I Am New To Florida And Need To File Bankruptcy, Do I Qualify to Use Florida’s Bankruptcy Exemptions?
Potential clients come in my office all the time, who are recently transplanted to South Florida. Most have moved because of economic reasons to start a new job or to live with family and look for work. Some of them realize that they are not going to be able to dig themselves out of the hole debt put them in without help. They see bankruptcy as a way to help them start their lives over in Florida.
Which Bankruptcy Exemptions Are You Qualified to Use?
One of the big questions with potential clients like this is “How long have you lived in Florida?” This is important to know because it will determine if these clients can use Florida’s Bankruptcy Exemptions or if they are going to have to use their prior state’s exemptions or federal exemptions. The exemptions available to a potential bankruptcy filer are very important as they impact the course of their bankruptcy.
Qualifying for Florida’s Bankruptcy Exemptions
To qualify to use Florida’s Exemption, a potential bankruptcy filer must have been must be domiciled (Lived full time, paid taxes, voted, etc.) in Florida for at least 730 days prior to filing of their bankruptcy petition. If a potential bankruptcy filer has not been living in any one state continuously for the last two years prior to filing for bankruptcy the exemptions available for them will depend upon where they resided for the 180 days prior to the two year period before their filing for bankruptcy. That’s confusing! That is why it is important to consult with a bankruptcy attorney to make sure you utilize the correct exemptions when filing for bankruptcy.
Are you considering filing for bankruptcy?
If you are considering filing for bankruptcy, it is important that you speak with a bankruptcy attorney who can help you evaluate your potential homestead exemption and issues that may impact your exemption status in bankruptcy. Every bankruptcy case is different, so what has worked for one debtor may not necessarily work for another. If you are in Miami-Dade County or Broward County, Florida, please feel free to contact us to set up a FREE consultation to discuss your specific situation.
This blog post is made available for educational and informational purposes only and to promote a general understanding of the law, and not to provide specific legal advice. Use of this blog does not create an attorney-client relationship. Reading this post is not a substitute for obtaining legal advice based on the unique facts of your situation from an attorney licensed to practice law in your state. No representation is made regarding the current state of the information contained in this post. Examples that may be provided in this post are merely for illustrative purposes; the results in your case may be different and no results are guaranteed.