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Florida Bankruptcy Exemptions: Protecting Your Property in Bankruptcy

Filing for Bankruptcy can be a difficult decision, but it can also provide individuals with a fresh start by discharging their debts and giving them the opportunity to start over financially. However, when filing for bankruptcy, individuals may be concerned about losing their property, including their home, car, and personal belongings.

That’s where Florida bankruptcy exemptions come in. Bankruptcy exemptions are laws that allow individuals to protect certain types of property from being sold to pay their creditors in a bankruptcy case. Florida has its own set of bankruptcy exemptions that are separate from the federal exemptions.

What are Florida Bankruptcy Exemptions?

Florida bankruptcy exemptions are laws that protect certain types of property from being sold to pay creditors in a bankruptcy case. These exemptions vary depending on the type of bankruptcy being filed and the type of property being protected. Some of the most common exemptions in Florida include:

  • Homestead Exemption: This exemption protects a person's primary residence from being sold to pay creditors. In Florida, the homestead exemption is unlimited in value, meaning that individuals can protect the full value of their home.
  • Personal Property Exemption: This exemption protects personal property, such as household goods, clothing, and jewelry, from being sold to pay creditors. In Florida, the personal property exemption is capped at $1,000 per item and $4,000 in total.
  • Motor Vehicle Exemption: This exemption protects a person's vehicle from being sold to pay creditors. In Florida, the motor vehicle exemption is capped at $1,000 in value.
  • Wildcard Exemption: This exemption allows individuals to protect any property, including cash, that is not covered by another exemption. In Florida, the wildcard exemption is capped at $4,000.

It is important to note that individuals can only use Florida bankruptcy exemptions if they have lived in Florida for at least 730 days before filing for bankruptcy. If they have lived in another state within the past 730 days, they may be required to use the exemptions of that state.


Florida bankruptcy exemptions can provide individuals with the peace of mind that they need when filing for bankruptcy by protecting their property from being sold to pay their creditors. Understanding the different exemptions available and how they apply to an individual's specific situation is important and should be discussed with a bankruptcy attorney. By taking advantage of the Florida bankruptcy exemptions, individuals can protect their assets and get a fresh start on their financial future.

Bowin Law Group

Brevard’s Hometown Law Group

Categories: Bankruptcy
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