Bankruptcy
Experienced & Aggressive Legal Service
KISSIMMEE BANKRUPTCY ATTORNEY
Ready to help clients throughout florida get a fresh start
When you are struggling with overwhelming debt, it is natural to feel helpless and uncertain of what to do. However, you do not need to feel this way, nor do you need to continue to be harassed by creditors. Filing for bankruptcy can help you manage or even completely settle most, if not all, outstanding debts that you have.
Common benefits of bankruptcy include:
- You can halt foreclosure on your home.
- It puts an immediate end to pestering calls from creditors.
- Most of your debts can be settled very quickly.
- It allows you to start rebuilding your credit.
- You will most likely be able to keep your home and car.
Call our office to learn more about how we can help you get a new lease on life. Also serving clients in Orlando and Tampa
Chapter 7 bankruptcy in Florida
Chapter 7 bankruptcy eliminates all debts by forgiving most forms of unsecured debt and liquidating non-exempt assets. A court-appointed trustee sells your nonexempt assets and distributes the proceeds to your creditors.
Unsecured debts are generally not secured by property and includes credit cards, medical bills, personal loans, and vehicle leases. By contrast, secured debt is backed by collateral, such as mortgages, car loans, and furniture payments. You can keep certain secured debts if you reaffirm or redeem those debts
We also handle personal injury claims, including:
- Homestead exemption – You can exempt an unlimited amount of equity in your home or other property (up to a half acre in the city and 160 acres elsewhere). You can only claim the homestead exemption if you owned the property for at least 40 months prior to filing for bankruptcy.
- Personal property exemption – Personal property (e.g. furniture, electronics, art, etc.) of up to $1,000. If you are not using the homestead exemption, then the limit is $4,000.
- Motor vehicle exemption – You can exempt a maximum $1,000 in vehicle equity. However, if you are married and filing jointly, this limit increases.
- Wages exemption – If you are the head of the household, your earnings could be exempt up to $750 per week.
In order to file for Chapter 7 bankruptcy in Florida, you must pass the “means test.” This means if your household income is lower than Florida’s median income, you are eligible for Chapter 7 bankruptcy. An experienced bankruptcy lawyer can make the proper calculations and figure out whether you qualify.
As soon as you file for Chapter 7, an automatic stay is imposed. The stay stops creditors from seeking or continuing legal actions against you, as well as all collection efforts. Your attorney will work closely with the trustee and ensure you are treated fairly during your bankruptcy proceedings.