South Florida Chapter 7 Bankruptcy Lawyers Work to Discharge Debts
Boca Raton attorneys help clients stop harassment from creditors
When debt problems get so serious that there is no reasonable way out, Chapter 7 bankruptcy offers people the chance to retire existing obligations and make a new start. Located in Boca Raton, Shapiro, Blasi, Wasserman & Hermann helps Florida clients take advantage of the legal tools that exist to stop collection harassment and restore their financial stability. We’ll examine your situation in detail and advise you if debt discharge under Chapter 7 is the best way for you to move forward, or if another option best suits your needs.
Palm Beach County firm strives to give debtors a fresh financial start
As accomplished bankruptcy attorneys, we’ve helped numerous individuals and businesses remove the debt burden that has been haunting them. If you’re unsure about what bankruptcy can do, we offer a free initial consultation to discuss key matters such as:
- Eligibility — Chapter 7 bankruptcy is a powerful tool, but it is only meant for certain situations. Chapter 7 filers must pass a mean test, which prevents someone from filing if their income or assets exceed a certain level. You can also be rejected if you have sought bankruptcy protection within the last several years. If you are not eligible to file under Chapter 7, many individuals opt for Chapter 13 “wage earner” bankruptcy, and businesses may qualify for Chapter 11 filings. Our lawyers review your circumstances before helping you decide how to proceed.
- Automatic stay — Once your bankruptcy filing is accepted, you’ll see immediate relief because an automatic stay will be entered. This will stop the letters and telephone calls from creditors and collection agencies. Perhaps even more importantly, creditors will not be able to take action against you by repossessing property or cutting off utility services.
- Creditors’ meeting — In most cases, someone filing for Chapter 7 bankruptcy only has to attend court for a meeting with their creditors that is convened by the trustee. Here, parties can detail their claims while our firm explains what assets might be available as a partial payoff.
- Liquidation — To pay what is owed to creditors, certain assets can be liquidated, or sold off. Certain items may be protected from liquidation under Florida law, including retirement plans and the home you maintain as your personal residence (known as the homestead exemption). However, assets can be handled differently based on their value and how long you’ve lived in the state. We’ll apply the relevant rules to your situation and will tell you what to expect.
- Discharge of debts — Once the court approves and finalizes the bankruptcy order, your nonexempt debts are eliminated and you can start a new financial chapter. It’s important to remember that past-due taxes, student loan debt and back child support payments typically are not forgiven as part of the discharge.
While it can be a difficult decision to file for bankruptcy, it’s important to understand it as a legal solution created to assist people and businesses in the same situation as yours. We never forget that and assert your rights vigorously throughout Chapter 7 proceedings while treating you with the respect you’re entitled to.
Contact an established Florida Chapter 7 bankruptcy lawyer for a free consultation
Shapiro, Blasi, Wasserman & Hermann represents South Florida clients in Chapter 7 bankruptcy proceedings. To make an appointment for a free initial consultation at our Boca Raton office, please call 561-235-3286 or contact us online.