Sunday, April 24, 2005

For Your Entertainment Only

Watch as I read something and, in disgust, proceed to throw my glass of Coke against the wall:

"Another Florida Court Strengthens Homestead Protection"

Of course Florida loves this. If you're a multimillion-dollar-asset family looking to somehow stiff your creditors, hey, come to the Sunshine State. Buy a McMansion in one of our gated communities. Heck, buy a gated community.

Looking for a second house? Third house? Want to dodge those annoying liens and judgements slapped on you in your primary state of residence? Then look no further — Live in Florida.

Florida: "If you've got the bucks, we've got the exemption."

— Posted by Michael @ 3:01 PM


I know people in FL who have done this. File bankruptcy, keep house, keep car. The state wipes all debts, so what if your credit sucks for a few years? They got a credit card within 2 years or so.



Hey Michael,
I just have to say I love the site and enjoy reading your blog. I am working on getting myself away from the edge financially and the information here is a great resource. I read a very interesting article in the May issue of Money magazine that made me think of you when I read it. It was entitled "The Blowout." Basically, it was about a Texas couple with something like $120,000 in debt, NOT including their $210,000 mortgage who decided to finance their $30,000+ wedding on their credit cards. I nearly had a conniption reading it.
Perhaps I have no room to judge, having never been married and not planning a wedding anytime in the foreseeable future. But isn't this kind of insane? Can I see the article of their bitter divorce in 5 years and read the quotes from the groom about how "worth it" it was? I would love to hear your thoughts on this and I would give you the link to this article but you have to be a Money subscriber to view it online. Thanks for all your great insights.


Thanks, Becky!

I am a MONEY subscriber, but I haven't made my way through the May issue yet. The article you mention sounds like it's right down my alley, though.

Dark alley, at that.

I love reading about the trials and tribulations of idiots.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
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Savings Goal: $15,000
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