Chapter 7 Bankruptcy


If paying off credit card debt, medical bills and other obligations seems impossible, it may be time to consider whether bankruptcy is a possible solution. Filing for a Chapter 7 bankruptcy could provide the fresh start you need.

Filing Chapter 7 bankruptcy allows you to obtain a discharge of debts such as credit card bills, lawsuit judgments, payday loans and hospital bills. The Law Office of Kevin C. Maxwell is dedicated to helping our clients get the financial relief they need through the bankruptcy process.

For a free initial consultation to determine if you qualify for Chapter 7 bankruptcy, please call 407-849-2949 or contact our law firm online.


Who Can Qualify for Chapter 7 Bankruptcy?

Under theĀ  bankruptcy laws, you must first pass a means test to file Chapter 7 bankruptcy. If your current monthly income is below the Florida adjusted median income, you can file Chapter 7 bankruptcy. However, even if your income is above the Florida adjusted median income, you may still be able to file after expenses such as car payments and retirement plan contributions are deducted from your income.


If you don’t qualify for Chapter 7 bankruptcy, you may still be able to obtain the debt relief you need by filing Chapter 13 bankruptcy.

There are certain debts that cannot be discharged in Chapter 7 bankruptcy, including child support, taxes and debts that are secured by property, such as your home and your car. However, you can keep these assets by making payments and filing a reaffirmation agreement with the court.


Will I Lose My Assets by Filing Chapter 7 Bankruptcy?

Chapter 7 is sometimes referred to as “liquidation” bankruptcy because the bankruptcy trustee can seize assets to pay your debts. However, certain property is exempt from seizure in Florida. Exempt property includes all equity in your home, up to $1,000 of equity in your car, and up to $1,000 in other personal property.


What Are the Additional Benefits of Chapter 7?

In addition to eliminating unsecured debt, filing Chapter 7 bankruptcy puts an immediate stop to:

  • Home foreclosure
  • Eviction
  • Wage garnishment
  • Repossessions
  • Creditor harassment

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