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Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy is also known as "debt liquidation" in that debts are liquidated and sold to pay off creditors.

Chapter 7 is also known as "straight bankruptcy" and "clean start bankruptcy" because it discharges all unsecured debt, giving the debtor a clean financial slate. If you are struggling with debt and are considering filing for Chapter 7 bankruptcy, Attorneys & Debt Counselors is here to help. Our bankruptcy lawyers have the skill and experience to guide you through all aspects of the Chapter 7 bankruptcy process.

In reality, most people who file for Chapter 7 stand to lose few or no assets, because of bankruptcy exemptions.

Is Chapter 7 Bankruptcy Right for You?

Chapter 7 bankruptcy is not available to everyone. In order to qualify for Chapter 7, your income must fall below a certain level, as determined by a means test.

The principle advantage of Chapter 7 bankruptcy is that it allows you to discharge debt, meaning you would have no further obligation to pay debts covered under the bankruptcy. Chapter 7 bankruptcy may also temporarily stop foreclosure in Florida. Certain types of debts, however, cannot be discharged such as taxes, child support, student loans and some others.

Filing for Chapter 7 bankruptcy allows you to keep your secured debt such as your home and your car, if you want to. These debts are allowed to pass through bankruptcy without being affected. However, by keeping the debts, you are responsible for paying them.

Adversely, if you don't want to keep secured debt, you can surrender the property and any debt associated with it is forgiven completely.

Chapter 7 allows most individuals to eliminate all of their unsecured credit card debt and medical bills and to keep all of their belongings. Occasionally, they may lose some property but this is usually very minimal.


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3019 West Azeele Street, Tampa, Florida 33609 | 1243 South Ridgewood Avenue, Daytona Beach, Florida 32114 | Phone: 813-876-3328
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