Brandon Bankruptcy Options

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The federal court system assists those who are filling bankruptcy by helping them to get rid of their debt. A business or an individual can file bankruptcy and attempt to get rid of all their debt by going through the federal court system. Those who file this type of bankruptcy give up any property that they own and it is sold in order to pay off their debts. This is referred to as a liquidation of assets. In the state of Florida, certain bankruptcy exemptions laws exist that keep creditors from taking certain types of property during bankruptcy. Anyone who is contemplating filing for bankruptcy should be aware of these exemption laws. There are federal and state laws that provide bankruptcy candidates with helpful exemptions.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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