These days, what people call a “home” can be anything from a mansion to a car parked in a part of the town where they won’t be hassled and can get some sleep. Bankruptcy law has always allowed people to protect their home, through something called a homestead exemption. Homestead laws are generally found in […]
Arizona Homestead increased to $400,000 by Prop 209
December 5, 2022, Arizona increased the state’s homestead exemption from $250,000 to $400,000, the exemption in bank accounts from $300 to $5,000, both the vehicle and household goods exemptions from $6,000 to $15,000, and the garnishment protection to 90% of disposable wages or 60 times the highest minimum wage in the state, whichever is greater. […]
New California Homestead Exemption Makes Chapter 7 Bankruptcy Available to Homeowners
As of January 1, 2021 Californians will enjoy a new homestead exemption law for California which will allow debtors to protect as much as $600,000 of their home’s equity.