Chapter 7 Bankruptcy
Fort Myers Bankruptcy Attorney – 239.970.6844
If your debts to banks and creditors is piling up high and you do not know
what to do, it might be time to utilize Chapter 7 bankruptcy, or liquidation
bankruptcy as it is sometimes called. With a successful Chapter 7 filing,
the majority or entirety of your debt could be wiped clean and totally
discharged. The first step is
contacting our Fort Myers bankruptcy lawyers from Your Advocates. With our caring
and knowledgeable support, you could be well on your way to a debt-free
future before you know it.
Chapter 7 Discharges & Exemptions
The typical representation of
bankruptcy in the media and entertainment worlds is fictional but it does resemble
Chapter 7 bankruptcy. If successful, a Chapter 7 bankruptcy filing essentially
leaves you with a clean slate but the trade-off is risking some of your
valued property and damaging your credit score.
Some property you
may be able to keep, depending on your finances, includes:
- Home with certain amount of equity
- Retirement savings
- Automobile up to a certain value
- Furniture and appliances
For people with massive amounts of debt, Chapter 7 is often the only solution.
While it can be intimidating to know that your valued possessions could
be taken by creditors or the bank in exchange for debt discharge, our
team of Fort Myers bankruptcy lawyers hope you find solace in knowing
that you may be able to keep necessary items with our help.
Taking the Chapter 7 Means Test
Due to the strength of Chapter 7 bankruptcy, the government limits who
can use it. Before your filing can be accepted, you must take your state’s
“means test.” In simple terms, the means test involves comparing
your necessary expenses and your monthly income to determine if you are
making and saving more than the average person in your state. If you make
more than the typical Florida household, you have failed the means test
and cannot use Chapter 7.
Call us at 239.970.6844 for more information about the means test.
Using Bankruptcy to Your Advantage – Contact Us Today
Many people make the mistake of deciding that Chapter 7 bankruptcy is simply
not an option for them before they even know what it entails. Allow us
to enlighten you and give you a better idea of what to expect during the
bankruptcy process. If we determine that Chapter 7 is not right for you,
we can discuss Chapter 13 bankruptcy. The point is that there is always
hope and the possibility of debt relief if you look for it and side with
a team of professional Fort Myers bankruptcy lawyers.
free consultation can get you started down the right path – request yours now.