Attorney Robert Schaller reviews Modern Bankruptcy Exemption for Cars in Florida

Individuals who file for bankruptcy in Florida are currently granted a vehicle exemption of $1,000 in equity. Recently, the Florida legislation passed legislation that increased the vehicle exemption from $1,000 to $5,000 in equity. However, that legislation was vetoed by Governor Ron DeSantis. Will a compromise be made? Will other states increase their vehicle exemptions? Time will tell.