Central Florida Chapter 7 Bankruptcy Attorney

If you are contemplating filing for Chapter 7, there are things you understand about the process, and things you're probably less sure of.

 

Personal Bankruptcy

People know that in a liquidation proceeding, some of your property is exempt from liquidation and some isn't. Under Florida law, these items are typically exempt from liquidation:

 

  • Your primary residence

  • Your car (under certain circumstances)

  • Household goods like furniture and clothing (within certain limits)

  • Your tax-exempt retirement accounts such as IRAs, 401(k) accounts and company profit-sharing plans — often even if they are substantial

  • Your insurance policies and benefits, including your Social Security

 

Bankruptcy law is complex, however. Speak to an experienced bankruptcy lawyer like Robert F. Hooglandabout your situation before you make legal assumptions.

 

The Automatic Stay

If you have been stressed out by persistent bill collectors, or are having your paycheck garnished where you work, you will appreciate the power of the automatic stay that is invoked the moment your Chapter 7 papers are filed.

 

The filing occurs electronically, and creditors are informed almost immediately that they may not contact you for payment in any way. The phone should stop ringing, and the bills should stop filling the mailbox. Your filing is now backed by the power of state and federal law.

 

Chapter 7 and Foreclosure

If your home is being foreclosed on, you may want to consider Chapter 7 or Chapter 13 as a strategy for keeping it. Robert F. Hoogland is Board certified in real estate law, and his law office does foreclosure defense as well as bankruptcy. So he makes the connections between foreclosure and bankruptcy better than most firms.

 

Orlando Debt Relief Attorney

We will be happy to discuss exemptions, foreclosures and the details of Chapter 7 in greater detail when we meet.

Need to get out from under unpayable debt? E-mail Altamonte Springs Chapter 7 bankruptcy attorney or call him at 407-862-4909.

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