Home Equity And Bankruptcy

Summary

The Florida homestead exemption may protect your home equity in Chapter 7 bankruptcy. However, cashing out this equity before filing could be seen as fraudulent. Consult a bankruptcy attorney for specific advice on your situation.

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I have business credit cards that were personally guaranteed, and I cannot pay for them anymore. I am therefore thinking of filing for personal bankruptcy chapter *. My question is: if I were to cash out on some of the equity of my house and then file for bankruptcy afterward, is there any way to avoid the money I cashed out from my home equity being garnished?
Hello ****,
*. The Florida homestead exemption may protect your home equity from bankruptcy.
*. However, cashing out this equity before bankruptcy could be seen as fraudulent.
*. Consult a bankruptcy attorney for specific advice on your situation.