This page was written, edited, reviewed & approved by Emil J. Fleysher following our comprehensive editorial guidelines. Emil J. Fleysher, the Founding Partner, has 15+ years of legal experience as a bankruptcy attorney. Our last modified date shows when this page was last reviewed.
Facing financial difficulties can be stressful, particularly when debts become unmanageable. Understanding your options is vital if you're considering bankruptcy as a way to regain financial stability.
At Fleysher Law, our Fort Myers Chapter 7 bankruptcy lawyers are dedicated to helping individuals navigate the complexities of the bankruptcy process. We provide compassionate and knowledgeable legal guidance to help you make informed decisions regarding your financial future.
Chapter 7 bankruptcy, also called liquidation bankruptcy, offers a way to wipe out many unsecured debts and start afresh. Our Fort Myers bankruptcy attorneys are here to assess your situation, guide you through each step, and help you earn a fresh financial start.
With us, you can expect a thorough analysis of your financial situation and a strategy tailored to your unique needs. Learn more about the bankruptcy filing process. Then, contact us to stop your debt collection and get a clean slate.
Our Fort Myers bankruptcy lawyer knows the stress, financial hardship and anxiety that come with severe financial strain. We are committed to providing a path to relief for those overwhelmed by debt. By filing for Chapter 7 bankruptcy, many of our clients find the breathing space they need to rebuild their finances without the burden of insurmountable debts.
We work closely with each client to ensure the bankruptcy process is as clear and straightforward as possible. Our approach involves personalized counsel tailored to your circumstances to achieve the best possible outcome.
With Fleysher Law, you're not just getting legal assistance; you're gaining a partner who will stand by you through every step of your financial recovery.
Chapter 7 bankruptcy aims to help individuals and businesses eliminate or discharge unsecured debts. This type of bankruptcy allows you to cancel debts such as credit card balances, medical expenses, and personal loans. It's often a viable option for those with limited income who cannot afford to pay off their debts over time.
In Chapter 7 bankruptcy, a trustee is named to oversee the process. This trustee may liquidate any non-exempt assets to pay creditors. However, many of our clients find that Florida bankruptcy exemptions allow them to keep most, if not all, of certain assets and their possessions.
To qualify for Chapter 7 bankruptcy, you must pass the means test. This compares your income to the median income in Florida. If your income is below the median, you likely qualify for Chapter 7. This bankruptcy option is generally best for individuals with considerable unsecured debt and limited financial resources.
Our team can help you a qualified bankruptcy attorney, become familiar with the qualifications and guide you through the means test. We ensure that all aspects of your financial situation are considered, providing a comprehensive evaluation that aligns with Florida bankruptcy law.
Chapter 7 bankruptcy lets you discharge or cancel various types of debts, providing great relief for debtors.
Credit card debt and unsecured personal loans are typically discharged in Chapter 7, offering a fresh start to individuals with high interest rates and overwhelming balances. If you're struggling to pay off credit card debt, we can evaluate whether this process is right for you.
Medical debt, a frequent reason people file for bankruptcy, can also be discharged. This helps individuals recover financially without the looming burden of insurmountable medical expenses. You might think your medical debt is never going to get paid off. Instead, let us explore your options using bankruptcy.
While not all tax debts and judgments are dischargeable, some can be eliminated in Chapter 7 bankruptcy, depending on specific conditions and the age of the debt. We will look at the tax judgments and see if we can cancel them using this process.
If Chapter 7 bankruptcy isn't the right fit, alternatives like Chapter 13 bankruptcy or debt consolidation might be suitable. Each has its own legal system, benefits and drawbacks, and our team can help you explore all options to find the best solution for your circumstances.
By considering alternatives, you ensure you choose the most advantageous path for your financial recovery. Our attorneys will discuss each option with you, considering your long-term financial goals and immediate needs.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 involves liquidating non-exempt assets to pay off debts, while Chapter 13 reorganizes debts and sets the stage for a repayment plan that lasts 3 to 5 years.
Can I keep my home and car in Chapter 7 bankruptcy?
Yes, in some cases. If you continue to pay for secured debts, Florida allows certain exemptions that may protect your home and car.
How long does it take to complete a Chapter 7 bankruptcy?
The process usually takes 3 to 6 months from the date of filing to the discharge of debts. Our Fort Myers bankruptcy attorneys can help you.
If you're overwhelmed by debt and considering bankruptcy, Fleysher Law is ready to help you. Our Fort Myers Chapter 7 bankruptcy lawyers are here to help you understand your options and work through bankruptcy. Our Fort Meyers Chapter 7 Bankruptcy Lawyer knows how to help you get a fresh financial start. Contact our Fort Myers, FL, law firm today to schedule a free consultation with our bankruptcy attorney.
Cape Coral, Lehigh Acres, Fort Myers, Bonita Springs, North Forth Myers, Estero, San Carlos Park, Villas, Iona, Cypress Lake, and surrounding areas.
How much does a lawyer charge for Chapter 7 in Florida?
In the state of Florida, attorneys providing legal services for Chapter 7 bankruptcy cases typically charge fees between $1,162 and $3,000. It is crucial to acknowledge that the precise fee amount is subject to variation contingent upon several factors, including the specific bankruptcy chapter involved, such as Chapter 7 or Chapter 13.
How to file Chapter 7 with no money in Florida?
Individuals petitioning for Chapter 7 bankruptcy must submit a $338 filing fee to the bankruptcy court, a standard charge across all United States jurisdictions. However, a fee waiver is obtainable for those proving financial distress. To qualify for this waiver, an applicant's income must remain below 150% of the stipulated federal poverty thresholds.
How long does Chapter 7 take in Florida?
The customary duration for the adjudication of a Chapter 7 bankruptcy proceeding is generally four to six months from the filing date. However, the precise timeline is subject to fluctuation based upon the particularities of the case, including the complexity of financial affairs and the existing caseload of the bankruptcy court.
How much does it cost to file Chapter 7 bankruptcy in Florida?
In December 2020, the established judicial filing fees for bankruptcy proceedings were $338 for Chapter 7, which is the most frequently utilized form for individual filers, and $313 for Chapter 13. Furthermore, a supplementary fee is applicable should one elect to alter the chapter designation of their bankruptcy case.
How much cash can you keep when filing Chapter 7 Florida?
Within Florida Chapter 7 bankruptcy cases, the degree of asset protection for cash is determined by the utilization of homestead and wildcard exemptions. Typically, personal property exemptions are limited to $1,000. However, if the homestead exemption is not applied, this limit increases to $4,000. Furthermore, an exemption of up to $1,000 in vehicle equity is allowable.
Can I keep my car if I file Chapter 7 in Florida?
Within the jurisdiction of the State of Florida, persons initiating proceedings for Chapter 7 bankruptcy are potentially eligible to preserve ownership of their motor vehicle. Through the application of the Florida motor vehicle exemption, conjunction with alternative available exemptions, and the potential execution of a reaffirmation agreement, safeguards may be established against the liquidation of said vehicle.
Will I lose my house if I file Chapter 7 in Florida?
In Chapter 7 bankruptcy proceedings, the liquidation of designated assets may be required. The legal framework of Florida establishes a comprehensive homestead exemption, notable for its unrestricted protection of principal dwellings. Conversely, the jurisdiction's legislative statutes define specific limitations on exemptions for personal possessions and motor vehicles.
What is the income cut off for Chapter 7 in Florida?
Effective February 2025, the established median income thresholds for single-income households within the state of Florida are delineated as follows:
How much equity can I have in my home and still file Chapter 7 Florida?
Under Florida law, an unqualified homestead exemption exists, protecting the entire equity value of a principal residence in Chapter 7 bankruptcy cases. Therefore, those individuals who file for Chapter 7 bankruptcy in Florida may maintain ownership of their principal residence irrespective of its equity. This exemption exceeds the homestead exemptions provided by most other states.
How much cash is exempt in Chapter 7 Florida?
Specific categories of personal property, defined as assets separate from real estate, qualify for exemptions. These categories include furniture, art pieces, and electronic equipment. A cap of $1,000 is placed on this exemption. However, a substitute exemption of $4,000, known as a wildcard exemption, is available if the homestead exemption is not utilized.
What assets do you lose in Chapter 7 in Florida?
Within the jurisdiction of the State of Florida, a significant proportion of Chapter 7 bankruptcy filings are categorized as no-asset cases. This designation signifies that all of the debtor's assets are protected under applicable exemptions, thereby prohibiting their liquidation for the purpose of debt satisfaction. Consequently, it is typical for individuals who commence Chapter 7 proceedings in Florida to retain ownership of all assets while simultaneously obtaining a discharge of their unsecured debts.
How long does Chapter 7 stay on credit report in Florida?
The reporting period for bankruptcy records on credit histories is a minimum of seven years. In the state of Florida, Chapter 7 bankruptcy proceedings, which involve asset liquidation, may be documented for a period extending up to ten years.
How many times can you file Chapter 7 in Florida?
In cases where a Chapter 7 bankruptcy discharge has been granted, a mandatory eight-year waiting period must elapse prior to filing for a subsequent Chapter 7 bankruptcy. This waiting period is calculated from the initial filing date of the first case to the submission date of the new filing.
What forms do I need to file Chapter 7 in Florida?
Formal Requirements for Submitting Chapter 7 Bankruptcy Petitions within the State of Florida:
United States Bankruptcy Court Official Form 101: Voluntary Petition for Individuals Filing for Bankruptcy.
Initial Statement Regarding Eviction Judgments (if applicable).
United States Bankruptcy Court Official Form 121: Statement Concerning Social Security Numbers.
What is exempt property in Chapter 7 in Florida?
In bankruptcy proceedings, debtors, whether filing individually or jointly, are entitled to claim an unrestricted homestead exemption, provided that they have maintained ownership of the property for a minimum of 1,215 days prior to the bankruptcy petition. This exemption is applicable solely to residential properties that do not exceed one-half acre in size within municipal limits or 160 acres in size in areas outside municipal jurisdictions.
Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.Â
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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