Florida STATE LAW

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

tape recording

– Two party state

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:

– Veteran's benefits, unlimited amt [222.201 and 744.626]
– Worker's compensation, unlimited amount [440.22]
– Crime victim's 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]