Florida Bankruptcy Exemptions
When people think of bankruptcy exemptions, they typically think of federal exemptions. However, Florida has its own set of exemptions that bankruptcy filers can use. The most notable of the Florida bankruptcy exemptions is that you can keep all equity in your home, even if you have a $500,000 home that is completely paid for.
You also may be worried about a wide range of other personal property, including your car, jewelry, antiques and collectibles. It is important to understand that much of your property — your clothes, furniture, appliances and electronics — is not at risk, simply because it has no resale value. Property is not looked at in terms of the amount you paid for it, but in terms of the amount it could be sold for. In this economy, very little of what most people have can be sold for any substantial amount of money, meaning that property can be kept during bankruptcy.
Want to learn more about Florida bankruptcy exemptions? Protect your rights, your family, and your future. Call Nardi & Nardi, P.A., now at 407-478-0074 or contact us by email.
Orlando Home Equity Exemption Attorneys
Our Florida bankruptcy exemption attorneys will carefully review what you own and what you want to protect. We will discuss how the home equity exemption applies to you, covering all available options and alternatives before we move forward with the bankruptcy process.
They Cannot Take Property That Is Owned Jointly
If your car or any other property is co-owned by your spouse, and your spouse is not filing bankruptcy jointly, that property is automatically protected. The bankruptcy court cannot force your spouse to sell his or her portion of the car, so the trustee cannot get it. This is why it is crucial that we carefully review all property and who owns it before moving forward.
Call us at 407-478-0074 today to speak directly with an experienced Orlando, Florida, lawyer or contact us by email to learn more.
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