What are exempt assets?

Exempt assets in Florida are covered by Florida Statute, which means that those are the assets that you are able to retain when you file a bankruptcy. In Florida, generally, your homestead is completely exempt. If you do have a homestead, you can claim $1,000 of personal property and $1,000 of value of equity in a vehicle as exempt. If you don't have a homestead, you don't have a home, your exemption for personal property goes up to $4,000 for personal property, plus $1,000 for a vehicle.

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