Legal Question in Bankruptcy in Florida

Property Retention

Please inform me as to what property must be surrendered and what property may be retained (e.g., house, car, TV, furniture, etc) when filing bankruptcy in Daytona Beach FL.

Also, what are the advantages and disadvantages of Chapters 7 and 13 for an individual?

Also, what are the typical legal fees associated with claiming bankruptcy in Florida?

Thank you


Asked on 1/15/99, 12:01 am

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

Re: Property Retention

Generally all non- exempt property must be surrendered to the Trustee in bankruptcy. There are however numerous exeptions allowed in Florida. To itemize them here would be overly long. Further, a personal consultation would be necessary to determine which of them would apply to you. Such a consultation would also aid in deciding which Chapter of the act is best for you.

Fees for a chapter 7 are about $1000.00 presuming no adversary actions are commenced. The fees for a Chapter 13 are about $2500.00. In addition there are the filing fees. Moreover, in a ch. 13, there would be Trustee fees amounting to 10% of the payments made through the plan. If can be of assistance call me at 305-940-8080.

Alexander M. Rosenfeld

Rosenfeld & Stein, P.A.

18260 NE 19 Ave


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Answered on 1/26/99, 7:43 pm


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