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The Fight For Better California Exemptions

By Cathy Moran

tug-of-war-1013740_1280_opt

The fight for modern California exemptions happens this week in Sacramento.

On one side are average folks and seniors;  on the other is the financial services industry.

The struggle is for the votes of California Assembly members on SB 308.

The bell rings on this month  We’ll have winners and losers within days.

SB 308 protects families & the self employed

Exemptions are legal protection from creditors for the essentials of day-to-day living.  They limit what a creditor can take from you.

The value of California’s exemptions has fallen behind the cost of living and the employment mix of our citizens.

They no longer work well to protect the roof over your head,  the car in your garage, or your small business.

SB 308 would fix some of those shortcomings.

The bill creates a $5000 exemption for the self employed to shelter inventory, receivables or cash.  That puts the gigsters and the entrepreneuers on similar footing with wage earners.

The bill increases the protections for equity in a California home, particularly important for seniors.

And it eliminates a current provision that makes a married person filing alone get their spouse’s consent to their choice of exemptions.  And there’s a new exemption protecting child support and family support from creditor garnishment.

Assembly members who haven’t taken sides

Here are some Assembly members  who appear to be undecided and the Assembly district they represent.  Find your assembly district.

Alejo30Gipson644
Gomez51Low288
Ridley-Thomas54Rodriguez52
Waldron75Calderon57
Chu25Cooley8
Dababneh45Daly69
Eduardo Garcia56Gray21
Levine10McCarty7
Salas32Santiago54
Wood2

 

Call, write, email or fax

If you take sides with average folks, contact your representative today.  Time’s run out.

Your message is simple:  Please vote for S.B. 308.

Enter your zip code from this link and get a sample letter you can send to your Assembly member with a mouse click.

Join with a great coalition of others who want to balance the rights of average folks against moneyed corporations.

 

More from the Soapbox

  • California Needs Better Homestead LawCalifornia Needs Better Homestead Law
  • California Exemption Bill: It’s A Woman’s IssueCalifornia Exemption Bill: It’s A Woman’s Issue
  • Marital Separation Doesn’t Require Two HomesMarital Separation Doesn’t Require Two Homes
  • Laboring Over Bankruptcy PapersLaboring Over Bankruptcy Papers
  • Small Businesses Need SB 308Small Businesses Need SB 308

Filed Under: Newsworthy Tagged With: 2016

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

About The Soapbox

You've arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said "try").

Here, I allow myself to tell stories and express strong opinions on how I think law should work for the consumer and small businesses when it comes to debt.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

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