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California Bankruptcy Exemptions

California Bankruptcy Exemptions for 2020

A quick summary of the main exemptions under California law.

Updated: 2020-08-27 by

California Exemptions Summary:

Homestead

$300,000 to $600,000 depending on county, and median sale price for a home in prior calendar year.

2021 California Homestead Caclulator (by County)

Vehicle Exemption

Motor vehicles to $3,325, or $3,325 in auto insurance for loss or damages (husband and wife may not double)

Personal Property

Jewelry, heirlooms & art to $8,725 total (husband and wife may not double)Health aids
Building materials to repair or improve home to $3,500 (husband and wife may not double)
Tools, implements, materials, instruments, uniforms, books, furnishings, & equipment to $8,725 total ($17,450 total if used by both spouses in same occupation); amount of exemption for commercial motor vehicle not to exceed $4,850 ($9,700 if used by debtor and spouse in same trade)

Wild Card

None (use federal non-bankruptcy wage exemption)

Deposit Accounts  to amount "necessary for the support of the judgment debtor, as well as the judgment debtor’s spouse and dependents"(CCP 704.225.) Using this exemption, a family living paycheck to paycheck could likely exempt an entire account balance; however, courts have yet to weigh in on the new law. A debtor must assert this exemption for it to apply.

 

You may also be interested in:

  • What are Bankruptcy Exemptions?

    Every state has laws that designate certain types of property (your home, some personal possessions, tools of your trade) that are off-limits to "unsecured" creditors. Some states give you the option of using the Federal bankruptcy exemptions.

  • Where do I file for bankruptcy?

    Bankruptcy is federal law and you file in the local Federal District Bankruptcy Court. Find out yours.

  • Which State's Exemptions Must You Use?

    If you have lived in your state for two years prior to filing, use your state's exemptions. If you've lived in your state for less than two years, the rules are more complicated...

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Connect With a California Bankruptcy Attorney

Enter Your Zip Code or Call (855) 410-1378 to Connect with a Lawyer In Your Area

Automatically apply the Kern County expense standards, and California income standards to your means test calculation.

ADVERTISEMENT

Connect With a California Bankruptcy Attorney

Enter Your Zip Code or Call (855) 410-1378 to Connect with a Lawyer In Your Area

ADVERTISEMENT

Connect With a California Bankruptcy Attorney

Enter Your Zip Code or Call (855) 410-1378 to Connect with a Lawyer In Your Area

Garlock, CA: Law