Chapter Bankruptcy Lawyers in Jacksonville, FL


If you’re struggling to manage unpaid debt, bankruptcy may provide much-needed relief. Under Chapter 7 bankruptcy, most of your unsecured debt is forgiven, allowing you a chance at a fresh start. Below, learn more about how a Chapter 7 bankruptcy attorney at Gahanian Law, PA can help you regain control of your finances.

What is Chapter 7 Bankruptcy?

Latin descent man and woman struggle to pay their monthly bills. They are calculating expenses versus budget income and are upset. Many invoices, laptop on living room coffee table. Children in kitchen background. Mid-adult age couple. Frustration among middle-class people. Great imagery for election season: home finances, recession, past due bills, mortgage, debt, stress, worry, taxes.Bankruptcy is a legal process where you get relief from your unsecured debts, such as credit card debt, medical bills, and personal loans. If all you have are exempt assets, your creditor may simply have to erase your debt.

Compared to a Chapter 13 bankruptcy, a liquidation bankruptcy is relatively fast; it may only take six months to complete the entire process. Because the process is quicker, it will also cost you less time and money.

Understanding the Process

For a Chapter 7 bankruptcy, you must show that you do not have the financial ability to pay your debts. The Bankruptcy code calls for an evaluation of your annual household income and then compares it to Florida’s median income for the same-sized family. This is known as the means test. Many factors can impact your eligibility and the means test requires complex calculations. For this reason, it’s best to consult with a Jacksonville FL bankruptcy lawyer before filing under Chapter 7.

The Role of the Trustee

Once you determine your eligibility and file the appropriate paperwork, your Chapter 7 bankruptcy case will begin. The court will appoint a bankruptcy trustee who will oversee your case. The Trustee’s job is to review the case for assets and to verify the accuracy of the bankruptcy forms that are submitted to the court

Do I Qualify?

Not everyone qualifies for Chapter 7 bankruptcy. To be eligible, you must pass a complicated means test that evaluates your financial liquidity. If you have significant financial resources, you may have to consider a Chapter 13 bankruptcy. Because the means test considers a wide variety of factors, including your income, it’s best to consult with a Chapter 7 bankruptcy lawyer in Florida before you file.

At Gahanian Law, we can help you understand whether you qualify for Chapter 7 bankruptcy in Florida. We can also help you weigh your debt relief options and choose a path forward that best suits your needs and circumstances.



Consult With a Bankruptcy Attorney Today

Deciding whether or not to file for Chapter 7 bankruptcy is an important and potentially difficult decision. However, when properly planned and executed, bankruptcy is a powerful tool that can help you recover after a financial crisis. To learn more about your debt relief options, contact a bankruptcy attorney at Gahanian Law, PA.

We offer free, confidential consultations. Just as importantly, we pride ourselves on our practical and respectful approach. We treat our clients with the dignity they deserve and help them make the best possible decisions about their financial future. Contact us today to learn more.

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Gahanian Law, PA
3840-1 Williamsburg Park Blvd.
Jacksonville, FL 32257

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