Legal Question in Bankruptcy in Florida

What will we lose

My wife and I built and moved into our home in July 02. We are seriously overextended in credit card debt. If we file bankruptcy will we lose our new home?


Asked on 3/05/03, 9:03 pm

1 Answer from Attorneys
George Savage George S. Savage, P.A.

Re: What will we lose

If you are a resident of Florida and the home is your only residence in Florida, it would be considered your homestead and, under the Florida Constitution, is exempt from creditors. Therefore, you would not lose it in bankruptcy.

If you need any assistance with your bankruptcy, please contact my office.

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Answered on 3/06/03, 10:51 am


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