California Bankruptcy Exemptions Attorney

What Will I Keep if I File for Bankruptcy?

Many debtors spend their nights worrying about how to pay their bills. They live in fear of losing their homes, vehicles and important assets. Yet the idea of "bankruptcy" fills them with shame, uncertainty and dread. "Bankruptcy" is not a bad word.

What if someone told you it was better than what you are going through now? What if you could keep nearly everything you need while eliminating the stress of indebtedness forever?

"Filing for bankruptcy does not mean you must sacrifice the possessions you value most. I have countless satisfied clients past the threshold of bankruptcy and into brighter financial futures." - Attorney Michael H. Raichelson

Federal bankruptcy laws allow for certain assets to be exempt from bankruptcy proceedings. Each state has its own exemptions.

In California, two systems are used to determine exemptions — one geared towards equity in your home and the other towards cash and liquid assets. The Law Offices of Michael H. Raichelson will help you determine which system works best for you.

West Valley Chapter 7 Bankruptcy Exemptions Attorney

In general, you are allowed to keep your:

Home's equity up to between $75,000 to $175,000
Vehicles up to certain limits
Checking and savings accounts up to certain limits
Household goods and furnishings
Personal belongings
Pensions
401(k) accounts and other retirement accounts
Social Security benefits
Tools of the trade up to certain limits
Unemployment compensation
Welfare benefits

Learn More About the Bankruptcy Homestead Exemption

The values of many of these exemptions are capped under California law. To get complete and current information about California bankruptcy exemptions, consult with a California bankruptcy exemptions attorney at The Law Offices of Michael H. Raichelson, 818-921-7306.

We know how to get our clients a discharge if they qualify. We have a high success rate for qualifying bankruptcies.

Spanish translation is available. Servicios de traducciones disponibles.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

I was in a really horrible place financially after the collapse of my business due to the economic recession. A friend referred me to the law offices of Michael Raichelson. At the very first meeting Mr. Raichelson put me at ease, assessed my situation and informed me that bankruptcy was the best option and told me he would guide me through the entire process. Everything went so smoothly and I'm so grateful to Michael and his staff for their support and successful resolution of my case. 'm now off to a brand new start and life! R.B
If you are going through a bankruptcy this is the attorney to use. He is a thorough, caring and most of all a patient attorney who knows how to get the job done with no surprises. I highly recommend him and would hire him again. N.K.
We are extremely satisfied with how Mike handled our case. After consulting with numerous lawyers about our bankruptcy filing, we picked Mike because he proposed a bankruptcy filing strategy for our situation that was most favorable to us than other's proposal. He is knowledgeable, professional, courteous, responsive and got the job done quickly. He completely looked after our best interest and delivered results as he had promised from the initial consultation.
S.P.
Manager, Employer Contracts
HNCA
When my husband became permanently disabled and unable to work any longer we were devastated. We had bills, like every American does, that were not going to be able to be paid with the loss of income. When I found out that I was going to be laid off from my job we didn't know what we were going to do. After speaking to an attorney locally I was very discouraged and didn't think we were going to have any hope at all with our bills. I then looked online and found Michael Raichelson. My husband and I went to speak with him and boy did he put our mind at ease. We left his office feeling that there was hope and a way out. He was the biggest help in making us feel assured that all was going to be okay. The process was fast and painless and I believe this was due to the professionalism and good work of Michael and his firm. We were blessed to have found Michael and even further blessed to get the help we needed.
K and J
To Whom it May Concern:
As clients of Michael H. Raichelson, my wife and I are extremely pleased to recommend his services.
When we first met Michael, our situation was pretty grim. Health problems, unemployment, and a drastic drop in the value of our house had turned our lives upside down. We just couldn't pay our bills.
Credit counseling and our research on the internet made it clear that bankruptcy was inevitable. What wasn't clear was what bankruptcy would mean for us. We felt like we were being pushed over the edge and would lose everything. Fortunately, that's when we were referred to Michael.
Michael understood what we were going through. Due to his experience with the court where we had to file and his knowledge of current, real-world conditions with creditors and banks, he was able to explain exactly what would happen and when. After our first meeting, we felt like a tremendous physical weight had been lifted from our shoulders. We felt like we were in control of our lives again.
Today, everything has unfolded just as Michael had told us it would. We are debt free and enjoying a fresh start. We strongly urge anyone faced with bankruptcy to have Michael help them as he has helped us.
Sincerely,
R.F.D

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The Law Offices of Michael H. Raichelson
6400 Canoga Avenue
Suite 352
Woodland Hills, CA 91367
Phone: 818-921-7306
Toll Free: 888-367-5012
Fax: 818-444-7776
Woodland Hills Law Office

The Law Offices of Michael H. Raichelson
1000 Town Center Dr.
Suite 300
Oxnard, CA 93036
Oxnard Law Office

SuperLawyers NACBA National Association of Consumer Bankruptcy Attorneys

The Law Offices of Michael H. Raichelson in Woodland Hills, California, serves bankruptcy clients in the San Fernando Valley (The Valley) region of Southern California, including Los Angeles, Burbank, Glendale, San Fernando, Hidden Hills, Calabasas, Encino, Sherman Oaks, Van Nuys, Ventura, Simi Valley, West Hills, Oak Park and Agoura Hills. We serve all communities in Los Angeles County and Ventura County.