What Property Do I Give Up in a Chapter 7 Bankruptcy?
In a Chapter 7 bankruptcy, a debtor's assets must be turned over to a court-appointed trustee. Certain assets are exempt under Florida law, including up to $1,000 of equity in a motor vehicle and a $4,000 "wildcard" exemption that may be used for any property if the debtor does not claim a homestead exemption for their residence. An experienced Orlando bankruptcy lawyer can advise you on all Florida exemptions and how they may benefit you. Tampa Couple Ordered to Turn Over Car Insurance Proceeds It is important to consult with a bankruptcy attorney before taking any actions that may affect your case. For example,...
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