If your financial position is rapidly going from bad to worse, and, you can delay the filing for 6 months, you must consider moving to Florida. All equity in your house is safe in Florida. That's a strong beginning.
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So if you have a judgement, file for bk, then sell the house - they can't cloud the title? -
Actually, the equity exemption provision of the new BK law will come into effect when it is signed by the President. The new equity provision does not allow you to use your states Home Equity Exemption unless you could have claimed it 1250 days prior to your filing of BK. So assuming this thing gets signed into law by the end of the month, you can't benefit from Florida's exemption unless you lived there in November, 2001Comment
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Don't just pack up and move yet.
I don't know the fine print, but I know that with the new law, it is true, Florida will no longer be a safe haven. In fact, there was an articel about this in the Miami Herald recently (you can probably look for it on line) talking about how many doctors are considering leaving the state because malpractice insurance is insanely high here (in some cases 200G for a 250G policy) Up until now they all just practiced without insurance (many,many Fl DRs now go w/o malpractice ins) but they got around it by having most of their money in retirement accts and in huge homes figuring if they get sued they will just go chapter 7 and be fine because they can keep 100% in their homes. With that no longer being the case, they are going to head off for greener pastures.Comment
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