Filing Chapter 7 Bankruptcy in Florida - Brasca Law Office - Florida

Does this sound like your situation?

• My household makes less income than we used to. 
• My take home pay is just enough to pay basic expenses, not the credit card bills. 
• We can’t pay even our basic expenses, much less our credit card debts. 
• I have a lot of medical debts, credit card bills, and other debts.
• I'm being sued by a collections agency.
• They are trying to repossess my car.

I’m in over my head!

Chapter 7 is sometimes called “fresh start” bankruptcy because it can relieve you completely of some kinds of debt, such as credit card debts and medical bills. It can stop collections lawsuits, prevent repossession, and even temporarily stop foreclosure.

Filing for Chapter 7 personal bankruptcy did change with the new bankruptcy laws enacted by Congress in 2005, so it is not available for everyone, but if you qualify it could be the solution you need to finally get out of debt. To be able to file under Chapter 7, your family's total gross income must be below the median income for your state and your household size. This figures changes frequently, but generally, the median income for a single filer in Florida is about $40,000, for a two person household (or joint bankruptcy) it is about $50,000, for a three person household, it is about $55,000, and for a family of four, it is about $66,000.

Also, if you have declared bankruptcy before, and that filing was within the past eight years, you will not be eligible for Chapter 7 personal bankruptcy; however, you may be able to file Chapter 13 bankruptcy.

As part of filing a bankruptcy case, you will need to attend a credit counseling class and a debtor education class (both of which can be taken on-line), cooperate with a Trustee assigned by the court, and attend one court hearing.  Also, if you are required to pay income tax, you must have filed income tax returns for the last 4 years.  

Bankruptcy lawyer Meredith Brasca works closely with every client, providing sound legal advice that helps clients save their assets while discharging their debts.