Question 1

What property can I keep in a Florida Chapter 7 bankruptcy?

Accepted Answer

Florida offers some of the most generous bankruptcy exemptions in the country. The homestead exemption protects unlimited equity in your primary residence (subject to acreage limits — 1/2 acre within a municipality, 160 acres outside). Florida also exempts up to $1,000 in personal property, $1,000 in motor vehicle equity, all qualified retirement accounts, and certain wages. Florida residents use state exemptions rather than federal exemptions.

Question 2

Will I lose my house if I file Chapter 7 in Florida?

Accepted Answer

Most Florida homeowners do not lose their home in Chapter 7. Florida's homestead exemption protects unlimited equity in your primary residence as long as you remain current on your mortgage payments. To qualify for the full unlimited homestead exemption, you must have owned the home for at least 1,215 days prior to filing.

Question 3

How long does Chapter 7 bankruptcy take in Florida?

Accepted Answer

A standard no-asset Chapter 7 case in Florida typically takes 4 to 6 months from filing to discharge. Key milestones include the petition filing, the 341 meeting of creditors (held approximately 30-45 days after filing), and the discharge order (issued 60-90 days after the 341 meeting if no objections are raised).

Question 4

What is the means test for Chapter 7 bankruptcy?

Accepted Answer

The means test determines whether you qualify for Chapter 7 bankruptcy. It compares your household income to Florida's median income for a household of your size. If your income is below the median, you automatically qualify. If above, a more detailed calculation of disposable income determines eligibility. Florida median income thresholds are updated periodically by the U.S. Trustee.

Question 5

What debts are discharged in Chapter 7 bankruptcy?

Accepted Answer

Chapter 7 discharges most unsecured debts including credit card balances, medical bills, personal loans, utility bills, and most older tax debts. Non-dischargeable debts include most student loans, child support, alimony, recent tax debts, debts from fraud, and court-ordered restitution.

Question 6

How long does Chapter 7 stay on my credit report?

Accepted Answer

A Chapter 7 bankruptcy filing remains on your credit report for 10 years from the date of filing. However, many clients begin rebuilding credit within months of discharge through secured credit cards, on-time payments, and responsible credit use.

Question 7

Do I have to go to court for Chapter 7 bankruptcy?

Accepted Answer

Most Chapter 7 filers attend only one proceeding: the 341 meeting of creditors. This is not held in a courtroom and is not before a judge — it is a brief meeting with the bankruptcy trustee, typically lasting 5 to 10 minutes. Most clients never appear before a bankruptcy judge.