Declaring Chapter 7 bankruptcy can be a way for Florida consumers to break different types of debt and start again, without the constant harassment from creditors.
Most people think of Chapter 7 bankruptcy when they think of getting out of debt, and that’s because it is the most common way to end your debt problems. Most people filing Chapter 7 will retain all their property, but that is because they were advised by an experienced bankruptcy attorney who knows how to handle cases in Florida – one of the characteristics of a good lawyer is to not let you declare a Chapter 7 bankruptcy unless it is right for you.
There are pros and cons to filing Chapter 7, and I can review this with you in order to help you make an informed decision to decide if you should file bankruptcy.
The Process of Chapter 7 Bankruptcy In Florida
Declaring bankruptcy is a partnership between you and your attorney. Working together, we will gather the information about your income, assets and debts. You will need to identify your sources of income, review expenses, and work through any problem in your case to eliminate surprises.
You don’t want to declare Chapter 7 bankruptcy only to be surprised after filing
There are lots of forms to be completed in a Chapter 7 bankruptcy. In fact, the entire filing will be between 50 and 60 pages of information. Do not worry, you will not be sitting at your computer trying to solve it – that’s one reason why you hire a lawyer in the first place. We know what to disclose, and the right way.
Credit Counseling … but not the kind that you think
Before your Chapter 7 bankruptcy is declared, you will go through a credit counseling course with a provider approved by the court. It takes about 20 minutes to complete, and you can get it done by phone or internet. We provide all this information.
This is not the same type of credit counseling you see on TV. In fact, it’s just a formality. You can thank Congress for creating this law in 2005, it is 20 minutes of wasted time.
Once the case is filed …
At the time that the Chapter 7 bankruptcy is filed, you are given a case number. Assuming that you filed no other cases in the last 12 months, an automatic stay goes into effect, which prevents your creditors from taking any actions against you. There are limits to the automatic stay, but only in rare circumstances that I will address.
About a month after filing Chapter 7, will attend a meeting of creditors. Creditors are allowed to come to ask questions about your case. But don’t worry, this rarely happens. The meeting is so routine that it usually only takes about 5 minutes and consists of questions that are written in a handbook for trustees by the government of the United States.
Objections to your bankruptcy would be raised and discussed at this point, and the judge would make any decision necessary. But the judge does not attend the meeting of creditors.
It costs you nothing to sit and talk with an experienced bankruptcy attorney
Some lawyers charge an arm and a leg to give you the time of day, but not us. Make an appointment to come and sit down to discuss your problems. We will map out all your options (including bankruptcy alternatives) and create a plan to make your future better than the present.
You should ask a lot of questions and I want to answer them. Please contact me or call 407-749-00801 to set up a free, no obligation consultation.
But before talking with me, I would like you to read these articles on my website: