What are the breakdowns of personal assets that can remain secure between a husband and wife? For example, I own my car and it is worth about 15k. Will that be up for grabbs?
Very much appreciated!
Suggestion:
Yes, up to $1 million.
In California you can choose to utilize either the State or Federal exemptions. What is exempt (from being taken to repay creditors) is FAR too complex a topic to answer in a general Q&A format such as this one.
Make a face-to-face appointment with a local bankruptcy attorney licensed to practice in California (many offer one free appointment) to discuss the options available to you for filing bankruptcy and exempting particular assets that you now own (i.e., car).
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