Say goodbye to Florida’s $1000 vehicle exemption and hello to Floroda’s $5000 vehicle exemption as of July 1, 2024!  

Florida Governor Signs Bill Increasing Motor Vehicle Exemption in Bankruptcy

Fort Lauderdale, FL – A significant milestone was marked for individuals navigating bankruptcy in Florida as Governor Ron DeSantis signed SB158 into law on Friday, April 26, 2024. This state legislative victory substantially raises the value of motor vehicles owned by individuals in bankruptcy, providing crucial relief to countless families across the state.

SB158 elevates the motor vehicle exemption from $1,000 to $5,000, effectively enabling more individuals to retain their cars during bankruptcy proceedings. Previously one of the lowest in the nation, this increase promises tangible benefits for Floridians facing financial hardships.

Sherry Ellis