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We practice CONSUMER BANKRUPTCY
law exclusively. 407-982-3763

We practice CONSUMER BANKRUPTCY law exclusively. 

One of the top Bankruptcy Filers

in the Orlando Area

One of the top Bankruptcy Filers

in the Orlando Area

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  4.  » Chapter 7 bankruptcy may be best option for some in Florida

Despite the amount of overwhelming debt that one has, there are options that can help alleviate the strain and anxiety of the situation. For some in Florida, filing for Chapter 7 bankruptcy may be the best way to tackle insurmountable debt and get back on the track to financial stability. However, not everyone qualifies, and all debt will not be automatically wiped away.

Passing the means test is the first order of business before you can proceed with a  Chapter 7 bankruptcy. This is essentially an evaluation of your income. If your monthly income at the time of filing is under the median income for families of the same size in your area, Chapter 7 is likely an option. If not, further steps can be pursued if you wish to be considered a candidate for Chapter 7 bankruptcy.

Eradicating debt is one basic desire of those seeking bankruptcy protection. However, under Chapter 7 bankruptcy, child support debt and most taxes are not subject to discharge. On the other hand, credit card debt and medical expenses may be discharged. Moreover, the filing of a bankruptcy petition operates to stop foreclosure actions, wage garnishments and eviction proceedings unless and until the court orders otherwise.

The entire process of qualifying and filing for Chapter 7 bankruptcy should be fully understood and explored alongside experienced legal counsel before proceeding. In some circumstances, a Chapter 13 debt reorganization may be more suitable and beneficial, depending on the specific circumstances. Our website has more information about Chapter 7 bankruptcy and how filing may help Florida families get back on their feet and out from under debt.