Chapter 7 Bankruptcy

Orlando, Florida, Chapter 7 Bankruptcy Lawyers

Filing Chapter 7 bankruptcy allows you to obtain a discharge of debts such as credit card bills, lawsuit judgments, payday loans and hospital bills. At the Law Office of Paul L. Urich in Orlando, Florida, our lawyers offer a free initial consultation to explain how Chapter 7 bankruptcy works and determine if you qualify.

Under the new bankruptcy laws, you must first pass a means test to file Chapter 7 bankruptcy. If your current monthly income is below the Florida adjusted median income, you can file Chapter 7 bankruptcy. However, even if your income is above the Florida adjusted median income, you may still be able to file after expenses such as car payments and retirement plan contributions are deducted from your income. Our lawyers have helped many people file Chapter 7 bankruptcy after other attorneys told them that they did not qualify due to the means test.

If you don't qualify for Chapter 7 bankruptcy, you may still be able to obtain the debt relief you need by filing Chapter 13 bankruptcy.

There are certain debts that cannot be discharged by bankruptcy, including child support, taxes and debts that are secured by property, such as your home and your car. However, you can keep these assets by making payments and filing a reaffirmation agreement with the court.

Will I lose any assets by filing Chapter 7 bankruptcy?

Chapter 7 is sometimes referred to as "liquidation" bankruptcy because the bankruptcy trustee can seize assets to pay your debts. However, certain property is exempt from seizure in Florida. Exempt property includes all equity in your home, up to $1,000 of equity in your car, and up to $1,000 in other personal property ($4,000 if you do not claim the Florida homestead exemption).

Filing Chapter 7 bankruptcy puts an immediate stop to home foreclosure, eviction, wage garnishment, repossessions and harassment by your creditors.

Free Ch. 7 bankruptcy consultation: Call 407-896-3077 or fill out our contact form to discuss your case with a Florida bankruptcy attorney at no charge.

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