Bankruptcy lawyers in California can be found by searching the Internet. The client should ensure that he or she looks through all available options because choosing the wrong lawyer could mean the loss of one's home, business or other properties. In California, there is a board of bankruptcy lawyers that deals with consumer bankruptcy. They came from various law firms and offer services related to recovery from consumer-related debts. This board offers free legal consultation online. By answering confidential questions, the lawyers can offer would-be clients on the possible steps to take to protect their remaining assets. Bankruptcy lawyers in California are very well aware of the two statutes that bankruptcy filers can choose from. These two statutes have corresponding exemptions that are detailed in the sections 703 and 704 of the California Code of Civil Procedure. Bankruptcy lawyers should help their clients understand ways on how exemptions detailed in these sections can be utilized. Under section 703 and 704, the bankruptcy lawyer can choose from eight different types of exemptions. They are responsible for determining all applicable exemptions that fall under the following categories: homestead, equity in automobile, personal property, tools of the trade, insurance, pensions, public benefits and alimony and child support. Some examples of exemptions under the insurance section are disability benefits, life insurance proceeds and unmatured life insurances. Meanwhile, exempted personal properties include household items such as animal, furniture and jewelry. Each category has different qualifications and it is the responsibility of the bankruptcy lawyers to help their clients maximize these exemptions. However, bankruptcy lawyers are prohibited from using federal exemptions in California. Likewise, they are not allowed to choose the most favorable exemptions under each section. By choosing the right California bankruptcy lawyer, clients can properly protect properties that qualify under the abovementioned exemptions. As such, clients should be careful in choosing their bankruptcy lawyers. A wrong choice can lead to unnecessary loss of assets. |
