Florida Bankruptcy
In Florida, filing Chapter 7 bankruptcy may help you completely eliminate your credit card and medical debt.
Is Chapter 7 a good fit for you? You can learn more about how Chapter 7 works in Florida on this page.
Or you can get a free bankruptcy case evaluation by completing the free form on this page. We can connect you with a Chapter 7 lawyer in Florida near you who can answer your questions and explain the laws.
Florida Chapter 7 Bankruptcy Laws
If you’re considering filing Chapter 7 bankruptcy, you may want to learn about the state’s bankruptcy exemptions, and how they could impact you.
Chapter 7 bankruptcy is designed to work quickly and dramatically, often wiping out your unsecured debts in a few months.
In exchange for clearing your debts, your creditors may have the right to proceeds from a property sale. However, there is no property sale in almost all Chapter 7 cases thanks to Florida’s Chapter 7 exemptions.
Exemptions outline the property which is fully protected from sale during your case, and Florida has some of the strongest home protections in the country.
Florida Chapter 7 Bankruptcy Exemptions
Exemptions outline the property which is fully protected from sale during your case, and Florida has some of the strongest home protections in the country.
The following information provides a simple introduction to Florida Chapter 7 exemptions. For more in-depth information and advice, get in touch with a Florida Chapter 7 bankruptcy lawyer.
As your Florida Chapter 7 bankruptcy lawyer can explain to you in more detail, important Chapter 7 bankruptcy exemptions in the state include:
Homestead:
- If located outside a municipality: 160 acres of land and improvements.
- If located inside a municipality: .5 acre of land and improvements.
- 100 percent exemption for leased dwelling place, including mobile homes.
- Additional $50,000 exemption for anyone 65-years-old or older or if the household income is less than $20,000.
Wages: All disposable earnings of a head-of-family earning less than $500 per week are exempt. Disposable earnings above $500 per week may only be garnished if you agree to such in writing. Garnishment for any family member may not exceed standards set by Consumer Credit Protection Act.
Vehicles: $1,000 for one vehicle.
Personal Property:
- $1,000 for all personal property.
- Any hearing aids.
- You may receive an additional $4,000 exemption if you do not receive the benefit of the homestead exemption.
Questions? Speak to a Florida Chapter 7 Bankruptcy Lawyer Today
As you can see from these examples, Florida Chapter 7 bankruptcy exemptions can be extremely specific. Your Florida Chapter 7 bankruptcy lawyer can explain them in detail and help you determine how they may be applied in your case after filing bankruptcy.
If you want the help of a local Florida bankruptcy lawyer, we can connect you right away. Simply complete the form on this page or call 877-226-6844 and we’ll put you in touch with a lawyer who can provide a free case evaluation.
Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.
Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.