Florida has very broad exemption laws. What this means is that when you file bankruptcy, you can keep many assets. That would include your homestead if you live there and if you do not have a homestead and you rent, you have $4,000 worth of miscellaneous properties you can keep. You can also exempt $1,000 of other property and $1,000 of equity and any one motor vehicle. If you on social security or you have retirement benefits, those are also exempt and you keep those.