Ft. Lauderdale Chapter 7 Bankruptcy Attorney
Chapter 7 Bankruptcy Eligibility Requirements
Chapter 7 is the most widely-known type of bankruptcy, and it involves the use of income and liquidation of all non-exempt assets to repay as much debt as possible. In return, the court forgives the business or individual of any and all remaining debt. In many cases, a person may go through chapter7 bankruptcy without losing any assets, either if the person has no assets, or if those assets have been deemed to be exempt. This is generally the fastest way to file for bankruptcy and can be concluded in short order with the assistance of a skilled
Ft. Lauderdale bankruptcy lawyer.
Due to generous bankruptcy laws in Florida, there are a variety of different assets that can be exempted from the liquidation process in chapter 7 bankruptcy. Some of those exemptions include the person's home, retirement accounts, benefits and many other personal or business assets. Debtors may also be allowed to keep automobiles and personal possessions such as jewelry or gifts, and can even keep money saved in the bank from wages. In many cases, an individual or business may be allowed to undergo the bankruptcy process without losing anything at all. There are a lot of complicated details that may determine what can and cannot be excluded from liquidation, however, so be sure to consult a professional before moving forward.
Filing for Chapter 7 Bankruptcy in Ft. Lauderdale
Van Horn Law Group, P.A. has worked with many Florida bankruptcy clients throughout our many years in practice, and we understand how to navigate the process in a way that leaves you with the best opportunity for success. Our firm will work closely with all clients to determine whether chapter 7 bankruptcy is your best option, which exclusions can be secured, and how to make the most of your second chance and fresh financial start . We believe in your right to start over in situations where you're unable to repay the debt you have accrued, and we will fight to see that you get every opportunity to start over, as you are entitled under the law.
Contact a Ft. Lauderdale chapter 7 bankruptcy lawyerif you are interested in filing for chapter7 bankruptcy and would like to discuss your options with a qualified legal professional.