Are there any assets that I cannot keep after filing for bankruptcy?

Yes, there are certain assets that you cannot keep after filing for bankruptcy in Florida. This is because the assets are either exempt from creditors or are subject to a repayment plan. For example, pensions, retirement accounts, and a portion of your home are exempt from creditors. This means that the assets are not subject to liquidation in order to pay off creditors. However, other assets such as luxury items, vehicles, and non-exempt property may be subject to liquidation in order to pay off creditors. Also, certain types of debt are not dischargeable in bankruptcy. This means that the debt still needs to be paid off, even after you file for bankruptcy. Examples of non-dischargeable debt in Florida include student loans, certain taxes, alimony, and child support. In summary, you should be aware of what assets and debts are considered exempt or non-dischargeable when contemplating filing for bankruptcy in Florida. This will help ensure that you do not lose any assets that you may have been counting on, and that you do not end up having to pay off more debt than you anticipated after filing for bankruptcy.

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