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What is Chapter 7 Bankruptcy?

Sometimes, despite all your best efforts you still struggle to pay off medical bills, credit card accounts and other financial obligations. If you’ve reached this point it may be time to consider filing a Chapter 7 bankruptcy to get relief from unpaid debt, and get you back on track financially. By filing Chapter 7 bankruptcy many of your debts will be discharged including hospital bills, credit cards, judgments and unsecured loans. SunCoast Law is one of the largest debt relief law firms in the country and work to help clients get the debt relief they need through a variety of solutions.

Our attorneys have been serving clients together since 1999 and proudly work to help people regain freedom from debt and restore financial well-being once again. Our attorneys would like to discuss your individual financial situation with you. Contact us at (844) 330-2727 to set up a free consultation to explore Chapter 7 bankruptcy or other legal remedies available.

Who Qualifies for Chapter 7 Bankruptcy?

To qualify for Chapter 7 bankruptcy under new bankruptcy laws, you either have to be under the “median income” for your geographical location or pass a “means test”. The means test takes into consideration and your expenses such as retirement income contributions or auto loan payments. While some of our clients have been told they don’t qualify for Chapter 7 bankruptcy based on the means test, we’ve been able to determine it wasn’t performed properly and the client actually does qualify pursuant to it. Even if you don’t qualify to file for Chapter 7, you may still be able to file Chapter 13 bankruptcy.

Debt to be Discharged​​

Certain types of debt cannot be discharged through a Chapter 7 bankruptcy. These include child support, some tax debt, and secured loans tied to property such as your home or auto. In this case however, you can retain assets by making monthly payments and filing for reaffirmation of the debt through the courts.

My Assets and Chapter 7 Bankruptcy

A Chapter 7 bankruptcy is also known as “liquidation” bankruptcy since the trustee assigned to your case can seize certain assets you own to payoff your creditors. Under Florida bankruptcy law, certain property is exempt such as, your home’s equity and up to $1000 of equity in your auto or other personal property, ($4000 if you have not filed for Florida’s homestead exemption). Our attorneys are skilled at helping clients to retain assets through exemptions.

Additional Chapter 7 Benefits

While Chapter 7 bankruptcy eliminates unsecured debt for clients, it can also halt the process of the following:

To speak with an Orlando Bankruptcy Attorney or help with Foreclosure Defense, please call (800) 535-3215.


Means Test

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 7 vs Chapter 13

Chapter 13 Bankrutpcy Timeline


Free Consultations For Valuable Solutions

If you need to find a solution, contact a member of our team. SunCoast Law can help! We offer free initial consultations to all of our clients and would be happy to meet with you one-on-one.

What People Say?

Frequently Asked Questions

It is the least expensive and fastest way of eliminating all of your debts.
It varies based completely on the size of your family. Your children under the age of 18 are included as family members.
The vast majority of those filing for Chapter 7 lose zero to very little by filing to eliminate their debts assuming you or your attorney knows what she is doing.
We have a credit restoration program that can rebuild your credit within 6 months of completing your bankruptcy.
The answer is it depends. In Florida, your primary residence is 100% protected from your creditors in most instances. Your automobiles can be protected with exemptions that are given to each debtor when filing a bankruptcy.
Yes. Your credit score will just naturally go higher as time goes on after the bankruptcy is over, but that may take 18-24 months. There are things that can be affirmatively done by you to boost your score back to “good” again within 6 months. We offer a credit restoration program that does this.
As long as you are current on your mortgage and you reaffirm your mortgage debt in the bankruptcy, your lender cannot force you from your house or do anything to take your home from you. If you are not current on mortgage, then your mortgage lender will have every option available to it after the bankruptcy as it did prior to the bankruptcy beginning.
If your house has a mortgage on it, then your lender will have to foreclose on the house after the bankruptcy has ended in order to get it back. The lender is precluded from beginning or resuming the foreclosure process while the bankruptcy is pending unless the court gives it the permission to do so.