Wildcard · Beverly Hills
The Wildcard Exemption Under CCP 703.140(b)(5)
The wildcard exemption under CCP 703.140(b)(5) protects $1,950 of any property you choose, plus any part of the System 2 home exemption you do not use, for a total of up to $38,700 (amounts effective April 1, 2025). It is only available in System 2. Call (310) 362-9071 and we will show you what your wildcard can cover.
- Base wildcard: $1,950
- Plus any unused part of the $36,750 System 2 home exemption
- Maximum: $38,700 (amounts effective April 1, 2025)
- Works on cash, refunds, car equity or almost anything else
At a glance
How the wildcard is figured
The wildcard is figured in two parts. Code of Civil Procedure section 703.140(b)(5) gives you $1,950 to use on any property. It then adds "any unused amount" of the exemption in paragraph (b)(1).
Paragraph (b)(1) is the System 2 exemption for a home or burial plot. It is $36,750 (effective April 1, 2025). Whatever part of that you do not claim for a home or burial plot gets added to your wildcard.
| Your situation | Home amount used | Your wildcard |
|---|---|---|
| Renter, no burial plot | $0 | $1,950 + $36,750 = $38,700 |
| Homeowner with $20,000 of equity | $20,000 | $1,950 + $16,750 = $18,700 |
| Homeowner with $36,750 or more of equity | $36,750 | $1,950 |
The wildcard is part of System 2. If you choose System 1, there is no wildcard at all. See how the two compare on our System 1 vs System 2 page.
What renters can protect with it
Renters get the most from the wildcard, because the full home amount rolls into it. You can spread it across any property that other exemptions do not fully cover. Common uses include:
- Cash and bank balances on the day you file.
- A tax refund you are owed but have not received yet. See wages, tax refunds and cash on filing day.
- Car equity above the $8,625 motor vehicle exemption.
- Jewelry above the $2,175 System 2 jewelry limit.
- Household items worth more than $925 each, such as a piano or a high-end TV.
- A rent security deposit your landlord is holding.
- Money owed to you, such as a loan to a friend or a final paycheck.
- Other assets, such as crypto, stock in a brokerage account or a second car.
All dollar figures above are effective April 1, 2025.
You decide how to split the wildcard. We list each item on your schedules with the amount of wildcard used for it. Values are measured on the day you file, so a bank balance or a refund amount is fixed as of that date. If the trustee thinks an item is worth more than you listed, the wildcard space you have left can sometimes cover the difference.
The wildcard matters in Chapter 7, where a trustee can sell property that is not protected. It also matters in Chapter 13. There, you must pay unsecured creditors at least what they would get if your unprotected property were sold. A larger wildcard can lower that amount and your plan payment.
Examples
Example 1: a renter. Say you rent and have $6,000 in checking, a $3,500 tax refund coming and a paid-off car worth $14,000. The car exemption covers $8,625 of the car. The wildcard covers the other $5,375 of the car, the $6,000 in checking and the $3,500 refund. That uses $14,875 of a $38,700 wildcard, so all of it is protected.
Example 2: a condo owner. Say you own a condo with $25,000 of equity. Under System 2, you use $25,000 of the home amount. Your wildcard is $1,950 plus the unused $11,750, or $13,700. If your other property fits inside that, System 2 may work. If your equity were much larger, System 1 and its homestead would likely be the better fit. Read more on our California homestead exemption page.
These examples are for illustration only. Your numbers depend on what you own on the day you file.
Wildcard mistakes to avoid
- Counting the wildcard twice. Every dollar you use on one item reduces what is left for the next.
- Forgetting small items. A security deposit or money a friend owes you uses wildcard space too.
- Claiming it under System 1. System 1 has no wildcard. Mixing systems is not allowed.
- Married and filing alone without a waiver. A married person filing alone needs both spouses to waive System 1 in writing to use System 2.
What it costs
- Chapter 7: flat attorney fee from $1,200, plus the $338 court filing fee
- Chapter 13: attorney fee quoted in writing, and part of it can be paid through the plan
- Payment plans are available, and the first consultation is free
More on what you keep
- California bankruptcy exemptions: what you keep
- California Exemptions: System 1 vs System 2
- The California Homestead Exemption and How Yours Is Figured
- The California Motor Vehicle Exemption
- The Wildcard Exemption Under CCP 703.140(b)(5)
- Retirement Accounts, 401(k)s and Pensions in Bankruptcy
- The Tools of the Trade Exemption
- Household Goods, Jewelry and Personal Property
- Wages, Tax Refunds and Cash on Filing Day
Wildcard exemption questions
How much is the California wildcard exemption?
The California wildcard exemption is $1,950 plus any unused part of the $36,750 System 2 home exemption, for a total of up to $38,700 (amounts effective April 1, 2025).
Can I use the wildcard to protect cash?
Yes, you can use the wildcard to protect cash in your wallet or bank account on the day you file. Cash is one of its most common uses.
Can a homeowner use the wildcard?
Yes, a homeowner can use the wildcard under System 2, but it shrinks as home equity uses up the $36,750 home amount. A homeowner with large equity usually does better with System 1.
Is the wildcard available in System 1?
No, the wildcard is not available in System 1. It exists only in System 2 under CCP 703.140(b)(5). See our guide to what you keep in bankruptcy.
Free consultation
See what your wildcard can cover
Call (310) 362-9071 or send the form. Bring your bank balances and a list of what you own and we will map out your wildcard for free.
Law Offices of John Asuncion9454 Wilshire Blvd., Penthouse Floor
Beverly Hills, CA 90212
(310) 362-9071
Monday to Friday, 9 a.m. to 6 p.m.