The way the Homestead Exemption Performs inside Florida A bankruptcy proceeding Bankruptcy proceeding Exempt assets, including the debtor's homestead and IRA, are not area of the case of bankruptcy house, and also the trustee try not to affect exempt property. An automatic stay are enforced quickly upon the newest filing of good Chapter 7 bankruptcy. The newest stay prohibits financial institutions off seeking suit up against the debtor and you will closes all of the creditor legal range services. The newest bankruptcy lawyer can document a suggestion out of Bankruptcy from inside the ongoing municipal litigation between the debtor. The Suggestion out-of Case of bankruptcy suspends all the such as lawsuits. Debtors have to offer their attorney with a duplicate of every lawsuits submitted up against them therefore, the lawyer may get ready a good Idea away from Case of bankruptcy. (más…)