Bankruptcy filers often fear losing everything they own when going through a Chapter 7 or Chapter 13 bankruptcy case. The good news is the U.S. Bankruptcy Code and Florida bankruptcy laws protect a great deal of a consumer’s assets and property, if used appropriately.
The State of Florida has some of the most generous bankruptcy exemptions in the country. For these exemptions to apply, the consumer must have lived in the state for at least two years before filing. Otherwise, federal exemptions apply.