One of the biggest concerns people have when considering bankruptcy is whether they’ll lose their home.
For Florida homeowners, the Homestead Exemption provides powerful protection that can help you keep your home even while discharging or reorganizing debt.
At Parker & DuFresne, we guide our clients through this important protection every day. Let’s break down how Florida’s homestead exemption works and why having an experienced bankruptcy attorney on your side makes all the difference.
The homestead exemption is a legal protection in Florida’s Constitution that shields a homeowner’s primary residence from most creditors.
Unlike many other states, Florida’s exemption is one of the most generous in the nation.
In simple terms, it means that if you file for Chapter 7 or Chapter 13 bankruptcy, creditors cannot force the sale of your primary residence to satisfy debts—as long as you meet certain requirements.
To qualify for Florida’s homestead exemption in bankruptcy:
Chapter 7 Bankruptcy – If you qualify for the homestead exemption, your home is protected from liquidation. This means you can eliminate unsecured debts like credit cards or medical bills while keeping your house.
Chapter 13 Bankruptcy – The exemption helps reduce how much you must repay to unsecured creditors, making your repayment plan more affordable.
In both cases, you’ll still need to stay current on your mortgage payments and property taxes. The homestead exemption protects against unsecured creditors, not against foreclosure if you fall behind on your mortgage.
Florida’s homestead exemption is powerful, but it’s also complex. Small mistakes—such as misunderstandings about residency requirements, acreage limits, or timing—can put your home at risk.
At Parker & DuFresne, we understand how to strategically use Florida’s bankruptcy exemptions to protect what matters most. We’ll evaluate your unique financial situation, ensure your home qualifies for the exemption, and guide you through every step of the bankruptcy process.
Filing for bankruptcy doesn’t have to mean losing your home. Thanks to Florida’s strong homestead protections, many homeowners can eliminate debt and start fresh without giving up their most valuable asset.
If you’re worried about your home and considering bankruptcy, call Parker & DuFresne today.
Our experienced Jacksonville bankruptcy attorneys will help you protect your rights and secure a brighter financial future.
Dealing with bankruptcy doesn’t have to be a single-person job. The bankruptcy lawyers at Parker & DuFresne will help you determine the best course of action to help you get out from under your debt and move forward to a debt-free future.
Call today at 904-733-7766 for a free consultation, or click the button at the top of the page to schedule online.
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