Orlando Bankruptcy Attorney

Chapter 7 Bankruptcy

Searching for an attorney for your bankruptcy case? At Richard A. Heller, P.A., our legal team has nearly 75 years of combined experience. We take our jobs seriously and are committed to delivering outstanding results and ensuring that our clients are satisfied with their experience with us. As a result of our focus on client satisfaction, we are accredited by the Better Business Bureau (BBB) with an A + Rating, and attorney Richard A. Heller is BV® Distinguished™ Rated by Martindale-Hubbell®, for our ethical standards and legal ability.

Do you want to become debt-free? If you are currently struggling with crushing debt, you are not alone. All across the country millions of Americans are in financial distress. Whether your financial problems were caused by an unexpected job loss, a divorce, an accident or an illness, or simply tough economic times, we want you to know that there is help and relief available.

Chapter 7 Basics

Chapter 7 is known as the "liquidation bankruptcy" because debtors liquidate their non-exempt assets in order to pay off creditors. However, due to the bankruptcy exemptions, many Chapter 7 cases are no-asset cases and the debtor doesn't have to liquidate anything.

In order to qualify for a Chapter 7, you must first pass the "bankruptcy means test," which will compare your income and household size to the median income of the state. If your income is too high and you don't qualify under a Chapter 7, you will need to consider filing a Chapter 13 instead.

A Chapter 7 discharges or "wipes out" certain unsecured debts. Once these debts have been discharged in bankruptcy, the creditors are legally prohibited from contacting you and pursuing any type of debt collection activity. You will no longer be responsible for paying any debts that are discharged in your Chapter 7. The types of debts that can be discharged in a Chapter 7 include: credit card debt, personal loans, certain taxes, medical debt, and utility bills etc.

What types of debt cannot be discharged in a bankruptcy?

While many unsecured debts can be included in a Chapter 7, the following types of debt cannot be included in a Chapter 7:

  • Government Student Loans
  • Child Support
  • Alimony/Spousal Support
  • Recent Taxes
  • Court Ordered Fines
  • Victim Restitution

Is Chapter 7 bankruptcy right for you?

If you are considering filing for bankruptcy, your monthly income and the types of debts you carry will determine which Chapter is right for you. If you're worried about how bankruptcy will affect your credit, the good news is that we can explain how to start rebuilding your credit right away. Believe it or not, with discipline and applying a few credit rebuilding strategies, you can significantly improve your credit score long before the bankruptcy falls off your credit!

To learn more about your bankruptcy options, contact our office to arrange a free consultation with an Orlando bankruptcy attorney!

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