Filing bankrupcy in California?

Question

I need to file bankrupcy ch 13 in ca due to being an independant contractor and oweing the irs alot of money. I was wondering can they take vehicles which I am paying for? Yes, I have other debt as well but the taxes are the main thing. I have two vehicles which i pay 800 a month for, should I let those go? Or will they force me to (meaning irs)

Answer 1

CALIFORNIA STATE EXEMPTIONS

California has two sets of exemptions that a debtor can choose from when filing bankruptcy in California.

Debtors filing bankruptcy in California can use this set of exemptions or the California bankruptcy exemptions found in CCP 703.140.

An individual filing bankruptcy in California must choose one set of exemptions or the other. You can't take one from this system and another from the other system.

If their is a lien on the title to the vehicles, then chances are they won't be touched, but that would depend if the vehicles are registered to the business or privately owned.

Here is a link to find out more about California laws.  It seems California has their own set of rules.

http://www.moranlaw.net/703.htm

Hope this answers your question

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.