Can a Florida resident file for Chapter 7 bankruptcy?

Can a Florida resident file for Chapter 7 bankruptcy?

Some bankruptcy debtors who are Florida residents when they file for Chapter 7 bankruptcy are not entitled to Florida exemptions because they have not lived in Florida during the preceding two-year period.

How many bankruptcy districts are there in Florida?

Florida has three bankruptcy districts (Southern District, Middle District, and Northern District), and each of Florida’s counties is assigned to one of the three bankruptcy districts.

What happens if you file bankruptcy for the first time?

The court dismissed the first case: Unless the court orders otherwise, you can file again. A 180-day waiting period may apply if you failed to obey a court order or appear in the case, or you voluntarily dismissed the case after a creditor filed a motion for relief from the bankruptcy stay.

How does bankruptcy law affect the homestead exemption in Florida?

These homestead rules apply in state court collection proceedings. Bankruptcy law has no effect upon Florida’s unlimited homestead exemption in state court proceedings. But bankruptcy law is a federal law, and federal law may supersede state law in certain cases.

What happens to your credit when you file Chapter 7 bankruptcy?

Chapter 7 bankruptcy stays on your credit report for 10 years after the filing date. A completed Chapter 13 bankruptcy stays on your credit report for 7 years after the filing date, or 10 years if the case was not completed to discharge. As a result, filing bankruptcy will initially lower your credit score.

How many bankruptcy cases are filed in Tampa FL?

For June 2019, there were 852 new bankruptcy cases filed in Tampa alone. Medical bills are a significant factor in the number of bankruptcy cases filed. A study by the American Journal of Medicine found that 62.1% of all bankruptcy cases are attributable to medical reasons.

What do you need to know about bankruptcy in Florida?

The primary issue that new Florida residents will encounter when filing for bankruptcy in Florida is the issue of exemptions. Exemptions refer to the property or assets that a debtor can keep—they are exempt from the bankruptcy calculations and proceedings—when she or he files for bankruptcy.

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