Help With Chapter 7 Bankruptcy In Florida

The pressure of mounting debt can quickly become too much to bear. If you are being harassed by creditors and your debt is growing, it may be time to consider filing bankruptcy. With more than 30 years of bankruptcy experience, attorney James H. Monroe can help. Call 407-917-4147 for a free initial office consultation.

How Chapter 7 Bankruptcy Works

Chapter 7 bankruptcy eliminates legally dischargeable debt. In return, the debtor must forfeit property that is considered nonexempt. The earnings from this property are used to settle debts with creditors.

The debtor can keep property that is considered exempt. In many cases, debtor is not required to surrender any of his or her personal property.

What Assets Are Considered Exempt?

Property that a debtor is not required to surrender (exempt property) can vary on a case-to-case basis. However, the debtor may be allowed to keep the following:

  • Household goods
  • Clothes
  • Retirement accounts
  • Automobile, up to a certain amount
  • Home, up to a certain amount
  • And more

Talk to a bankruptcy attorney to get an idea of what property you may be able to keep if you file Chapter 7 bankruptcy.

Why Consumers File For Chapter 7 Bankruptcy

Filing bankruptcy is not uncommon. Despite what many people think, individuals who file bankruptcy are not doing so because they are irresponsible with their money. Circumstances beyond their control — an unexpected illness or job loss, for example — may have caused them to enter into difficult financial circumstances.

For individuals who have assets that are considered exempt (meaning that those assets are not subject to forfeiture), Chapter 7 bankruptcy is a good option. Individuals who own many assets — especially ones that are subject to seizure — may wish to consider Chapter 13 bankruptcy. A bankruptcy lawyer can help determine which option is right for you.

Contact Our Central Florida Law Firm For Help

Attorney James H. Monroe in Orlando, Central Florida, has over 30 years of bankruptcy experience. He is certified in bankruptcy law by the American Board of Certification. He has the experience and knowledge it takes to advise you on the necessary steps for moving beyond your debt and getting a fresh start. To schedule a free initial office consultation, call for an appointment at 407-917-4147 or contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.