Chapter Seven Bankruptcy in Florida
Bankruptcy is unique to the state that it is filed in this article will discuss chapter seven bankruptcy in Florida. Bankruptcy is a legal procedure through which entities or individuals who can’t pay off debts to financial lenders can seek relief from partial or total repossession of assets. In many jurisdictions, bankruptcy is legally imposed by a judge order, usually initiated by the creditor. The court delegates a bankruptcy court official to act on behalf of the creditors. The trustee will then sell any assets of the debtor that are considered by the court as having an interest in the debt repayment. This is the trustee’s sale of properties and assets held by the individual or entities.
For filing bankruptcy in Florida, you will need to first contact your local bankruptcy Attorney. There, you will be given an application to fill out. The application must contain certain information and data pertinent to your bankruptcy, such as the reason why you are filing for Chapter seven bankruptcy, your filed bankruptcy, and the names and addresses of your creditors. If the bankruptcy court finds reasons to believe that your case meets the requirements for filing, it will then proceed with the bankruptcy hearing. At this point, the bankruptcy court will determine if you meet the requirements for filing, and if so, the court will set a date for the bankruptcy hearing.
When you file for bankruptcy in Florida, you will be required to obtain the services of an attorney. A legal services company will usually provide these services free of charge. However, in some cases where debt is a major issue, a bankruptcy lawyer may be required to be brought in. Florida law specifically addresses the matter of legal services when filing for bankruptcy. Therefore, if you are in need of legal services, you should contact a bankruptcy lawyer in Florida right away.
Another option that is available for those in need of legal services relating to filing for chapter seven bankruptcy in Florida is the Exempt Debt Collection Practices Act. The purpose of this act is to protect the rights of consumers that are adversely affected by creditors that fail to repay an agreed-upon debt. This includes a failure to make an Exempt Debt Collection Practices statement, failure to make payments on a debt, and failure to respond to an initial demand for repayment. With this in mind, a creditor who fails to make an Exempt Debt Collection Practice statement could be forced into bankruptcy proceedings. This could result in not only an additional financial burden but also in legal actions being taken against the company.
A fresh start might be necessary for many people, and filing for chapter seven bankruptcy in Florida might be just the ticket for a fresh start. The goal of filing for chapter seven bankruptcy is to provide the debtor with a fresh start. A fresh start would include a new slate with new legal obligations. If the consumer is able to pay off the debts owed to creditors, this new slate should provide the consumer with a fresh start where they can start anew.
A chapter seven bankruptcy in Florida is not right for every debtor. Only those individuals that are able to prove that they have become unable to manage their debt or that they have become physically or mentally unfit to repay their debts will likely be eligible for chapter seven. Those that are eligible can begin the process by filing their own application for chapter seven. If no application is received for the borrower, the court will provide the opportunity for an assigned bankruptcy trustee to file the application on the behalf of the individual. Once it has been filed, the court will immediately notify the creditors of the decision. Contact us today for further information or if you are interested in filing for bankruptcy.