Have you been paying into the Florida prepaid college program? With Florida prepaid, you can pay for you child's future tuition and most fees in affordable installments or a lump-sum payment including dormitories. If bankruptcy is in your future, you may be wondering if this money is going to be affected.
Money going into or being taken out of a Florida prepaid account is an asset but is not liable to attachment, levy, garnishment, or legal process in the state in favor of any creditor of or claimant against any program participant, purchaser, owner or contributor, or program beneficiary. Therefore, your money is safe from a bankruptcy trustee.
If you are considering filing bankruptcy, you should consult an attorney. There are details that should be considered and your assets don't all have exemptions. Most attorneys offer a free consultations.