California Bankruptcy Exemption Amounts Have Increased

On April 1, 2010, California adjusted its exemption amounts to account for inflation. (The State of California makes a similar adjustment every three years.) The exemptions for both System 1 and System 2 have increased, which means that filers of Chapter 7 bankruptcy will get to keep more of their property. You can find the new exemption amounts on the website of the California courts, here. (They are called "exemptions from enforcement of judgments" because these exemptions apply to any debt collection, inside or outside bankruptcy.)