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Filing Bankruptcy in Florida
Importance of attorneys while filing bankruptcy under Florida bankruptcy laws.
Florida bankruptcy law has been introduced to provide debt relief to individuals who can’t pay off their creditors. Generally, people incur debt either knowingly or unknowingly depending upon their willingness in redeeming their dues. In case the debtor is facing genuine financial difficulties due to certain reasons, the law provides a legal facility to file bankruptcy in Florida, and avail some debt relief. Depending upon the nature and extent of your debt, the bankruptcy statute offers Florida Chapter 7 bankruptcy, and Florida Chapter 13 bankruptcy options. As per the federal and state laws, it’s mandatory to clear the “means” test to qualify for bankruptcy, and that’s where Florida bankruptcy attorneys come in - they can help you clear the test and aid you with your bankruptcy proceedings. It’s suggested you hire the services of a local bankruptcy lawyer and get legal help before you file for bankruptcy.
State exemptions in Florida
Federal bankruptcy exemptions are not available in Florida.
Homestead
Any property including a mobile or modular home up to unlimited value, and the property should not exceed ½ acre in either municipality, or 160 acres elsewhere. The spouse or the child of a deceased owner can claim homestead exemption. Property used as tenancy can be exempted by the debts owed by only one spouse.
Wages
Up to $100 of wages for the head of the family, and up to $500 per week on either unpaid or paid wages deposited into the bank account up to 6 months. All federal government employees pension payments required for support, and received 3 months prior.
Wild card
Any personal property up to $1,000 (Husband and wife can double).
Automobiles
Motor vehicles up to a maximum of $1000.
Misc.
Alimony and child support exempted. Property registered as a business partnership. Funeral contracts deposits.
Florida bankruptcy lawyer
Florida bankruptcy filings can be time consuming and difficult. To avail debt relief it’s important to seek the exemptions available within the particular type of bankruptcy you file for. Florida bankruptcy lawyers can help you avail these exemptions. And what’s more important, you benefit through the legal counseling and help which will make your bankruptcy proceedings easier. So it’s recommended you check out which lawyers are available in your area, and select a good Florida bankruptcy attorney who can represent you, and arbitrate with the trustee appointed by the bankruptcy court so that you can get substantial debt relief.
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