Life Has A Restart Button

Filing for Chapter 7 provides you with a fresh start so that you can begin to immediately rebuild your finances and your credit score. Chapter 7 bankruptcy is an ideal solution for recovering from a financial hardship brought on by job and income interruption, divorce, uninsured medical expenses or excessive credit card debt. It is important to work with a legal team experienced in handling Chapter 7 bankruptcy claims.

At Badgley Law Group, our attorneys have helped countless people just like you hit the reset button on their lives with Chapter 7 bankruptcy. From our office in Orlando, we represent clients throughout central Florida.

Discharge Of Debt

Chapter 7 bankruptcy is the only legal method for discharging an unmanageable and out-of-control debt. Chapter 7 bankruptcy is a process of liquidating a debtor’s nonexempt assets in order to pay off creditors. It is usually the choice of persons without a regular income, little to no assets and who have been unable to service their consumer debt. The typical Chapter 7 debtor has large unsecured debt (such as credit card debt or medical bills) and hardly any assets.

Discharging a bankruptcy releases the debtor from most types of debts; the bottom line, once your bankruptcy is discharged, you won’t be forced to pay those debts. The discharge is a permanent legally binding order that stops any further actions on the part of lenders and collection agents.

The Chapter 7 Bankruptcy Process

If you have exhausted all your other avenues, and you opt for this type of financial relief, you need to be aware of the stipulations required to discharge your bankruptcy. The timing of a discharge is usually 4-6 months are the bankruptcy petition is filed.

After a Chapter 7 discharge, the debts are eliminated permanently.  After the bankruptcy court grants you a discharge, your creditors are barred from ever collecting the debt.

You can learn more about the process of obtaining bankruptcy relief here.

Means Test

Everyone who files for Chapter 7 bankruptcy will be required to take a ‘Means Test.’ If a debtor’s average monthly income over the preceding six months is below Florida’s median income for a similarly sized household, they automatically qualify to file for Chapter 7bankruptcy. You have to be beneath a certain income threshold to qualify. Our lawyers will help you with the test to determine whether or not you would qualify.