So, you are trying to relieve yourself
of debt so you can move on with the rest of your life. You are also
putting off the bankruptcy because you heard from someone you will
loose your house you have so diligently been paying for over the
years, you should seek the advise of a competent bankruptcy attorney
that practices in the area in which you live.
I receive calls on a regular basis
asking if they are going to loose their home if they file bankruptcy.
In some cases, they are telling me they can not file because they do
not want to loose their home. If you are one of these people, don't
feel bad, as I even have other attorneys asking questions related to
this topic that seem to somehow be cloaked in a whirlwind of
misstatements.
The Answer: well, that depends on where you file, and the value of your home.
That is, unless you file in Florida, where the light shines (I know, cheesy right?).
This blog is directed towards debtors filing if Florida, as that is where I practice. As a general rule, if
you have homestead property in Florida, that is, real property that is
exempt from creditors claims pursuant to the Florida Constitution,
then you can claim a homestead exemption on Schedule C of your
bankruptcy, and keep you home.
So, what happens if you live in a mobile home? If you live in a mobile
home, and do not own the land under it, you may have to wait a couple
of years after moving to Florida in order to claim an exemption, as
this is a statutory rather than constitutional exemption that needs
to be claimed.
As a side note, if you are planning on
moving to another state, you should speak with bankruptcy attorneys
in both the state you are moving from, and the state you are moving
to, about where you should file bankruptcy. There may be significant
advantages in filing in one state over another. This should be done
well before moving, in order to arrange for proper planning.
You may wish to review some related
blogs, including
I read your blogs regularly. Your humoristic way is amusing, continue the good work! BLC Law Center
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