WAGE GARNISHMENT EXEMPTION: Federal law applies [if head of household, 100% of wages are exempt) MAXIMUM INTEREST RATE: Legal: 10% Judgment: 10% or or contract rate (but not more than 18%) STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit cards): 4 years Written Contract: 5 years Domestic Judgment: 7 years (renewable) Foreign Judgment: 5 years BAD CHECK LAW DAMAGES: Amount owed plus treble (three times) damages, bank fees, reasonable attorney's fees, and court costs BANKRUPTCY PROPERTY EXEMPTIONS (Florida Statutes Annotated): Cannot claim federal exemptions, but can claim federal non-bankruptcy exemptions The State of Florida exempts the property below from liquidation by the bankruptcy court to pay creditors: Real Estate: Real property including mobile home used as residence, unlimited value, property cannot exceed 1/2 acre in municipality or 160 contiguous acres elsewhere; must file homestead exemption [Florida Constitution 10-4; 222.01, 222.02, 222.03 and 222.05] New bankruptcy law may limit real estate exemption Personal property: Health aids, unlimited amount and an automobile up to $1,000 [222.25] Insurance / Annuities: Annuity contract proceeds, unlimited amount [222.14]; death benefits payable to a specific beneficiary, not the deceased's estate, unlimited amount [222.13]; disability or illness benefits, unlimited amount [222.18]; fraternal society benefits, unlimited amount [632.619]; cash surrender value of life insurance, unlimited amount [222.14] Pensions / Retirement Plans: County officers and employees, unlimited amount [122.15]; retirement benefits, unlimited amount [222.21(2)]; state officers or employees, unlimited amount [121.131]; teachers, unlimited amount [238.15]; police officers, unlimited amount [185.25]; firefighters, unlimited amt [175.241]; highway patrol officers, unlimited amount [321.22]; federal employee pension payments, amount needed for support / received 3 or more months before filing bankruptcy [222.21] Public Benefits / Entitlements: Veterans' benefits, unlimited amt [222.201 and 744.626]; workers' compensation, unlimited amount [440.22]; crime victims' compensation (not for crime-related injury) [960.14]; public assistance, unlimited amt [222.201]; social security, unlimited amt [222.201]; unemployment compensation, unlimited amount [222.201 and 443.051(2)(3)] Wages: 100% of head of family's paid and unpaid wages up to $500 per week for head of family (deposited into bank account for up to six months) [222.11] Miscellaneous: Alimony and child support, amount needed for support [222.201]; business partnership property; unlimited amount [620.68]; damages to employees for injuries in hazardous occupations, unlimited amount [769.05] Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and save $200+ on monthly bills |
Debt > State Statutes > Florida |
Debt > State Statutes > Florida |
Debt and Bankruptcy Laws -- Florida |
WAGE GARNISHMENT EXEMPTION: Federal law applies [if head of household, 100% of wages are exempt) MAXIMUM INTEREST RATE: Legal: 10% Judgment: 10% or or contract rate (but not more than 18%) STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit cards): 4 years Written Contract: 5 years Domestic Judgment: 7 years (renewable) Foreign Judgment: 5 years BAD CHECK LAW DAMAGES: Amount owed plus treble (three times) damages, bank fees, reasonable attorney's fees, and court costs BANKRUPTCY PROPERTY EXEMPTIONS (Florida Statutes Annotated): Cannot claim federal exemptions, but can claim federal non-bankruptcy exemptions The State of Florida exempts the property below from liquidation by the bankruptcy court to pay creditors: Real Estate: Real property including mobile home used as residence, unlimited value, property cannot exceed 1/2 acre in municipality or 160 contiguous acres elsewhere; must file homestead exemption [Florida Constitution 10-4; 222.01, 222.02, 222.03 and 222.05] New bankruptcy law may limit real estate exemption Personal property: Health aids, unlimited amount and an automobile up to $1,000 [222.25] Insurance / Annuities: Annuity contract proceeds, unlimited amount [222.14]; death benefits payable to a specific beneficiary, not the deceased's estate, unlimited amount [222.13]; disability or illness benefits, unlimited amount [222.18]; fraternal society benefits, unlimited amount [632.619]; cash surrender value of life insurance, unlimited amount [222.14] Pensions / Retirement Plans: County officers and employees, unlimited amount [122.15]; retirement benefits, unlimited amount [222.21(2)]; state officers or employees, unlimited amount [121.131]; teachers, unlimited amount [238.15]; police officers, unlimited amount [185.25]; firefighters, unlimited amt [175.241]; highway patrol officers, unlimited amount [321.22]; federal employee pension payments, amount needed for support / received 3 or more months before filing bankruptcy [222.21] Public Benefits / Entitlements: Veterans' benefits, unlimited amt [222.201 and 744.626]; workers' compensation, unlimited amount [440.22]; crime victims' compensation (not for crime-related injury) [960.14]; public assistance, unlimited amt [222.201]; social security, unlimited amt [222.201]; unemployment compensation, unlimited amount [222.201 and 443.051(2)(3)] Wages: 100% of head of family's paid and unpaid wages up to $500 per week for head of family (deposited into bank account for up to six months) [222.11] Miscellaneous: Alimony and child support, amount needed for support [222.201]; business partnership property; unlimited amount [620.68]; damages to employees for injuries in hazardous occupations, unlimited amount [769.05] Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and save $200+ on monthly bills |
