Apollo Beach Attorneys for Credit Card Debt Relief
Chapter 7 bankruptcy is one of the simplest, fastest ways to achieve debt relief. If you are struggling with severe debt problems, it is important to weigh all of your options. People throughout Hillsborough County and the South Shore have turned to the the lawyers of Nicole M. Cameron, P.A.. We have helped a number of people achieve debt relief through the Chapter 7 process.
How Does Chapter 7 Work?
In a Chapter 7 bankruptcy, your nonexempt assets will be liquidated, or sold, to pay your creditors. If you have a lot of assets that could be liquidated in Chapter 7, this type of debt relief may not be in your best interest.
At your first consultation at our law firm, you will meet with one of our lawyers. We will discuss your finances in great detail to see whether you stand to lose substantial assets in Chapter 7, and what you can keep in bankruptcy. If bankruptcy is right for your situation, we will then help you decide what kind of bankruptcy best meets your needs. In order to be able to file for Chapter 7 bankruptcy, you will have to pass what is known as the means test.
In order to pass the means test, you must be able to show that your household income is less than the median income for a household of the same size. In Florida, the current median incomes are as follows:
- One-person household — $40,029
- Two-person household — $50,130
- Three-person household — $54,594
- Four-person household — $65,135
If your household income is above this level, you may still qualify for Chapter 7 depending on your levels of unsecured debt and disposable income. If you do not qualify for Chapter 7, you are still eligible for Chapter 13 bankruptcy.
Assuming you are eligible for Chapter 7 bankruptcy, our law firm can prepare your bankruptcy petition. Your petition will include information about your debts, the property you own, your household income and other relevant information. Once your bankruptcy petition is filed, the Bankruptcy Court will issue what is known as the automatic stay. With the automatic stay, your creditors will not be able to take any further action to collect on your debts. This means no more lawsuits, garnishments, liens, threatening phone calls or letters.
Once your petition is filed, there will be a "Meeting of Creditors." In this meeting, your creditors may ask you questions about the nature of your debts. We will be at your side during this meeting. If your case is like most Chapter 7 cases, you will not have any assets to liquidate. Sometime after the Meeting of Creditors, the bankruptcy judge will issue a discharge.
Once you receive your discharge, your creditors will be permanently barred from attempting to collect on your debts. Your discharge may not apply to all of your debts, however. Alimony and child support debts cannot be discharged in bankruptcy. Most tax debts are not dischargeable. Student loan debts are almost never dischargeable. When you work with our Hillsborough County Chapter 7 bankruptcy attorneys, you can take comfort knowing we will work hard to help you get meaningful debt relief.
Contact Nicole M. Cameron, P.A., Today • 813-645-8787
If you are ready to talk about your debt relief options, we are ready to talk to you. Call or e-mail our law firm to schedule your free initial consultation.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.