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Our Los Angeles bankruptcy lawyer can protect your property.

The sponsoring Los Angeles bankruptcy lawyer of Legal Helpers can use California state law to protect the equity in your personal property. As your Los Angeles bankruptcy lawyer will explain, equity is the difference between the market value of your property and the claims held against it. By using these laws, your Los Angeles bankruptcy lawyer can keep creditor's hands off your cherished possessions.

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Homestead Exemption

This exemption can protect up to $75,000 in equity in your house and land, mobile home or boat. Additionally, your California bankruptcy lawyer can protect $100,000 for a person who is 65 or older, disabled, or over 55 with an annual gross income of $15,000 or less.

Alimony, Support Exemption

Your California bankruptcy lawyer may exempt alimony, support, or separate maintenance, to the extent reasonably necessary to help support you during your bankruptcy.

Proceeds of Sale of Homestead Exemption

Along with the Homestead Exemption mentioned above, a California bankruptcy lawyer may also be able to exempt proceeds if you sell your home within one year prior to the bankruptcy.

Motor Vehicle Exemption

Your attorney can use this exemption to protect $1,900 in value of any one motor vehicle listed in your filing.

Clothing, Textbooks, Bible, Family Picture Exemption

This exemption allows your attorney to protect 100% of your interest in various personal items such as your clothing and personal heirlooms.

Life Insurance Proceeds Exemption

This exemption can protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependents.

Qualified Retirement Plan Exemption

Your attorneys can prevent creditors from touching the proceeds of your hard-earned retirement plan. They can exempt anything from stock bonuses, pensions, profit sharing plans and annuities as long as your savings are in a qualified retirement plan.

Tool of the Trade, Professional Books Exemption

This exemption can protect up to $5,000 of the tools you use in your profession for both you and your spouse if each is engaged in a trade or business. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter.

The lawyers at Legal Helpers understand that no one deliberately gets into financial trouble. An unexpected emergency illness or accident can cause you to miss house and car payments. Legal Helpers can help you legally and help you rebuild your good credit. Added to giving you the immediate protection you need now, they can also help you find the best path to a financially stable future.

Los Angeles bankruptcy lawyers

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