It's safe to say that most people considering bankruptcy would rather discharge their debt completely by filing Chapter 7. The truth is, however, that Chapter 7 isn't the right debt relief option for everyone's debt problem, nor does everyone qualify under the new means test, implemented by the U.S. Congress in 2005. Your eligibility for Chapter 7 is based on your disposable income. Simply put, if the results indicate that your income and non-exempt assets are above a certain percentage of your consumer debts, for your individual or family circumstances, the law says you will have to file for Chapter 13.
In addition to the means test, individuals may not be eligible for discharging debt under Chapter 7 bankruptcy if they have previously had their debts discharged within the past eight years. You can still file Chapter 7 for protection from creditors, but you will not be eligible to have your debts discharged. If you are not eligible for a Chapter 7 discharge, you may be eligible for a discharge in a Chapter 13 case. Schedule a free initial consultation to find out more!
The Golden Law Group has been helping people meet the eligibility requirements for Chapter 7 bankruptcy for years. Knowing what counts as legitimate income, assets and debts can make an important difference to the outcome of the test. Despite the myths the credit card industry wants people to believe, most people still qualify for Chapter 7 debt discharge, under the new laws.
The more you understand about eligibility requirements and the bankruptcy process, the more you will realize that Chapter 7 may be the opportunity you are looking for to get a fresh start from debt. If you are eligible, you can start with one affordable down payment on the retainer fee. Starting that very day, you can tell creditors and debt collectors that you have a lawyer. By law, they will have to take all further collections actions through The Golden Law Group.
Are you eligible for Chapter 7 under U.S. and Florida bankruptcy laws? Probably. Call to find out. Yes, you are just one phone call away from getting the fresh start you need.
From offices in Brandon and Bradenton, the attorneys at The Golden Law Group represent clients throughout Manatee County, Hillsborough County and Sarasota County. Contact an experienced Brandon Chapter 7 eligibility lawyer today.