“Wild card”: what it means for Sacramento bankruptcy filings

“Wild card”: what it means for Sacramento bankruptcy filings

“Wild card” is a term used for bankruptcy filings here in Sacramento and California related to protecting (exempting) your property. In addition to exempting all forms of your property, exemption laws used in California allow you an extra allowance of property protection by increasing the amount of property you can protect through a “wild card.” When applicable, the wild card exemption allows over $20,000 of property protection when you file for bankruptcy. Often the wild card is used to protect cash, bank accounts or tax refunds. It is a great tool to protect your property while eliminating your debt through bankruptcy.