Legal Question in Bankruptcy in Florida

Re: Two Questions

This answer is not legal advice but only a general discussion of legal subjects. Only when all facts are known can advice be accurately given.

First question, you must include all household income when calculating median income. The "current monthly income" received by the debtor is a defined term in the Bankruptcy Code and means the average monthly income received over the six calendar months before commencement of the bankruptcy case, including regular contributions to household expenses from non-debtors and including income from the debtor's spouse if the petition is a joint petition, but not including social security income or certain payments made because the debtor is the victim of certain crimes. 11 U.S.C. � 101(10A).

Second question, reaffirmation of a debt often allows the debtor to keep the asset. You are correct that Florida allows one vehicle per debtor and one thousand dollars ($1,000) equity. However, many factors must be taken into account. Equity in the vehicles and the ability to pay following the bankruptcy are just two.

You should contact an attorney to get a consultation; this is the only sure way to know how bankruptcy could help or hurt your situation.