Florida Bankruptcy

Considering filing bankruptcy? Chapter 7 bankruptcy was designed to eliminate debt and stop creditor harassment. Speak to a Florida bankruptcy lawyer today about your options.

We can easily connect you with a Florida bankruptcy lawyer in your area. All you have to do is plug in your ZIP code below and fill out our free 2-minute bankruptcy evaluation form. Make the first move right now and fill out the below quick form.

Florida Chapter 7 Bankruptcy Laws

If you’re from Tampa, Orlando or somewhere else in Florida and are considering filingChapter 7 bankruptcy, you’ll want to learn about the bankruptcy exemptions in your state. With a Florida Chapter 7 bankruptcy lawyer on your side, you have a great opportunity to find out which items you own may or may not be subject to Chapter 7 liquidation.

As your Florida Chapter 7 bankruptcy lawyer is likely to explain, Chapter 7 bankruptcy is often simply called liquidation because the bankruptcy trustee has the option of selling or liquidating your non-exempt assets in order to repay any unsecured debts, such as medical bills and credit card balances, which you may owe.

A Florida Chapter 7 bankruptcy lawyer in your area can also let you know that many people who file Chapter 7 bankruptcy do not own any non-exempt assets. This is good news because it means that there is no property for the trustee to liquidate and that the person filing Chapter 7 bankruptcy is able to keep most, if not all, of their belongings.

Florida Chapter 7 Bankruptcy Exemptions

If you have unmanageable unsecured debts and are considering filing Chapter 7 bankruptcy in Florida to discharge them and get a fresh start, you may be anxious to find out which and how much of your property could be exempt from liquidation.

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.

At Chapter7.com, we make getting in touch with a Florida Chapter 7 bankruptcy lawyer easy. All you need to do is give us a call at 877-226-6844 or fill out our free bankruptcy evaluation form and we’ll put you in contact with a local Florida Chapter 7 bankruptcy lawyer as soon as possible.

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.