Chapter 7 Bankruptcy

chapter 7 lawyers orlandoDo you live in the Orlando, Florida area and find yourself facing financial uncertainty due to job loss, divorce, death of a spouse, huge amounts of unsecured debt such as credit cards or medical bills? Are you facing eviction or foreclosure due to being in arrears on rent or your mortgage? Are vital utilities about to be shut off? Do you wonder if when you leave the house in the morning for work if your car was repossessed in the middle of the night due to missing car payments? Lastly, do you cringe every time your phone rings (provided it has not been disconnected for not paying the bill) as you know it is another creditor wanting their money?

If you are facing any of these scenarios, or others, you may be able to obtain the relief you need by filing Chapter 7 bankruptcy. Consulting with an experienced bankruptcy attorney serving all of Orange County, Florida is a wise move. Contact Orlando Chapter 7 Bankruptcy Attorney Meg Lyons to discuss what options you may have. Dial (407) 476-3437 for a free consultation.

What is Chapter 7 Bankruptcy?

This is a liquidation of assets or “straight bankruptcy.” In a Chapter 7 bankruptcy, debtor’s non-exempt assets, if any, are sold by the Chapter 7 trustee that is assigned to the case and the proceeds distributed to creditors according to the priorities established in the Code. Eligibility to file Chapter 7 is determined by the means test instituted with the 2005 amendments to the bankruptcy code. In the majority of consumer cases, all the assets are exempt, and therefore there are no assets to liquidate and there is no dividend paid to creditors. Chapter 7 is generally the simplest and quickest form of bankruptcy and is available to individuals, married couples, corporations and partnerships.

Especially in trying financial times, the only feasible solution may be declaring bankruptcy. While there are several different types of bankruptcy, filing a Chapter 7 is the most common and most effective. The parameters of a Chapter 7 allow for most existing unsecured debt to be nullified. There are certain exceptions such as child support, certain student loans and tax debts. A well-timed bankruptcy gives our clients an opportunity to start over financially.

Is Chapter 7 the Best Option for You?

Orlando bankruptcy lawyer Meg Lyons assists people throughout Orange County, Florida with a wide range of bankruptcy and debt relief options. One of those is a Chapter 7 bankruptcy. A Chapter 7 is also commonly referred to as debt liquidation. In the liquidation process, a debtor is expected to turn over his or her assets to the bankruptcy trustee; however, in the vast majority of cases, an experienced attorney is able to apply a variety of exemptions to allow a debtor to keep all of his or her property and avoid having any of it sold. As soon as a bankruptcy is filed all creditors must cease contact with you and stop any and all debt collection attempts. These attempts include things like:

Vehicle repossession defense

Wage garnishment

Foreclosure proceedings

In Florida, the average liquidation process takes approximately 120 days to be completed. At this point all applicable debts are discharged and you are able to start over financially. Many people worry about the effect a bankruptcy will have on their credit score, but a conscientious person is typically able to rebuild his or her credit to a decent score within a few years after bankruptcy.

Who Qualifies for a Chapter 7?

Chapter 7 is an option for both individuals and businesses. In terms of a business declaring a Chapter 7, it is important to understand and remember that the business itself will be liquidated and will no longer be a going concern once the process is completed.

The bankruptcy attorneys at Lyons Law, have handled many Chapter 7 cases. In addition, they have experience in handling other types of bankruptcies such as Chapter 13 and Chapter 11. Ms. Lyons and her staff have the knowledge and know-how to properly handle your case.

A bankruptcy that is not managed properly can leave you back at square one with your debt and creditors; filing without a skilled attorney can sometimes do more harm than good. It makes sense to enlist the aid of a competent bankruptcy lawyer. Our goal is to offer our clients the best chance of getting out from under their debt as painlessly as possible.

Contact An Orlando Bankruptcy Lawyer

If you, or your family is suffering from debt, the bankruptcy attorneys at Lyons Law can help. Please contact us today at (407) 476-3437 to speak with an Orange County bankruptcy lawyer. Initial consultations are free for potential bankruptcy cases. You can also e-mail the firm.

Family Law Attorney Meg Lyons proudly serves the greater Orlando metropolitan area including Orlando, Kissimee, St. Cloud, Buenaventura Lakes, Sanford, Oviedo, Longwood, Casselberry, Lake Mary, Apopka, Winter Springs, Altamonte Springs, Daytona Beach, South Daytona, New Smyrna Beach, Port Orange, Ormond Beach and Volusia, Florida.

‘We are a debt relief agency. We help people file bankruptcy under the Bankruptcy Code’.