Legal Question in Bankruptcy in Florida

Re: personal bankruptcy

your home may qualify for protection under the 'homestead Act'

Re: personal bankruptcy

Hello: I read your question & the two responses. If you need help in No. Fla., I handle these types of cases.

I would add, if you file a chapter 7, you keep your home so long as you are current with mtg. pymts. There is a cap on the max. amount of equity you can have to be able to file a chap.7. Just for clarification, under the old law, there was no cap on one's equity in one's homestead. Under new law, if your equity is over the amount (I need to look this up for confirmation, but I believe the max is $135,000.), you have to file a chap 13. This is so creditors can get some money during the three year plan.

'Hope this helps. Tom Rosenblum, Jacksonville.

Re: personal bankruptcy

It depends on whether you file for Chapter 13 or Chapter 7. Chapter 13 can be used to help stop a foreclosure proceeding against you.

You will be able to keep your home and car as long as you stay current on your payments. If you fall behind after your bankruptcy is discharged, the bank could reinstate foreclosure proceedings against you.