Chapter 7 Bankruptcy Attorneys in Fort Lauderdale
Find Out Which Bankruptcy Option Could Work for You
Finding yourself under a pile of unpaid bills and overwhelming debt can
be extremely stressful, and may leave you feeling overwhelmed and defeated.
Unpaid debt can have severe consequences, so conquering your debt efficiently
should be your prime objective, and filing
bankruptcy may be a viable way to do it. Chapter 7 bankruptcy is the most common
form of bankruptcy, and can enable you to eliminate your financial troubles
and start fresh.
Our bankruptcy attorneys at
Loan Lawyers know precisely what to do in order to help you and your family if you
are facing extreme debt. We have more than 100 years of legal experience
under our belts, and we have eliminated more than $30,000,000 in mortgage
principal and $50,000,000 in consumer debt for our clients.
To discuss your options, call our legal team at (844) 344-4813
What is Chapter 7?
Also called “straight” or “liquidation” bankruptcy,
Chapter 7 bankruptcy is typically the simplest option for those facing
overwhelming debt. By liquidating certain assets or properties, you can
receive full forgiveness for outstanding debts. Chapter 7 is one of the
quickest forms of bankruptcy, sometimes taking as little as a few months.
The bankruptcy court follows a means test, which looks at a person’s
average gross income for 6 months prior to filing for bankruptcy. When
filing for Chapter 7 bankruptcy, a person who makes less than the median
income of their state will qualify. Someone may need to file for bankruptcy
for a number of reasons, including credit card debt, medical bills, personal
loans, or student loans.
Your Property and Debt
One of the biggest concerns for people filing bankruptcy is whether or
not they will be able to keep their home. In most cases, Chapter 7 bankruptcy
filers are able to retain possession of their house, especially if it
qualifies as exempt property. Exempt property laws vary by state, but
allow bankruptcy filers to keep necessary possessions, like bedding and
kitchenware, any tools required for work, and sometimes the car.
Common types of exempt property includes:
- Your home
- Retirement funds, 401k accounts
- Social Security
- Veteran’s benefits
- Disability benefits
- Essential household goods
- Equipment or tools used for work
If there are other possessions you wish to keep that are not listed as
exempt, an experienced bankruptcy attorney is especially crucial. To find
out what you would be able to keep after filing Chapter 7 bankruptcy,
reach out to Loan Lawyers to discuss your circumstances.
Solve Your Debt Issues with Chapter 7 Bankruptcy
Once you’ve decided Chapter 7 bankruptcy is your best choice for
debt resolution, call our attorneys for help. The process to file for
Chapter 7 bankruptcy begins when you fill out a petition, along with several
other forms your lawyer can help you with. These bankruptcy forms will
ask about your property, exempt property, income, expenses, and debts.
You will also need to list any purchases made in the past 2 years, including
property, and any property sold or given away during that time.
Our Florida Bankruptcy Attorneys Can Help
At Loan Lawyers, we understand the difficulty of your situation, and we
will help you and your family handle your debt in the best way possible.
Not only will our knowledgeable legal team offer you sound counsel, we
will stand beside you every step of the way. Our goal is to ensure you
overcome your financial difficulties and file bankruptcy in a way that
disrupts your day-to-day life as little as possible.
Contact Loan Lawyers
today to begin working on your Chapter 7 bankruptcy.