Two California bankruptcy, California bankruptcy lawyer, California bankruptcy attorney there is ardent need to understand the 703 California bankruptcy exemptions that grant protection to etc.(Scotland) in the state of California. Typically, bankruptcy exemptions are listed items which a top is allowed to retain when he is considering filing a bankruptcy under state or federal bankruptcy laws. And probable in California bankruptcy filers have two different sets of bankruptcy exemptions-703 and 704-that are available at their disposal out of which they can select anyone. There is ardent need to understand the 703 California bankruptcy attorney that grant protection to etc.(Scotland) in the state of California. Typically, bankruptcy exemptions are listed items which a top is allowed to retain when he is considering bankruptcy filing online under state or federal bankruptcy laws. And probable in California bankruptcy filers have two different sets of bankruptcy exemptions-703 and 704-that are available at their disposal out of which they can select anyone.
But most of the debtors who do not own any assets such as home or have lower amount of equity left in their home generally prefer to use the 703 bankruptcy protections to get rid of their excessive debts. Here is some crucial information pertaining to the same which could guide you in your endeavor. If you are considering filing bankruptcy in California, you can avail 703 bankruptcy exemptions and protect the below mentioned properties. Homestead protection: You can avail a homestead exemption worth $20, 725 for protecting your home equity in addition to $1,100 on wildcard protection provided you have not claimed exemption on any other property. This way you can protect your home equity by filing a bankruptcy. Wild card protection: in case the equity left in your home is less than $20, 725 or do not have any equity left in your home, it is possible for you to avail the unused portion of your homestead protection in terms of a wild card.