changes to […]
California’s New Foreclosure Law On January 1, 2021 new foreclosure laws went into effect that altered the foreclosure process in California. Under Senate Bill 1079 signed into law on September 28, 2020, a property that is a one-to-four-unit residential dwellings is subject to the new foreclosure rules. The law added Section 2924m which states that […]
It’s true: once a creditor gets a judgment against you it can take money out or your bank, credit union, or other financial institution account to pay that judgment. This blog post gets into what exactly a judgment creditor can do to levy your accounts, and what you can do to stop it. HOW CAN […]
Huge Increase in California Homestead Exemption The homestead exemption protects a specific dollar amount of a homeowner’s home equity from his or her creditors. In California, the California homestead exemption amount of protection is substantially increasing as of January 1, 2021. This increase in protection makes it much more likely that homeowners in financial difficulty […]
Bankruptcy Appeals Court Ruling Protects Your Pawned Property under Chapter 13 where you still have the right to redeem the property.
Chapter 7 and Chapter 13 bankruptcy can provide you with options to avoid the sale of your home to prevent its foreclosure.
People often delay getting advice from a bankruptcy attorney and seeking assistance for filing for bankruptcy. Delaying this can have detrimental consequences.
The 9th Circuit BAP indicated that the factors to determine whether you can claim a California homestead exemption are the physical occupancy of the property and the debtor’s intention to live there. Lack of physical occupancy does not preclude someone from establishing residency.
There are limitations on the California homestead exemption for recently acquired homes. This limitation may apply to you if you have acquired your home within 1215 days of filing for bankruptcy.
Filing for bankruptcy can give you the time you need to get your vehicle back. It will give you the opportunity to examine your options for getting your repossessed vehicle back.
If your vehicle is repossessed in California you can get your vehicle back through redemption or reinstatement.
The automatic stay in bankruptcy will protect your vehicle from being repossessed. As soon as you file for bankruptcy the automatic stay goes into place and the creditor cannot repossess your vehicle.