What is Chapter 7 Bankruptcy?

As an Orlando bankruptcy attorney, I have successfully represented thousands of clients over the last 10 years and helped them get a fresh start financially by filing Chapter 7 bankruptcy.

A Chapter 7 bankruptcy allows an individual to completely eliminate most of his or her unsecured debtwithout having to pay this debt back to creditors.  Through a Chapter 7 bankruptcy, a person may also choose to surrender collateral, like a car or house, back to a creditor and not be held liable for the debt owed on the collateral.  In the vast majority of Chapter 7 cases, my clients are able to not only eliminate debt, but also make use of the various exemptions available to them under state law and the U.S. Bankruptcy Code to protect their assets.


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Are You Eligible to File Chapter 7 Bankruptcy?

A person must meet certain income requirements to be eligible for Chapter 7 bankruptcy relief.  The“Means Test” is a very long form that is part of your bankruptcy petition used to determine whether you qualify to file a Chapter 7 bankruptcy.  As your Orlando bankruptcy attorney, it is my job to analyze the 6 months of income you earned prior to filing your case to determine if you “pass” the Means Test and can file a Chapter 7.

Generally speaking, if your income is lower than the median income for the size of your household in the state where you are filing the bankruptcy, then you meet the financial requirements to be eligible to file a Chapter 7 bankruptcy.  This determination is made after a careful review, by your Orlando bankruptcy attorney, of all of your household income for the 6 month period of time prior to your case being filed.

It is important to understand that “passing” the Means Test is only one consideration to take in to account when deciding if filing Chapter 7 bankruptcy is a good option for you.  For example, you may meet the income requirements to file a Chapter 7 bankruptcy in Orlando, but you may have assets whose value exceeds the amount you are allowed to protect in a Chapter 7 bankruptcy.  In this situation, perhaps filing a Chapter 13 bankruptcy would be a better option for you because in a Chapter 13 bankruptcy you can protect assets you would otherwise lose in a Chapter 7.

As an experienced Orlando bankruptcy attorney, I can not only help guide you through the qualification process for a Chapter 7 bankruptcy, but also advise you on whether, based on your financial goals, it is wise for you to go ahead and file Chapter 7.

If you would like to discuss whether you qualify for a Chapter 7 bankruptcy, please feel free to contact me for a free evaluation of your case. 407-898-8225

You Deserve A Fresh Start Today.

Helping Orlando get out of debt since 2002
(407) 898-8225

Should I File Chapter 7 or Chapter 13 Bankruptcy?

One of the most common questions my clients ask me as their Orlando bankruptcy attorney is “Should I file Chapter 7 or Chapter 13 bankruptcy?”

Of course, one of the main reasons you would hire a bankruptcy attorney is to help you decide which Chapter of bankruptcy best suits your individual facts and circumstances.  Basically, if you meet the income requirements to file a Chapter 7 bankruptcy, as described above, you have no assets that you would lose, and the debt you have is dischargeable, then filing Chapter 7 bankruptcy may be the best option for you.

If, however, you are behind on a mortgage payment and want to try to save the home from foreclosure or if you have assets that are to valuable to protect in a Chapter 7 case, then filing a Chapter 13 bankruptcy may be the better option for you.

The decision on what Chapter of bankruptcy to file is totally dependent on the specific facts of your case and the goals you want to accomplish.  For example, just because a friend or relative filed a Chapter 7, that does not necessarily mean that a Chapter 7 is right for you.  With the help of an experienced Orlando bankruptcy attorney, you can navigate through the decision making process and feel comfortable about your ultimate decision on what Chapter of bankruptcy to file.

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Hiring an Experienced Orlando Bankruptcy Attorney is Important

Now, more than ever, it is vitally important to hire an Orlando bankruptcy attorney who has handled hundreds of cases in front of all of the Chapter 7 Trustees, who has a clear understanding as to how the Chapter 7 bankruptcy process works in Orlando, and has an intimate knowledge as to how our Orlando bankruptcy judges have ruled on Chapter 7 issues in the past.

In the last few years, as the economy and local real estate market has deteriorated, I have witnessed an influx of “new” bankruptcy attorneys flood the market.  Attorneys who were practicing other areas of law as recently as 1 year ago, and have never stepped foot inside of the Bankruptcy Court until recently, are now representing several debtors in Chapter 7 and Chapter 13 bankruptcy.

As with anything else in life, there is a definite learning curve involved in practicing bankruptcy law.  Don’t let your case be the “guinea pig” for an attorney just getting his or her feet wet in the bankruptcy law arena.  You future financial viability depends on it.  Call me for a free evaluation of your case 407-898-8225

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Why Choose Us?

At my Orlando Bankruptcy Law Firm of K. Hunter Goff, P.A I limit my practice to helping people file bankruptcy and receive protection from creditors under Chapter 7 and Chapter 13 of the United States Bankruptcy Code.

Over the years, bankruptcy has evolved into a specialized area of law.  I take pride in knowing how the Orlando Bankruptcy Judges, Trustees, and Creditors’ Attorneys interpret the Code.  I use this knowledge to ensure that my clients know what to expect when they file for bankruptcy. I take a non judgmental approach to the decision my clients make to file for bankruptcy.

I understand that you probably have tried every other possible financial alternative before deciding to contact an Orlando bankruptcy lawyer.  Please allow me, an experienced Orlando bankruptcy attorney, to show you how I can help you by calling 407-898-8225, for your free case evaluation.

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