Orlando Chapter 7 Bankruptcy Attorney
Are You Looking To File? Call (407) 501-4052 for Experienced Help Today!
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Richard A. Heller, P.A., our legal team has nearly 75 years of combined experience. We take our
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As a result of our focus on client satisfaction, we are accredited by
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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 help and relief is available
with our Orlando bankruptcy attorney.
Chapter 7 Basics - What You Need To Know
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 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 Chapter 7, you will need to consider filing
Chapter 13 instead.
Chapter 7 discharges or "wipes out" certain unsecured debts.
Once these debts have been discharged, 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 Chapter 7 Bankruptcy include:
- Credit card debt
- Personal loans
- Certain taxes
- Medical debt
- Utility bills etc.
What types of debt cannot be discharged in a bankruptcy?
While many unsecured debts can be included in Chapter 7, the following
types of debt cannot be included in 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 your credit
will be affected, 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 options,
contact our office to arrange a
free consultation with an Orlando bankruptcy lawyer!