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If your situation has gone beyond that of debt and turned into something more serious, like a judgment, chances are you’re wondering what, if anything, can be seized. In Florida, failure to make good on debt can result in a judgment against you, garnishment and seizure of property. However, there are steps you can take to prevent your most important assets from being taken.

For most people, their home is their single most valuable asset. Many times there is still a lien or mortgage on the home, essentially making them part owners. In cases where money is still owed on the home, it can be taken by the lien or mortgage holders to settle debt. With the help of a debt collection attorney, the seizure of your home can be prevented by filing an exemption, keeping your home safe from collection efforts.

Personal property can also sometimes be seized as a way to settle debt. This too can be prevented by filing an exemption. The same basic rules apply, if there is money owed on the property, it is up for grabs, and an exemption must be filed to keep the property safe. Of course, there are limitations on these exemptions. Exemptions cover property up to a certain valuation per person. This means that if you still owe money for most of your personal property, you may only be able to keep a portion of it protected from seizure.

For help with an impending judgment or to begin the process of exempting property from seizure, a skilled debt collection attorney should be contacted. With their help, you can avoid losing everything and limit the damage a judgment can cause.