Panama City, FL asked in Collections, Real Estate Law and Bankruptcy for Florida

Q: I got sent to court for non payment of timeshare then negotiated for payment plan but was unable to pay that either

Now they are taking me back to court is there any way to protect my assets so they don’t put a lien on my primary residence

2 Lawyer Answers
Jane Kim
Jane Kim pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Naples, FL
  • Licensed in Florida

A: Hiding assets to avoid creditors is illegal. However, if your primary residence in Florida has a homestead exemption then Article X, Section 4 of the Florida Constitution exempts homestead property from levy and execution by judgment creditors. This means a creditor cannot force the sale of your home to satisfy a judgment. Such homestead protections do not apply to creditors whose debt arises out of your primary residence like your mortgage company or a contractor who worked on your home.

Good luck.

Charles M. Baron agrees with this answer

1 user found this answer helpful

Charles M.  Baron
Charles M. Baron
  • Consumer Law Lawyer
  • Hollywood, FL
  • Licensed in Florida

A: To add to Ms. Kim's answer, though a creditor cannot take or force a sale of your homestead residence, the judgment lien would potentially be a problem if you sell your home in the future. You say you are unable to pay, which I assume means you cannot afford to pay. You therefore may be eligible for a bankruptcy which could get rid of the debt, and demonstrating to the creditor that you are ready to file for bankruptcy might get them back to the negotiating table. A bankruptcy attorney in your area can advise you about that as well as about what, if any, assets are at risk.

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