Chapter 7

Chapter 7 Bankruptcy Lawyer Fort Pierce and Fort Lauderdale:

One avenue of resolution of financial difficulties is seeking protection through the filing of Chapter 7 bankruptcy. At the Law Offices of Peggy Cruz-Townsend, P.A. in Fort Lauderdale and Broward County, I help my clients understand their options and what filing for Chapter 7 bankruptcy means to them. I am skilled at handling many different types of debt relief matters, including Chapter 7 bankruptcy. Contact me to learn more about how I may be able to help you.

What is Chapter 7 Bankruptcy?

The most common form of bankruptcy proceeding, Chapter 7 involves the liquidation of your dischargeable debt. This is also sometimes called “fresh start” bankruptcy, as you are able to start over once most of your debt is erased. Some assets may be sold and used to pay off your creditors.

Typically, a Chapter 7 bankruptcy case begins with the filing of a petition with the bankruptcy court. The process also includes your attendance at a meeting of your creditors and a subsequent discharge of debts by the bankruptcy court.

The Means Test

In some instances, individuals will have to pass a means test to qualify for Chapter 7 bankruptcy protection. The means test is an analysis of a debtor’s living expenses to determine whether a bankruptcy candidate has any disposable income with which to pay back all or part of the underlying debt. If there is enough disposable income, the individual will have to file for Chapter 13 bankruptcy and pay back most or all of the debt.

To learn more about your Chapter 7 bankruptcy options, contact me  at The Law Office of Peggy Cruz-Townsend, P.A., located in Fort Lauderdale. I have many years of experience as an attorney and can help you fully understand your situation and how you may be able to regain financial control. My bankruptcy practice also includes helping clients with how to stop wage garnishment, how to deal with credit card debt and prevent repossession.

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