Bankruptcy Exemptions: What can I keep
Essential Basic Information About Florida Bankruptcy Exemptions
Many people in debt who could benefit greatly from a personal bankruptcy filing are held back by the false belief that they will have to give up all their property and start over with nothing. In reality, substantial personal property is covered by specific bankruptcy exemptions — meaning that you can keep it even after you file.
It is absolutely understandable that you would worry about your ability to stay in your home, keep a car for essential transportation and protect other assets after your bankruptcy filing. At McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A., we emphasize education, analysis and planning that allows our clients to make fully informed decisions.
Understanding What Bankruptcy Exemptions Apply to You
We have more than a dozen attorneys at our offices in Tampa, Temple Terrace and Sarasota, several of whom are focused solely on bankruptcy law. You can depend on us to provide solid information and to answer all your questions about federal and Florida bankruptcy exceptions, which cover property and assets such as:
- A primary residence, with market value and equity not limited to specific amounts as they are in most other states
- A basic vehicle
- Most insurance policies and benefits, including Social Security
- Most tax-exempt retirement accounts such as 401(k) accounts, IRAs, profit-sharing plans and pensions — often regardless of their value
- Household goods and property such as furniture, clothing and other possessions within certain limits
For Specific Information on What You Can Keep, Schedule a Consultation
Only a skilled, informed bankruptcy lawyer can determine the best form of bankruptcy for your situation and find the most creative, effective solutions for protecting the property you value most. To discuss your asset protection goals and how they align with bankruptcy exemptions in Florida, call 813-899-6059 today and arrange a consultation.