Chapter 7 Bankruptcy Attorney
For those who have reached a point where paying off credit card debt, medical bills and other obligations seems impossible, it may be time to consider what bankruptcy can do to get you back on track. Filing for a Chapter 7 bankruptcy could be the best way for you to get the fresh start you need.
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, P.A., in Orlando, Florida, we are dedicated to helping our clients get the financial relief they need through the bankruptcy process. Our founding attorney, Paul Urich, has nearly 13 years of experience in bankruptcy law. Built on that experience, our firm proudly serves clients throughout central Florida, helping them rebuild their financial lives.
Who Can Qualify For Chapter 7 Bankruptcy?
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. We 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 in Chapter 7 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 My 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). We are very skilled at using exemptions to help our clients retain important items.
What Are The Additional Benefits Of Chapter 7?
In addition to eliminating unsecured debt, filing Chapter 7 bankruptcy puts an immediate stop to:
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We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.