Hi again. I didn't see your updated questions when I responded again. I'll answer them now:1)Can we prepay our rent for one year before the bankruptcy to move our cash somewhere?
No. That would be considered favoring a creditor. The trustee would make the landlord
give the money back.2) We also only have one $3,000 old mini van. Can we buy a car for about $20,000 and is there a protection for the vehicle?
No, you can only protect up to $2,775 of a vehicle's value. If the vehicle is worth more, then the trustee will sell it. Your $3000 van will probably be okay, but not a $20,000 vehicle.
3) Basically, what are the exemptions and limits for the various things in CA? There are too many to list here, but you can see the list by CLICK HERE
.Also, We have about $70,000 worth of silver. How much of that can be protected?
No. Unfortunately most of it would be seized. We are thinking of selling off whats not protected of the silver and buying a boat to live on like we have always wanted to do and we would leave our rental to make the boat our primary residence. Will the boat be protected as it would be our homestead.
Yes, that is not one thing you mentioned that would actually work to protect some of your assets. You can protect up to $75,000 of a homestead, and it can include a boat.
I hope that helps. Please remember to click "accept."