Exempt Property

Bankruptcy Property Exemptions

Southern Florida Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy allows you to eliminate your debts in exchange for the turnover of your non-exempt property. This notion of "non-exempt" property concerns many individuals who are contemplating bankruptcy. They believe that they will lose their homes, cars, and other personal possessions. Florida law, however, provides a number of exemptions that allow individuals to keep their property while eliminating their debt through bankruptcy.

At Kingcade & Garcia, P.A., we have extensive experience representing clients filing for Chapter 7 bankruptcy. We are familiar with the laws and can explain how they apply to your unique situation. Our practice focuses solely on helping individuals and families protect their personal property while getting a fresh start through bankruptcy. You deserve a debt-free life. Discover your options for a new beginning. Contact us today to arrange a free office consultation with a knowledgeable, caring bankruptcy attorney.

Florida is generally considered the best state in which to file for bankruptcy. The state allows many exemptions for property that other states do not. Florida has a homestead exemption that allows you to keep your house, regardless of its value, unless you have owned it for less than forty months, in which case the homestead exemption is limited to $125,000 per spouse. Additionally, there are unlimited exemptions on 401Ks and pension plans, Social Security benefits and Supplemental Security Income, prepaid tuition for your children's education, and workers' compensation benefits.

It is important to be aware, however, that bankruptcy does not discharge child support, student loans, drunk driving debts, and certain federal taxes.

The concept of exemption is to protect the family and a standard of living. You will not be made destitute by filing bankruptcy. The purpose is to brighten your future and not jeopardize it. The attorneys and staff at our law office are committed to serving clients in a culture of care. We understand that filing bankruptcy is a difficult choice, but ultimately, the overwhelming majority of our clients feel great relief after going through the process.

We offer free office consultations to individuals and families considering filing bankruptcy. You owe it to yourself to take advantage of the opportunity to discuss what this option means for you, your property, and your family with a knowledgeable, attentive, and experienced bankruptcy lawyer. Contact us today. We want to help you get back on your feet and move toward a better financial future.