Legal Question in Bankruptcy in Florida

Mobile Home and Credit Card Debt

My Wife and I jointly own a mobile home and the property it sits on in Pinellas County Florida. There is no mortgage on the trailer or property and it's current resale value is approximately $40,000. However, we have credit card debts exceeding this amount. We each have an automobile, my Wife's car still has a large loan balance on it. We do not have any other assets such as stocks, bonds, insurance policies, etc. We both are on Social Security Disability. I have been doing legal research and it seems to me that we are almost judgement proof from the creditors right now. However, my Wife would like to sell our home and move to Ohio to be with her ailing Father. We are behind on most of the credit cards. My basic question is what would happen to the proceeds of the sale of our Florida trailer? Would we have to divide it up amongst the creditors or could we keep part or all of it?


Asked on 8/05/07, 9:20 pm

1 Answer from Attorneys
RP Hartley Hartley Law Firm, PLC

Re: Mobile Home and Credit Card Debt

If you qualify for Florida's homestead exemption , you can exempt the mobile home to protect it in bankruptcy, then sell the home AFTER a bankrupty "fresh start" and keep the proceeds of the home if sold AFTER bankruptcy. For details you may make a free appointment with Hartley Law Firm in Clearwater.

www.HelpHomeDebt.com

PS, your stocks or other assets may be a different problem and should also be considered.

R. Hartley, Esq.

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Answered on 8/06/07, 6:55 am


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