Legal Question in Bankruptcy in Florida

Property exemptions

My finances have become more than I will soon be able to handle. Over the past ten years my children and I have survived on SS death benefits and my part time work. I went back to college 2 yrs ago knowing that SS would end and I would have to become self sufficient. Unfortunately the job prospects are not looking too promising as far as becoming self supporting. I own a 50,000 condo that is paid for and a lease car with more than a year left on the lease. Everything else in my possession are furnishings and personal items with nothing having a value over $500. Will I be able to keep all the above if I file bankruptcy? Thank You


Asked on 5/20/99, 4:40 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Property exemptions

I presume you reside in Florida. Your Condo is exempt as your homestead. You are entitled to an additional $1000.00 personal property exemption. If you continue to make the lease payments, you may retain the car.

There are substantial considerations to be made before you file a petition. You should seek the assistance of counsel. Please call 305-940-8080 for an appointment.

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Answered on 5/26/99, 5:06 pm


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