Seffner Bankruptcy Options

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Bankruptcy is the term replied when individuals or businesses get rid of all their debt with the help of the federal court system. In order to file this type of bankruptcy you must give up all of your property and sell it to pay off your debt. This process is called 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. Any individual who is thinking about filing for bankruptcy needs to know about these exemption laws. Filing bankruptcy is not an easy decision but both federal and Florida state laws provide 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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