Bankruptcy for Millionaires: Can I File Chapter 7 or 13 In Florida?

Bankruptcy for Millionaires: Can I File Chapter 7 or 13 In Florida?

True or false: if I make a lot of money or have a lot of assets, then I can’t file for Chapter 7 or Chapter 13 bankruptcy in the state of Florida.

False.

Don’t fall for that common myth about bankruptcy for millionaires. Even if you have a high net worth, you’re eligible to file for Chapter 7 or Chapter 13. In fact, bankruptcy is a smart solution for many savvy business people whose entrepreneurial ventures fail, or who don’t have enough capital to satisfy their business liabilities. The advantages of bankruptcy can also help employees forced to take early retirement from a well-paying job.         Continue Reading

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