Chapter 7 Filing

Chapter 7 Filing

Chapter 7 Bankruptcy is the most common bankruptcy option available to most people. Chapter 7 Bankruptcy is often referred to as a liquidation bankruptcy. By filing a Chapter 7 Bankruptcy you may be able to eliminate most or all of your debts and have a fresh start in as little as a few months. Chapter 7 is not available to everyone, therefore the bankruptcy court uses the “Means Test” to measure income and expenses to determine if someone qualifies for Chapter 7 Bankruptcy relief. Some of the debt that may be eliminated in Chapter 7 are:

  • Medical bills
  • Credit card debt
  • Wage garnishment
  • Business debt that was personally guaranteed
  • Legal judgments
  • Repossessions
  • Collection agencies

Florida has its own set of exemptions that affect what types of exemptions are available to someone seeking Chapter 7 Bankruptcy protection. It’s important that you consult with a qualified and knowledgeable bankruptcy attorney that can help educate you as to what your rights are prior to filing for bankruptcy.

When you file bankruptcy in Florida you may also use certain federal exemptions in addition to your Florida exemptions. Again, you should consult with a qualified and knowledgeable bankruptcy attorney.

Schedule your 30 minute consultation with our bankruptcy attorney today!