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West Palm Beach Chapter 7 Bankruptcy Lawyers

Serving West Palm Beach, Wellington, Jupiter, Boynton Beach and throughout Florida


Debt can be overwhelming, and many Florida residents owe so much money that they worry they will never be free of the debts they owe. When you are dealing with a significant amount of debt, an experienced Florida bankruptcy lawyer can help you to determine whether filing a Chapter 7 bankruptcy is right for you. Filing for bankruptcy can be a very stressful experience, and navigating the Florida means test and bankruptcy law in general can be very complicated. You will need experienced legal counsel on your side, and the dedicated bankruptcy attorneys at Kelley & Fulton, P.L. can help.


Filing for a Chapter 7 Bankruptcy

Chapter 7 bankruptcy is one of the most common types of bankruptcy, and it’s the type of bankruptcy that most people think about when they are considering filing. Unlike a Chapter 13 bankruptcy, a typical Chapter 7 bankruptcy will clear your debts and result in asset liquidation. This means that the court will forgive all of your debts and will take any assets that aren’t exempt.


There are certain debts that usually cannot be discharged in bankruptcy, such as student loans, alimony, child support, and other debts. A Florida bankruptcy attorney at Kelley & Fulton, P.L. can take a look at your finances and discuss which debts are likely to be discharged through bankruptcy.


Florida Bankruptcy Exemptions

What assets are exempt in the state of Florida? Under Chapter 222 of the Florida Statutes and the Florida Constitution, your home and certain other types of property are exempt in a bankruptcy proceeding. Commonly used exemptions include but are not limited to:


Homestead exemption: Florida has a very generous homestead exemption, and you should be able to keep your home during bankruptcy. In our state, as long as your property isn’t any larger than one-half acre within a municipality or any larger than 160 acres outside a municipality, you can exempt any home value. However, in order to take advantage of this generous homestead exemption, you must have owned the property for several years before you can claim the full amount of the homestead exemption. Otherwise, you will only be permitted a certain amount for the homestead exemption.


Personal property exemption: personal property up to $1,000 may be exempt from bankruptcy liquidation, and this can include such items as furniture, clothes, and other belongings.


Motor vehicle exemption: up to $1,000 in equity in your motor vehicle may be exempt during bankruptcy.


Wage exemption: a head of household in Florida can exempt up to $750 each week. Other family earnings may be protected through other means. Certain pensions are also exempt, and an experienced Florida bankruptcy attorney can discuss your options with you.


Other exemptions: a number of other exemptions exist under Florida law, including exemptions for tuition program, educational savings accounts, hurricane savings accounts, and medical savings accounts. One of our attorneys can examine your situation today and discuss your likely exemptions with you.


Contact a West Palm Beach Bankruptcy Lawyer

If you are considering a Chapter 7 bankruptcy, you will need to have one of our experienced Florida bankruptcy attorneys on your side. At Kelley & Fulton, P.L., we have been assisting Florida residents with bankruptcies for years, and we can evaluate your case today. Contact us to learn more.