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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.  » Preparing for a Chapter 7 bankruptcy consultation

Like many Florida residents, once you make the decision that you need to take control of your financial situation, it can be a challenge to determine where to turn. Filing for Chapter 7 bankruptcy can be a frustrating and complex process, and it is recommended that you not go through it alone. In order to make the most of your consultation with an attorney, there are certain steps you should take.

The first thing to gather is information regarding all of your debts. This does not only include statements about the bills themselves, but also any information regarding collection activities on those accounts. If a creditor has initiated legal action against you, the legal documentation will also need to be reviewed so that the lawsuit can be added to the bankruptcy. It is important that all of your debts be included in the bankruptcy because if they are not, you will still be responsible for them after the bankruptcy is complete.

Information regarding your income and assets will also be a vital part of any filing. Six months’ worth of proof of your income is needed in order to determine your net income. Certain financial thresholds are required in order to file for Chapter 7 bankruptcy. In addition, a comparison of your expenses versus your net income will be done. Certain exemptions are available for property, and it will be necessary to choose between the federal exemptions and those allowed under Florida law.

If you are married, it will be determined whether your spouse should also be included in the filing. You will need to identify any property that has been sold or acquired within a certain time frame. All of these issues and more will be discussed during your initial consultation. If you meet the qualifications for Chapter 7 bankruptcy, your attorney will then discuss what you can expect during the process.