Q: How much money am I allowed to have in my bank account if I file a bankruptcy in California?
The exemption that is usually used for money in bankruptcy in California is called the Wild Card Exemption. You can use more of it on a bank account or less depending on what else you are trying to protect.
Exemption planning for cars, for houses, for bank accounts is complicated. For the best results you should talk to a lawyer. If you are trying to protect equity in a house, then you would not get a wild card exemption. You should really discuss with a lawyer to see what exemptions are right for you.
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