Keep Your Home and Personal Property in Bankruptcy
If you are considering Chapter 7 bankruptcy as a means of discharging credit card debt, medical bills and other forms of debt, you may be concerned about losing your home or other assets in the process. Fortunately, a means of asset protection is available through the use of exemptions. These exemptions are designed to protection bankruptcy debtors by allowing them to keep certain property while providing relief for the future.
At the Miami Bankruptcy Center, our lawyers can help you understand what property may qualify for exemptions and how you may protect your assets during the bankruptcy process. Bankruptcy will automatically stop foreclosure and repossession proceedings, as well as all creditor harassment, but you could still lose that property if it is not protected from creditors.
Contact us in Miami, Fort Lauderdale or the surrounding communities of South Florida to learn more about asset and property protection during a bankruptcy. Call toll free at 888-692-1145 to schedule a free initial consultation.
Types of Property Exemptions in Florida
There are several types of property and assets that are subject to protection through the use of exemptions in Florida. These exemptions often cover a certain portion of these assets and Florida offers some of the highest exemptions of any state in the U.S. These exemptions often include:
- A primary home (or homestead)
- Life insurance
- Disability or illness benefits
- Alimony and child support
- Pensions and retirement accounts
- Motor vehicles
- Other personal property
Of course, these exemptions often depend upon the individual circumstances of the case, so it is always in your best interest to talk with an experienced attorney first. We can explain exemptions to you, what you may qualify for and how that will impact the effect of your bankruptcy filing.
Experienced Asset Protection
Your property is important and you should explore every option for keeping that property, while getting the debt relief you deserve. Through the use of exemptions, this may be possible. Contact us at the Miami Bankruptcy Center to learn more at a free initial consultation. Call our attorneys toll free at 888-692-1145 for an appointment. Se habla español.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
