How to File for Bankruptcy without Losing Your Assets: How an Attorney Helps You Use Florida Bankruptcy Exemptions

florida bankruptcy exemptionsIf you’re considering filing for bankruptcy, it’s important to know that you can still keep your most important assets. The key is to properly utilize Florida bankruptcy exemptions.

When you file for bankruptcy, your assets may be at risk. This is because the bankruptcy court will consider all of your assets when determining whether or not to discharge your debts. If you have significant assets, the court may require you to sell them to pay off your creditors.


Every state has different laws regarding what assets are exempt from bankruptcy proceedings. Make sure you research the exemptions in your state so you can keep your most important assets.

However, some types of assets are exempt from the bankruptcy process. This means that you will be able to keep these assets even if you file for bankruptcy. Exempt assets typically include things like your primary residence, your vehicle, and certain types of retirement accounts. You can view the most commonly exempted assets here.

It’s important to keep in mind that even if your assets are exempt from the bankruptcy process, they may still be at risk if you have cosigners on any of your debts. This is because the cosigners will be responsible for repaying the debt if you are unable to do so.

Reaffirm Debt

If you have a mortgage or car loan, you may be able to keep your home or vehicle by reaffirming the debt. This means you agree to continue making payments on the loan even after you file for bankruptcy.

When you reaffirm a debt in bankruptcy, you are essentially agreeing to continue paying off the debt even after your bankruptcy case has been discharged. This means that the debt will not be wiped out like most other debts in bankruptcy.

There are a few reasons why you might want to reaffirm a debt. For example, if you have a car loan and you want to keep your car, you will need to reaffirm the debt to do so. Or, if you have a mortgage and you want to keep your home, you will need to reaffirm the debt to do so.

Reaffirming a debt is not required in bankruptcy. You can choose to reaffirm a debt if you want to, but you are not required to do so.

If you do decide to reaffirm a debt, you will need to sign a new contract with the lender. This new contract will replace your old contract and will state that you are still responsible for the debt. You will also need to continue making payments on the debt.

If you reaffirm a debt, you are still responsible for paying the debt. This is true even if you later decide that you do not want to keep the asset. Therefore, it is important to be sure that you really want to reaffirm the debt before you do so.

If you have any questions about reaffirming a debt in bankruptcy, you should speak to an experienced bankruptcy attorney.

Work with an Attorney

A bankruptcy attorney can help you protect your assets by ensuring that your bankruptcy petition is filed correctly and that all of your debts are properly listed. Your attorney can also help you negotiate with your creditors to try to reach a repayment plan that works for both parties. In some cases, your attorney may even be able to get some of your debts discharged completely.

If you are considering filing for bankruptcy, it is important to speak with a bankruptcy attorney to discuss your options and to ensure that you are taking the best possible course of action for your individual situation. Bankruptcy can be a complex process, and an experienced attorney can help you navigate the process and protect your assets.

To learn more about protecting your assets using Florida’s bankruptcy exemptions, contact the Law Offices of Robert M. Geller at 813-254-5696 to schedule a free consultation.


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