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What are the exemption forms to be filed to protect our ONE car and personal property from creditors.
Anonymous11 views1 answers
The judgment is against both husband and wife. We have one 1995 old car worth $1800 under my husband's name. How likely would the creditor take the car?
I know about the Head of Family exemption to protect wages and Homestead but I am still confused about protecting the car and household goods. (appliances, furniture,..etc.) Nothing fancy or valuable at all. We have nothing except wages, one car and our primary home. Thank you for any advice in advance.
If you claim your home as a homestead in Florida, then you can only claim two exemptions related to the car.
The first is the exemption found in 222.25(1) which is a $1000.00 exemption, and the second is the personal property exemption found in Article X, Section (4)(a)(2) of the Florida constitution.
You say the car is worth $1800. Its a 20 year old car. Unless its a special classic car, it probably has no value to a creditor.
I would be more worried about wages and bank accounts.
I would heartily suggest that you contact a bankruptcy lawyer in your area to go over your entire financial picture here, and determine whether or not its advisable to just file for bankruptcy and discharge all of your debts.
