What is Chapter 7 bankruptcy in Jacksonville? Most would agree it’s a fresh start. A way to relieve your debt and get on with your life. Bankruptcy can also be an opportunity to reorganize your finances, something which can have positive long-term benefits for you and your family.
Chapter 7 bankruptcy is the liquidation of all assets that are not exempt from creditors. This type of bankruptcy discharges the debt of the individual who has successfully completed it. The discharge means that the debt can no longer be repaid and cannot be collected.
How Can Chapter 7 Bankruptcy Help You?
If you’re considering Chapter 7 bankruptcy, it’s important to understand how this type of debt relief can help you. Chapter 7 bankruptcy is often the best option for individuals who wish to eliminate their debts completely.
Here are some of the ways that Chapter 7 bankruptcy can help:
1. You Can Keep Your Property
Under Chapter 7 bankruptcy, most types of assets are protected from creditors and can be kept by the debtor. Some assets will be sold to pay off creditors, but others may be exempt from seizure or liquidation. In many cases, this includes homes, vehicles, business equipment, and even retirement accounts.
2. You’ll Receive a Fresh Start in Life
You’ll no longer have to worry about being contacted by creditors or having them harass you about unpaid bills. Once the bankruptcy process is completed, your old debt will be wiped away as if it never existed – which means that you can focus on building a brighter future for yourself and your family without worrying about paying back old debts every month.
3. Creditors Will Stop Harassing You
The automatic stay protection will be invoked immediately after we file your case. All harassing and intimidating phone calls by creditors will stop. Many of our clients feel reassured by this. The automatic stay will prevent any further collection actions against you during the bankruptcy process. It is illegal for creditors to send harassing telephone calls or continue to write letters after the automatic stay has been invoked. Any lawsuits, including foreclosures, will be stopped or postponed immediately. Bruner Wright’s experienced Jacksonville bankruptcy lawyer can help you file the necessary paperwork to protect yourself from creditors.
What Is the Process After I Hire a Chapter 7 Bankruptcy Lawyer?
Bruner Wright’s Chapter 7 bankruptcy lawyer in Jacksonville FL will meet with you to discuss the process and help determine if Chapter 7 bankruptcy is right for you. There are many types of bankruptcy that a person could file, and our bankruptcy firm is here to guide you all the way. We will answer all your questions and help you understand the documentation that is required to start the process.
The following information is required to complete the Official Bankruptcy Forms. This includes the petition, statement, financial affairs, as well as schedules:
- A list of all creditors with the amounts and nature of their claims
- The source, amount, and frequency of income received by the debtor
- A listing of all the property owned by the debtor
- The debtor’s monthly living expenses, i.e. food, clothing, shelter, and utilities. Taxes, transport, and medicine are all included in this detailed list.
Your Jacksonville FL Chapter 7 attorney will guide you step by step through the process. We’ll get you there with minimal stress so that you can move on with your debt-free life!
Get a Jacksonville Chapter 7 Bankruptcy Lawyer Today
It can be difficult to enjoy life when you are burdened with debt for many years or months. While we all do our best to repay our debts, sometimes we fail to succeed. This is the right time to take a step back and look at other options. Bruner Wright’s Chapter 7 bankruptcy lawyer can help you evaluate your legal options and create a path forward at a reasonable rate.
Bruner Wright can help you determine the best course of action for your individual needs, protect your assets and offer sound legal advice on how to overcome the challenges you are facing. We’ve made it our goal to provide excellence in personal representation and we’re proud that our reputation as a quality bankruptcy law firm is continuing to grow from Tallahassee to Jacksonville, Florida.
Contact us today to learn more about how a Chapter 7 bankruptcy attorney can help you make a better future.