Free Consultation: (813) 528-4044Pay Portal

Chapter 7

Are You A Good Candidate?

In this form of bankruptcy all assets are liquidated with a few exemptions for income required to survive. It’s available to all individuals no matter how much debt they have and it doesn’t matter if they are solvent or insolvent. You are solvent if your assets excede your liabilities. It is not available to partnerships or corporations.

Are You A Good Candidate?

  • Are unable to meet even minimum payments on debt
  • Credit cards and other personal loans never seem to go away (or go down)
  • You are being hounded by creditors

The benefits of Chapter 7 include a discharge of all debts and perhaps lower stress in your life. A creditor cannot hound you any more after your debt has been discharged.

But a discharge does not eliminate certain types of debt such as:

  • Alimony and child support obligations
  • Certain taxes
  • Debts for certain educational benefit overpayments or loans made or guaranteed by a governmental unit
  • Debts for willful and malicious injury by you to another entity or to the property of another entity
  • Debts for death or personal injury caused by your operation of a motor vehicle while intoxicated from alcohol or other substances
  • Debts for criminal restitution orders under title 18, United States Code

The bankruptcy courts are very strict as regards to actual assets claimed. Any attempt to hide income or assets can be subject to bankruptcy fraud and could eliminate any discharge.

A court trustee will be assigned to manage the debtors estate with the power to investigate any and all aspects of the filing, from both a debtors as well as a creditors point of view.

We are empathetic, respond quickly, and act towards fast resolution.