FLORIDA BANKRUPTCY LAW
Florida Bankruptcy: Attorneys, Statistics, Exemptions and Courts.
Florida Bankruptcy Statistics: In Florida, in 2009, 97,087 bankruptcies were filed. Business Bankruptcies accounted for 4,929 and Personal bankruptcies’ accounted for 92,158 or 94.92% of bankruptcies.
Florida State Bankruptcy Exemptions
The home, whether real property or a mobile home, is exempt up to ¼ acre in a municipality or 160 acres elsewhere. The spouse and children of a deceased homeowner are entitled to this exemption.
The following exemptions are unlimited.
The only limited exemption is the motor vehicle exemption, which is limited at $1000.
The following categories of insurance benefits are exempt when a debtor files for bankruptcy in Florida.
The federal pension exemptions (Erisa-qualified plains) are exempt when a debtor files for bankruptcy in Florida, even though, in general, the federal bankruptcy exemptions do not apply.
The following types of pensions are exempt.
The following individuals’ pensions and their survivors’ benefits are exempt.
The following public benefits are exempt when a debtor files for bankruptcy in Florida.
Tools of the trade: No
The wages of the head of the family are exempt in their entirety, paid or unpaid. Other wages are 100% exempt up to $500 a week. However, if the wages are deposited into a bank , they are exempt up to $500 a week for six month after depositing
Child support and alimony exemption is limited by what is necessary for support of the child or spouse in case of alimony.
Damages received by employees in hazardless occupations for injuries sustained at work are entirely exempt.
Wild card: Any personal property valued up to $1000 for a single person and $2000 for a married couple can be exempt when a debtor files for bankruptcy in Florida.
Federal Bankruptcy Exemptions: No
Florida Bankruptcy Courts: