In order to file for bankruptcy in south Florida you must fill out a bankruptcy petition where you list all of your assets and all of your debts. Your assets can include vehicles, bank accounts, jewelry, furniture or any other personal possessions. Your health savings account (HSA) is considered an asset as well. When you file for chapter 7 bankruptcy in Florida you list all of your assets and you must exempt the assets in order to protect them.
Exempting an asset basically tells the court that you cannot take this asset to sell and use the money to pay for my debts. Under Florida law any health savings account can be fully exempted which means that the entire account is protected in a bankruptcy filing.
If you are thinking of filing for bankruptcy in South Florida and would like to speak to a bankruptcy lawyer to determine if bankruptcy is right for you, then please contact Shmucher Law, PL. We offer free consultations in offices in Boca Raton, Fort Lauderdale, Miami, Plantation, and Sunrise Florida.