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{"id":10802,"date":"2013-04-26T08:36:24","date_gmt":"2013-04-26T08:36:24","guid":{"rendered":"http:\/\/www.seonewswire.net\/2013\/04\/florida-bankruptcy-exemptions-protect-your-most-crucial-assets\/"},"modified":"2013-04-26T08:36:24","modified_gmt":"2013-04-26T08:36:24","slug":"florida-bankruptcy-exemptions-protect-your-most-crucial-assets","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2013\/04\/florida-bankruptcy-exemptions-protect-your-most-crucial-assets\/","title":{"rendered":"Florida Bankruptcy Exemptions Protect Your Most Crucial Assets"},"content":{"rendered":"

Bankruptcy allows an individual or business overwhelmed by debt to get a fresh start by discharging most debt or allowing a manageable plan and time frame for repayment.<\/p>\n

The cost of bankruptcy is that some of your assets may be taken or liquidated to pay your creditors. If bankruptcy meant losing everything, it would be nearly impossible to move forward after filing. The bankruptcy code therefore allows certain property exemptions for basic assets and possessions that cannot be used to pay creditors.<\/p>\n

The federal bankruptcy code at one time did not define exemptions, and exemptions depended entirely on state law. Currently, federal law defines exemptions, but allows states to opt out and create their own statutes concerning exemptions. Florida is one state that does so. States are also permitted to decide whether debtors may choose between the federal or state bankruptcy scheme. Florida debtors must use Florida’s exemptions, which are quite favorable.<\/p>\n

In order (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bankruptcy allows an individual or business overwhelmed by debt to get a fresh start by discharging most debt or allowing a manageable plan and time frame for repayment. The cost of bankruptcy is that some of your assets may be…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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