Can I save my home and other assets by filing under Chapter 13?

Video Transcription

A Chapter 13 protects all assets. The home for instance, because of Florida’s home set exemption, is going to be protected anyway in a 7 or a 13. But Chapter 13 affords extra protection that chapter seven does not. So if an individual has assets that would be what we call non exempt or unprotected in a chapter seven scenario it may be advantageous for the person to file Chapter 13 where all assets are protected no matter what the value, no matter what they are.