Assets Protected in Chapter 7 Bankruptcy

Answer:

I get the question once in a while, “What assets are protected in bankruptcy, in particular Chapter 7?” The answer is that certain assets are exempt. Every state has different laws about which assets are exempt and which are not. Typically, here in Florida, a person’s home is 100% exempt. They’re also entitled to a certain amount of equity in a motor vehicle or a value of personal items that they may own.

The best solution is to sit down for a free consultation so we can go over your finances carefully to determine which assets that you own would be fully protected or at least partially protected in a bankruptcy. It involves a very careful detailed analysis that we provide at every free consultation. We’ve been representing Chapter 7 clients throughout the state of Florida, and I am happy to help.