Legal Question in Bankruptcy in Florida

URGENT HELP REQUESTED: Question regarding Florida Bankruptcy Chapter 7 and a vehicle. I need to be very clear on something.

A woman totaled my car this week. Her insurance company has paid me $6,295. I owned the car free and clear. My mother and father have gifted me an additional $2,000. (I planned on using $1,000 of the gifted money to pay attorney her fee). Florida bankruptcy law states I have a $1,000 exemption. I have not yet filed bankruptcy, I WAS going to see the attorney Monday to start the process. It has been suggested, that due to the car situation I wait a while to file. I was told by someone that it would be a little while before any of my credit card issuers would take legal action against me. (The first of this month is the first time I have ever been late with payments).

So, is it correct that when I buy a car, that in order to not have the trustee order me to sell my car, (when I do actually file), that I can not pay more than what the car is worth? For example, I need to buy a car that is valued at no more than $7,295? Does this mean I have a window of up to $8,295 total value?

Do I have this correct?


Asked on 8/10/19, 6:52 am

3 Answers from Attorneys
Donna Kay Kakonge

Please pay for the question and I would be more than happy to help you.

Thank you.

Dr. Donna Kay Cindy Kakonge, BJ, MA, TESOL, LLB, EdD

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Answered on 8/10/19, 6:55 am
Donna Kay Kakonge

Hi Phoebe,

Did you try the link on this site again?

Thank you.

Dr. Donna Kay Cindy Kakonge, BJ, MA, TESOL, LLB, EdD

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Answered on 8/10/19, 7:59 am
DMD PA DMD Law, PA

You really need to see a bankruptcy attorney. No, you are not correct. That $1,000 includes all personal property, including phone, cash on hand, clothes, furniture, tv, dishes, etc. If you don't have equity in a car, then there is nothing to take away. However, if you lease your car, you don't have to surrender it, but affirm it. Same with any debt you owe. However, any gift is cash and needs to go into your schedules that you file. Again, you need to see a bankruptcy attorney to help you with this and give you the proper information. All cases are different. I'm really not sure why you are asking here if you are planning on seeing an attorney. They will explain all of this to you.

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Answered on 8/15/19, 9:19 am


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