Palm Beach County Chapter 7 bankruptcy attorneys help residents of Boca Raton, West Palm Beach, Boynton Beach, Delray Beach, Highland Beach, Jupiter, Lake Worth, Lantana, Palm Beach Gardens, Riviera Beach, Royal Palm Beach, and Wellington, as well as nearby cities, obtain relief under Chapter 7 bankruptcy protection laws. Chapter 7 bankruptcy is designed to protect debtors facing seemingly insurmountable debt by eliminating most of their unsecured debt.
Although Chapter 7 bankruptcy, also referred to as “liquidation bankruptcy”, is considered to be the quickest and most straightforward type of bankruptcy filing, it is by no means an easy process. There are many aspects of the Chapter 7 bankruptcy process that need to be carefully considered, and it is important to have an attorney that is experienced and knowledgeable about Chapter 7 bankruptcy on your side as you go through the process.
Deciding to File Chapter 7 Bankruptcy in South Florida
No matter what type of financial troubles you may find yourself in, everyone deserves a chance for a fresh start. Although Chapter 7 bankruptcy may not be the best option for everyone, for many residents of Palm Beach, Chapter 7 bankruptcy provides the best possible opportunity to gain financial control of their future. Our experienced bankruptcy lawyers can help you evaluate whether Chapter 7 is the best option for you, or if another type of bankruptcy filing is better suited to your particular situation.
We can also help you assess if there are other options you should consider besides filing for bankruptcy protection. Our bankruptcy law firm offers experience and knowledge related to all types of bankruptcy, while also providing you with compassionate advice and understanding that helps you make the best financial and legal decisions for you and your family during a difficult time in your life.
Finding a Chapter 7 Lawyer in Palm Beach
If you are considering bankruptcy, whether you are already sure that Chapter 7 bankruptcy is the best option for you, or you are still up in the air about which type of bankruptcy protection will best serve your particular needs, the first thing you should do is find a Chapter 7 bankruptcy lawyer in Palm Beach County that you are comfortable with and feel you can trust. We have offices that are located in Boca Raton and West Palm Beach (as well as in Fort Lauderdale), so we are conveniently located to residents throughout Palm Beach County and have the experience you need, as well as the compassion you deserve.
Chapter 7 Bankruptcy Law Firm Attributes
Financial and legal situations that result in the possibility of bankruptcy are difficult, stressful and emotionally charged. Crushing debt, harassing creditors and other monetary and legal stressors may make it feel like there’s no way out of a seemingly insurmountable financial crisis. We understand how hard it is for people to be in this situation, but we also know that with proper guidance, Chapter 7 bankruptcy can provide people with a “clean slate” and a fresh start. Our trusted attorneys not only have the knowledge and experience related to Chapter 7 bankruptcy law that you need, but we understand the overwhelming circumstances you may find yourself in. That’s why you can count on us to not only be trusted advocates as you navigate difficult financial and legal terrain, but you can also count on us to treat you with respect, understanding and compassion. We know that times are tough for you right now, but we are here to help.
Free Chapter 7 Bankruptcy Consultation In Palm Beach
When you are ready to speak with a Chapter 7 bankruptcy attorney, we invite you to take advantage of our free bankruptcy consultation. During this meeting, we can provide you with additional information regarding filing Chapter 7 bankruptcy in Palm Beach County, can review your particular financial situation to determine if this type of bankruptcy filing will best suit your needs, and will answer any questions you may have. We will provide you with what you need to know in order to get started as you pull yourself out from under a mound of suffocating debt and get back on the road to a more financially secure and healthy future.
Learn More About Chapter 7 Bankruptcy
There is a lot to learn about Chapter 7 bankruptcy before you can truly decide if it is the best option for you. We have included some information below in our “FAQ” section to help you get some of the answers you need. We also invite you to speak directly with one of our Palm Beach bankruptcy lawyers, either by phone or in one of our convenient law offices in Boca Raton or West Palm Beach, so we can answer any questions you may have and help you begin on the path to restoring your financial health. You can call us at 561-353-2500, or simply fill out the contact form on the side of this page and one of our bankruptcy attorneys will contact you.
Contact A Chapter 7 Bankruptcy Lawyer in Boca Raton or West Palm Beach
Our offices are conveniently located on N. Federal Highway in Boca Raton and S. Flagler Drive in West Palm Beach (we also have an office in Broward County on E. Broward Boulevard in Fort Lauderdale). Contact us today to schedule your free Chapter 7 bankruptcy consultation by calling 561-353-2500 or filling out the contact form on the side of this page and one of our lawyers will call you.
The Chapter 7 bankruptcy attorneys at Eric N. Klein & Associates are here to help you get started on the path to a healthier financial future. We offer knowledge, experience, compassion – and the freedom to start fresh.
What happens when you first file Chapter 7 bankruptcy?The first step in the process is to file a petition in bankruptcy court, as well as several mandatory financial schedules that include information about assets, liabilities, income, co-debtors and exempt property. The schedule of exempt property stipulates what is not required to be liquidated to pay off your debt, allowing you to keep those assets. Once the bankruptcy petition is filed, you are granted an automatic stay and all collection efforts against you must cease.
What is an “automatic stay”?Once you file Chapter 7 bankruptcy, federal bankruptcy laws dictate that you are granted an automatic stay. This means that all collection efforts, wage garnishments, foreclosure proceedings, harassing correspondence and lawsuits must cease during the bankruptcy process. Once your bankruptcy petition is filed, you no longer have to deal with the stresses of creditors contacting you for payment, since all ensuing communication is handled through your attorney.
What is a Section 341 meeting?One month after filing a Chapter 7 bankruptcy petition in court, a meeting will be set up between you, your bankruptcy attorney, a court-appointed bankruptcy trustee, and any creditors that wish to attend (creditors rarely attend this meeting). You will be questioned about your financial situation at this meeting. Then, 60 days later, you will receive your discharge.
Why is Chapter 7 bankruptcy referred to as “liquidation bankruptcy”?This form of bankruptcy results in the liquidation of any available assets to partially pay off your outstanding debt. Once your assets have been liquidated and the creditors paid with the proceeds of the liquidation, any remaining dischargeable debt is eliminated (meaning you are not required to repay it). There is some debt, however, that is not dischargeable, such as student loans and most taxes for example. There are also a lot of assets that are exempt from mandatory liquidation during this process.
What is a “bankruptcy discharge”?Once the process of Chapter 7 bankruptcy has been completed and all available non-exempt assets have been liquidated, with proceeds being distributed to pay back creditors, the debtor is granted a bankruptcy discharge. This legally eliminates any further obligations the debtor has to pay off existing dischargeable debt. Non-dischargeable debts are not covered by a bankruptcy discharge. In essence, a bankruptcy discharge offers you a “clean slate” to begin on the road to a more financially stable future.
How does a “means test” determine my eligibility for Chapter 7 bankruptcy?Before you can file a Chapter 7 bankruptcy petition, it must first be determined that you are eligible for protection under Chapter 7 bankruptcy laws. This eligibility determination is done using a “means test”. The means test calculates whether you have the means to pay all or a portion of your debt. Your income during the last six months is used in the analysis. If your income falls below the median income levels set for the size of your household, you will be eligible for Chapter 7 bankruptcy protection. If it falls above the median income standards, you will be eligible for Chapter 13 bankruptcy protection, although you may still be eligible for Chapter 7.
What will I be left with after filing Chapter 7 bankruptcy?Any assets you own that are not considered to be “exempt” will be liquidated in order to repay a portion of your debt. Exempt assets, however, are yours to keep and cannot be liquidated. You will also have any remaining dischargeable debt that has not been paid off wiped clean and will no longer be obligated to repay the debt.
What will a Chapter 7 bankruptcy lawyer do for me?Our experienced bankruptcy lawyers will help you determine if Chapter 7 bankruptcy is the best option to meet your current and future financial needs, and will also administer a “means test” to determine your eligibility for Chapter 7 bankruptcy. If you are eligible and decide to proceed with Chapter 7 bankruptcy, we will assist you in the creation and filing of the bankruptcy petition and mandatory financial schedules. Once the petition is filed with the court, we will be the primary source of contact for the court-appointed bankruptcy trustee and all creditors. The only time you will have to come face-to-face with them is at the Section 341 meeting, and we will be right by your side to protect you at that meeting.
Where in South Florida do you provide Chapter 7 bankruptcy services?We offer Chapter 7 bankruptcy services in Palm Beach County, as well as in Broward County.