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Bankruptcy Content

Chapter 7 Bankruptcy Lawyer in St. Petersburg

What is Chapter 7 Bankruptcy?

Searching for an attorney for a Chapter 7 bankruptcy case in St. Petersburg? Filing a Chapter 7 bankruptcy has the primary purpose of eliminating a legal obligation on unsecured dischargeable debts. Once discharged, the debtor has no liability for discharged debts. Bankruptcy law can eliminate your legal obligation on secured debts for things like a personal residence or automobile. Debtors sometimes reaffirm debts, keeping commitments to pay some items and legally reinstating prior legal obligations.

What is dischargeable under Chapter 7?

Individuals may file for bankruptcy under Chapter 7 ("straight bankruptcy", or liquidation). Chapter 7 bankruptcy allows you to keep certain exempt property. Each state has its exemptions and exemption limits. Items not exempted are liquidated, turned in, or reaffirmed.

Chapter 7 covers debts including:

  • Personal loans
  • Medical bills
  • Credit card bills

Some items are not dischargeable in Chapter 7. These include:

  • Student loans
  • Alimony payments
  • Income tax
  • Court-ordered fines and penalties
  • Property taxes

For specific information about your exempt property, it is best to speak to Attorney Hancock at our firm.

Looking for an attorney for your Chapter 7 bankruptcy in St. Petersburg? Chapter 7 allows you to get a fresh start over a period of a few months. A stay is imposed during the bankruptcy process. This stay prevents all listed creditors from contacting you or your family, and from attempting in any way to collect the debt. A discharge of debt is forever; once discharged, a debt can never be collected or attempted to be collected from you.

How Does the Means Test Work?

The means test has two components. The first part assesses the income of the debtor. Your income is compared against the median income for those in your home state. If your income is less than the median income, you qualify under this aspect of the means test. If your income is above the median income, the second part of the means test is used. This second part examines the income as it relates to necessary expenses. The excess or disposable income determines if you qualify for Chapter 7 or not.

Take Legal Action Today

Need a lawyer for your Chapter 7 bankruptcy in St. Petersburg? If you need assistance in understanding or filing a Chapter 7 bankruptcy, contact the principal lawyer at our firm. We have focused on handling all types of bankruptcy cases throughout Tampa Bay and offer a free case assessment for prospective clients seeking solutions to overwhelming debt. Do not be afraid to ask for help. Come in to inform yourself of your options and rights under bankruptcy law.

St. Petersburg Chapter 7 Resource Links
Florida Means Test Calculator
U.S. Bankruptcy Courts
U.S. Courts – Bankruptcy Resources
Experian Credit Reports
Trans Union, LLC Free Credit Score
Chapter 7 Liquidation Overview

St. Petersburg Chapter 7 Articles
Will Bankruptcy Discharge All My Debt?
Bankruptcy Do's And Don'ts
Chapter 7 Bankruptcy Basics
NOLO – Filing a Chapter 7 Bankruptcy
Expert Law – Chapter 7 Bankruptcy

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.