Legal Question in Bankruptcy in Florida

Re: Bankruptcy & judgement liens

In a manner of speaking, yes.

Re: Bankruptcy & judgement liens

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Generally speaking, yes. In a Chapter 7 bankruptcy filing, a debtor is allowed to keep up to $1,000.00 of possessions and property plus an additional $1,000.00 in the value of an automobile. Currently, under Florida law, your homestead is also exempt from claims of creditors.

All unsecured debts are more or less stricken by the Court upon the completion of the bankruptcy. In return, you surrender all other property to the court appointed Trustee who liquidates the same for the benefit of the creditors.

Scott R. Jay, Esq., 305-249-8000