Florida Chapter 7 Bankruptcy Attorney

A Chapter 7 bankruptcy can provide immediate relief from financial stress. Upon the filing of a Chapter 7, an automatic stay stops all creditors from calling, sending debt collection letters, filing lawsuits, or garnishing wages. A Chapter 7 provides a fresh start for many debtors burdened by credit card debt, medical bills, past-due rent and utilities, payday loans, and certain tax debt obligations.

Advantages:

• Stops creditors from calling or harassing you;
• Eliminates credit card debt;
• Eliminates medical debts;
• Eliminates many tax debt obligations;
• Normally a quick and simple solution that allows you to retain your assets and receiv a fresh start.

How Chapter 7 Works:

Chapter 7 provides an opportunity to wipe the slate clean and begin again on a more solid financial footing. At the beginning of a Chapter 7 case, your attorney will work with you to properly list all of your income, debts, and assets in your bankruptcy schedules and statements. Your attorney will also help you to maximize your claims of exemptions in order to keep most or all of your assets exempt from the claims of creditors in bankruptcy.

In Chapter 7 a Trustee is appointed whose primary job is to review your schedules and statements and to distribute any non-exempt assets to your creditors. Most Chapter 7 filers get to keep all of their property. Florida law has some generous exemptions which allow you to keep 100% of the equity you own in your homestead, some or all of the equity you may have in your vehicles, clothing, furniture, tools, and other assets. In certain instances, Florida law also allows you to claim an additional $4,000 wildcard exemption to protect property that might otherwise be exempt.

30-40 days after the filing of your case, the Trustee conducts a review of your file in a short telephonic examination called a Section 341(a) meeting of creditors. Following this meeting, the Trustee and other creditors have up to 60 days to object to your discharge or to the dischargeability of particular debts. Most of the time you receive your discharge and fresh start with no complications after the Section 341(a) meeting of creditors.