Florida Bankruptcy Exemptions Explained
Are you considering filing for bankruptcy in Florida? It can be a difficult decision, but understanding the state exemptions available can help make the process easier.
The State of Florida allows filers to protect certain assets from creditors when filing for Chapter 7 or Chapter 13 bankruptcy. These are known as “exemptions” and they help filers keep some of their property, such as a car or their home, during the bankruptcy process. Depending on the type of exemption chosen, some of your assets may be entirely exempt while others may only be partially exempted. Understanding what assets are protected and how much is allowed can make a huge difference in your overall financial situation.
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