When you file bankruptcy in Florida, you use Florida’s exemption laws rather than the federal list, because Florida opted out of the federal exemptions (Fla. Stat. 222.20). The most important protections are the homestead exemption, which protects your primary residence without a dollar limit subject to acreage and timing rules (Fla. Const. Art. X, Sec. 4), up to $5,000 of equity in one motor vehicle (Fla. Stat. 222.25(1)), $1,000 of personal property (Fla. Const. Art. X, Sec. 4), and a $4,000 wildcard for filers who do not use the homestead exemption (Fla. Stat. 222.25(4)). Wages for a head of family, retirement accounts, and most government benefits are also protected. Most people who file bankruptcy in Florida keep everything they own.
The single biggest fear people bring to a bankruptcy consultation is losing what they have. The good news is that bankruptcy was never designed to leave you with nothing. Exemption laws exist so you can get out from under your debt while keeping the property you need to live and work. Florida’s exemptions are among the more protective in the country, especially for homeowners. This guide explains what exemptions are, which ones apply in Florida, and how they work in Chapter 7 bankruptcy and Chapter 13 bankruptcy.
When you file bankruptcy, everything you own becomes part of a legal estate. Exemptions are the laws that pull property back out of that estate and place it beyond the reach of the trustee and your creditors. Exempt property is yours to keep. Property that is not covered by an exemption is called non exempt, and how it is handled depends on which chapter you file.
Federal bankruptcy law contains its own list of exemptions, but it also lets each state require its residents to use state exemptions instead (11 U.S.C. 522(b)). Florida made that choice. If you have lived in Florida long enough to use its exemptions, the Florida list is the one that applies to your case.
Residency matters. To use Florida’s exemptions, you generally must have lived in Florida for the 730 days before you file (11 U.S.C. 522(b)(3)(A)). If you moved to Florida more recently, a different state’s exemptions may apply to your case, which is one of many reasons a careful review before filing is so valuable.
Florida’s homestead exemption is one of the strongest home protections in the nation. It protects the equity in your primary residence without a dollar limit, as long as the property does not exceed half an acre inside a municipality or 160 acres outside one (Fla. Const. Art. X, Sec. 4). Whether your home has $20,000 of equity or $400,000, the exemption can protect it.
Two timing rules deserve attention. First, federal law can cap the homestead protection if you acquired your home within the 1,215 days before filing (11 U.S.C. 522(p)). Second, the 730 day Florida residency rule described above must be satisfied to use Florida exemptions at all. For a full walkthrough of how the homestead exemption works in practice, see our guide on whether you will lose your house if you file bankruptcy in Florida.
Florida protects up to $5,000 of equity in one motor vehicle (Fla. Stat. 222.25(1)). This amount increased from $1,000 to $5,000 for cases governed by the law that took effect July 1, 2024. Equity means the vehicle’s value minus what you still owe on it, so a financed car often has far less equity than its sticker value suggests. Married couples filing together can each claim the exemption. Our article on what happens to your car in a Florida bankruptcy covers vehicles in depth, including your options when a car loan is involved.
Florida gives every filer a $1,000 exemption for personal property such as furniture, electronics, and clothing (Fla. Const. Art. X, Sec. 4). That number sounds small, but remember that exemptions apply to what your belongings would sell for used, not what you paid for them. Everyday household items usually have modest resale value.
Filers who do not claim or receive the benefit of the homestead exemption get a powerful addition: a $4,000 wildcard exemption that can protect almost any personal property (Fla. Stat. 222.25(4)). Renters and filers who are surrendering a home commonly use the wildcard to protect extra vehicle equity, bank balances, or household goods. In a joint case, each spouse can claim their own wildcard.
If you qualify as a head of family, your earnings are strongly protected. Disposable earnings of $750 or less per week are fully exempt (Fla. Stat. 222.11), and protections extend to recent wages traceable into a bank account.
Tax exempt retirement accounts such as 401(k)s, 403(b)s, and pensions are protected (Fla. Stat. 222.21 and 11 U.S.C. 522(b)(3)(C)). Traditional and Roth IRAs are protected up to $1,711,975 per person for cases filed between April 1, 2025 and March 31, 2028 (11 U.S.C. 522(n)).
Social Security, veterans benefits, unemployment compensation, and workers compensation are exempt (Fla. Stat. 222.201, 443.052, 440.22). Child support and alimony you receive are protected to the extent reasonably necessary for your support.
The cash surrender value of life insurance and the proceeds of annuity contracts are protected (Fla. Stat. 222.13 and 222.14), along with prepaid college, health savings, and hurricane savings accounts (Fla. Stat. 222.22).
Exemptions matter in both chapters, but they operate differently. In Chapter 7, the trustee can sell non exempt property to pay creditors. Because Florida’s exemptions are broad and most household property has limited resale value, the large majority of Chapter 7 cases are no asset cases where the filer keeps everything. In Chapter 13, you keep your property regardless, but the value of any non exempt property sets a floor for what your repayment plan must pay unsecured creditors. Either way, exemptions shape the outcome of your case, and qualifying for Chapter 7 in the first place depends on the means test.
Exemptions are not automatic. They must be claimed correctly on your bankruptcy schedules, with accurate values, and applied in the combination that protects the most for your situation. Choosing between the homestead and the wildcard, valuing property realistically, and timing your filing can each change what you keep. Mistakes in this area are among the most costly a filer can make, and they are also among the most avoidable. Understanding what bankruptcy costs in Florida helps put the value of experienced guidance in perspective.
The attorneys at Parker & DuFresne have helped North Florida families protect their homes, vehicles, and savings through bankruptcy since 1994. We review your full financial picture, apply Florida’s exemptions to your specific property, and explain exactly what you can expect to keep before you file anything. Consultations are free.
Call (904) 606-9069 to schedule your free consultation.
Bankruptcy exemptions are laws that protect certain property from being taken to pay creditors when you file bankruptcy. Exempt property stays with you. In Florida, most exemptions come from the Florida Constitution and Chapter 222 of the Florida Statutes, and they apply in both Chapter 7 and Chapter 13 cases.
No. Florida opted out of the federal exemption list, so filers who qualify to use Florida exemptions must use them (Fla. Stat. 222.20). Certain federal protections still apply alongside Florida law, such as the federal rules protecting tax exempt retirement accounts.
Federal law generally requires that you have lived in Florida for the 730 days before filing to use Florida’s exemptions (11 U.S.C. 522(b)(3)(A)). If you moved more recently, the exemptions of your prior state may apply instead, which can significantly change what is protected.
Florida’s homestead exemption protects the equity in your primary residence without a dollar limit, provided the property is within half an acre inside a municipality or 160 acres outside one (Fla. Const. Art. X, Sec. 4). A federal cap can apply if you acquired the home within the 1,215 days before filing (11 U.S.C. 522(p)).
Florida protects up to $5,000 of equity in one motor vehicle (Fla. Stat. 222.25(1)). Equity is the vehicle’s value minus the loan balance, so many financed vehicles fall entirely within the exemption. Married couples filing jointly can each claim the exemption, and filers not using the homestead exemption can add the wildcard to protect more.
The wildcard is a $4,000 exemption for any personal property, available only to filers who do not claim or receive the benefit of the homestead exemption (Fla. Stat. 222.25(4)). Renters commonly use it to protect bank balances, extra vehicle equity, or household goods beyond the $1,000 constitutional personal property exemption.
Almost always. Tax exempt retirement accounts such as 401(k)s, 403(b)s, and pensions are protected under Florida and federal law (Fla. Stat. 222.21 and 11 U.S.C. 522(b)(3)(C)). Traditional and Roth IRAs are protected up to $1,711,975 per person for cases filed between April 1, 2025 and March 31, 2028 (11 U.S.C. 522(n)).
Florida strongly protects the wages of a head of family. Disposable earnings of $750 or less per week are fully exempt, and higher earnings cannot be garnished without written consent (Fla. Stat. 222.11). Protection can extend to wages deposited into a bank account within the previous six months.
It depends on the chapter. In Chapter 7, the trustee may sell non exempt property to pay creditors, though filers sometimes have options such as paying the trustee the non exempt value to keep an item. In Chapter 13, you keep your property, and the non exempt value instead sets a minimum amount your repayment plan must pay unsecured creditors.
No. Because Florida’s exemptions are broad and used household property has limited resale value, most Chapter 7 cases in Florida are no asset cases where the filer keeps everything. Careful exemption planning before filing is the key to making sure your case ends up in that category.
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