Filing for a Chapter 7 bankruptcy can seem like a strenuous and stressful legal process. Although you have the option to file your Chapter 7 Bankruptcy case pro se, hiring our attorney provides you with a teammate who can explain the Chapter 7 bankruptcy rules and procedures, streamline the bankruptcy filing process, prevent unpleasant surprises, and advocate for you.
For over a decade, the lawyers at Fleysher Law have been helping people in Florida file for Chapter 7 bankruptcy. Our mission is to help turn a stressful and painful situation into an opportunity for a fresh financial start.
Our client-centric approach aims to preserve and promote a beneficial attorney-client relationship. We always ensure the trust of our clients by promoting a culture of transparency and integrity.
Call for a free consultation with our experienced and knowledgeable Chapter 7 Bankruptcy Lawyer so you can determine the best course of action.
Chapter 7 is one of the most popular options for individuals contemplating bankruptcy. The other prevalent option is a Chapter 13 bankruptcy.
In contrast to Chapter 7 bankruptcy, Chapter 13 bankruptcy is for people who assume they can gradually pay back their overall debt if permitted to make a fair payment agreement.
Chapter 7 is a favorable option for people with a deep financial burden. This bankruptcy process intends to discharge the debtor’s unsecured debt. Usually, the entire Chapter 7 bankruptcy proceedings last 90 to 120 days.
Our Jacksonville Chapter 7 attorney at Fleysher Law has a wealth of experience and knowledge in handling both straightforward and complex bankruptcy matters.
The court might discharge most of your debts like credit card debts and medical bills if you meet the requirements for Chapter 7 bankruptcy. However, Chapter 7 does not provide for the discharge of most secured debts. In general, dischargeable liabilities consist of:
The law also protects other types of debt, such as spousal and child support obligations, student loans, most tax expenses, and some fines and costs. Under the Chapter 7 bankruptcy procedure, certain unsecured debts are not eligible for discharge, including:
If you have financial worries about not making your payments, our firm typically advises that you apply for Chapter 7 bankruptcy. Other types of bankruptcy are available, but Chapter 7 is typically the best choice for individual applicants.
Serious debtors in Florida who file bankruptcy under Chapter 7 can have their eligible debts “discharged” in exchange for giving up ownership of almost all of their material possessions, except for a few exemptions.
A debt that has been “discharged” is not wiped or forgiven. Instead, the debtor is released from any legal responsibility to repay the bill. In most cases, creditors of discharged debts also lack the lawful means to seek payment from you.
Not everyone can declare bankruptcy under Chapter 7, but those eligible may find immediate bankruptcy relief.
Not all debtors who wish to file for bankruptcy can do so under Chapter 7. The first step is to determine whether or not you meet the eligibility requirements, and the means test is the most effective method for achieving this.
The means test is a simple calculation showing whether your income is low enough to qualify for this type of bankruptcy. If your income is too high, you will not be able to file for Chapter 7 bankruptcy.
This does not automatically deny you from seeking debt relief under the bankruptcy code. You might still be qualified to declare bankruptcy under Chapter 13 and create a repayment plan.
Other prerequisites for Chapter 7 include:
Contacting our Jacksonville Chapter 17 bankruptcy attorneys is the initial step to discovering your best choices.
Even if your financial situation is terrible, Chapter 7 may not be the right option for you. A bankruptcy court must remove several obstacles before approving a petition by an applicant. They include:
Even if you are permitted to file, the court may dismiss your case if it discovers that you are trying to fool your creditors.
Chapter 7, also known as “liquidation bankruptcy,” implies that everything the debtor possesses is available for one giant yard sale to help repay creditors, as we indicated above.
Although the procedure can be painful, the goal of bankruptcy legislation is to free people from crippling debt and provide them with a new beginning.
As a result, possessions that fall under the “necessities of modern life,” or possessions required for both living and working, are mainly protected from bankruptcy legislation. This could include:
To learn more about what property you can keep, you should speak with an experienced Jacksonville bankruptcy lawyer.
It is essential to seek the advice of an experienced Chapter 7 bankruptcy counsel if you are facing Ch. 7 bankruptcy in Florida. Although declaring bankruptcy can be complex and confusing, an experienced lawyer can guide you through it.
Typically, Chapter 7 cases result in a discharge for 9 out of 10 individual debtors (excluding those converted or dismissed). Among the grounds for denying a Chapter 7 release are:
Working with a knowledgeable Chapter 7 bankruptcy legal team will aid you in avoiding mistakes that could hurt your case. To discuss your issue and find out your alternatives, set up a free appointment with our team right away.
Chapter 7 bankruptcy may not be for anyone, but it can be your only way out of a financial spiral. In this case, working with a Jacksonville Chapter 7 bankruptcy lawyer becomes a necessity. When partnering with our revered bankruptcy lawyer, here’s what you can expect:
If you plan on applying for Chapter 7 bankruptcy in Jacksonville, contact Fleysher Law today to schedule a free consultation with one of our experienced bankruptcy lawyers. We will answer your questions, explain your options, and help you determine if Ch. 7 bankruptcy is right for you.
The cost of an attorney’s service fee varies for a multitude of factors, such as the lawyer’s expertise, the complexity of your case, the expected timeline of your bankruptcy discharge, etc. Many bankruptcy law offices offer free consultation and customize a flexible payment schedule.
It’s critical to be prepared if you’re thinking of declaring Chapter 7 bankruptcy in Jacksonville, Florida. The good news is that most people who file for bankruptcy successfully get their debts released and a fresh start.
The success rate of Ch. 7 bankruptcy cases might vary depending on several factors. Scheduling an appointment with an experienced Chapter 7 lawyer can help you further your chances of success with a Chapter 7 bankruptcy.
You can immediately eliminate your debt within three to six months, thanks to Chapter 7 bankruptcy. Chapter 7 bankruptcy also has the benefit of halting foreclosure actions.
If you are behind on your mortgage payments, applying for bankruptcy can give you time to catch up. It can also stop creditors from garnishing your wages or taking other legal action against you.
Often, creditors are allowed to keep their homes and cars as long as there isn’t excess equity exceeding the applicable exemption rules. In general, all non-exempt property a debtor owns is subjected to liquidation.
The Florida law forbids citizens from utilizing federal bankruptcy exemptions but allows them to use the Florida bankruptcy exemptions. In this rule, homestead, annuities, and the cash surrender value of a life insurance policy are all shielded from bankruptcy indefinitely.
A person who declares bankruptcy under Chapter 7 can start over fresh and repair their credit immediately. Because they can erase obligations, increase their debt-to-income ratio, and become more appealing to lenders, some clients’ credit improves after filing bankruptcy.
You can still file for bankruptcy protection notwithstanding the results of the means test, albeit Chapter 7 bankruptcy might not be possible. Several elements are at play, but generally speaking, people with greater earnings may find it more challenging to file relief under the bankruptcy code.
After declaring bankruptcy under Chapter 7 and obtaining relief, you have eight years to wait before filing again. Petitioners should keep this aspect in mind before filing bankruptcy.
After acquiring a dismissal under Chapter 7, you can file under Chapter 13, but waiting periods affect whether the court will forgive the debt.
If you have already submitted a Chapter 13 filing, you can file for Ch. 7 bankruptcy six years after the filing date. The only exception is if you genuinely filed for Chapter 13 and have paid off all of your unsecured obligations, or at least 70% of them.
Fleysher Law offers tailored help, advice, and legal representation for each stage of filing a Jacksonville bankruptcy in Florida. Our years of legal experience have aided countless people, and families start over after leaving behind massive debt.
Take your first step to financial recovery by calling us at (888) 565-1223 to arrange a free initial consultation with our law firm. You may also submit your case information using our online contact form.