Coconut Creek Chapter 7 Bankruptcy Attorney
Thousands of Americans in the country seek out bankruptcy relief every year, with Chapter 7 being one of the most chosen options. Bankruptcy is a legal tool to help you take control of your life and your debt and save you from financial ruin. If you’ve lost your job, are suddenly facing unexpected debts, or had to take care of a sick relative, you may be feeling overwhelmed and unable to get caught up on your finances. Chapter 7 bankruptcy is an option that will allow you to wipe the slate clean and give you an opportunity to start fresh.
In Coconut Creek, the Law Offices of Barry S. Mittelberg will guide you through the bankruptcy process. Having the experience of a Coconut Creek Chapter 7 bankruptcy attorney on your side can make the process less stressful and increase your chance of a successful discharge.
How Chapter 7 Bankruptcy Works
Once you file your Chapter 7 petition, your creditors will be notified of the bankruptcy and they will be bound by the automatic stay. This tells them to stop any debt collection efforts while your bankruptcy is proceeding. This will include repossessions, foreclosures, lawsuits, wage garnishments, and any other bill collections efforts.
Your Coconut Creek bankruptcy attorney will sit down with you to create a complete list of your assets and debts. The trustee for your bankruptcy case will decide whether or not you need to sell off any assets to pay off some creditors, or declare your situation a “no asset case,” which means you won’t be required to sell off any assets.
The meeting with the bankruptcy trustee is a quick interview, and then the decision to discharge your unsecured debts will be made. This will free you from any obligation to repay those debts. Unsecured debts are ones that are not secured by personal or real property, and it typically includes debts like medical bills, credit cards, personal loans, some tax loans, lawsuits, etc.
Chapter 7 Bankruptcy Exemptions
Many people get to discharge debt without needing to sell any property because they don’t have non-exempt property that the bankruptcy trustee decides is worth selling as part of your Chapter 7 case. Florida law also includes a number of exemptions worth noting of items you would not need to sell in your Chapter 7 bankruptcy:
- Personal property
- Insurance and Pensions
- Public Benefits
- Child Support
- Injury Compensation
- Certain Other Assets
The bankruptcy attorneys at Barry S. Mittelberg, P.A., will help you maximize all the Florida bankruptcy exemptions wherever possible and help you obtain a no-asset bankruptcy whenever possible.
Contact Our Coconut Creek Bankruptcy Attorneys Today
If you need assistance with getting out from under your mountain of debt, contact the Law Offices of Barry S. Mittelberg, P.A. today to schedule an initial consultation.