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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Homestead Exemptions In Bankruptcy: California

Homestead exemptions in bankruptcy are designed to protect the equity in your home when you file for bankruptcy protection. The equity in your home is calculated by subtracting the market value of the home from the balance of your mortgages and any other liens. If this number is positive, you have equity in your home and will need to protect it.

California Homestead Exemption

While some states in America allow a debtor to choose from either state or federal exemptions, in a California bankruptcy you must use the state’s list of exemptions. There are many exemptions that cover other personal property such as jewelry, household items, bank deposits, and retirement accounts, but the real property that individuals own is often the most valuable and therefore the most important. There are two different sets of exemptions to choose from. You’ll want to discuss these options with your bankruptcy attorney in Fairfield California to find out which is the best for your personal situation.

California Bankruptcy Homestead Exemption Amounts

As mentioned earlier, when filing bankruptcy, you’ll select from one of two systems to safeguard the equity in your home. Under the 704 exemptions of the California Code of Civil Procedure, you can exempt up to $75,000 in home equity if you are single with no dependents, $100,000 if you live with a family member, and $175,000 if you are 65 and disabled or 55 and have both a low income. Under the 703 exemptions, you can exempt up to $26,800 in home equity.

When you are filing for bankruptcy in Fairfield, Calfornia the homestead exemption is automatic.

Additional requirements or restrictions may apply to your unique situation, so make sure to enlist the legal aid of an experienced bankruptcy law firm before filing for Chapter 7 or Chapter 13 bankruptcy. California has its own set of exemptions that your Fairfield bankruptcy attorney will understand and be able to help utilize to your advantage when applying for debt relief.

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