Get a Fresh Financial Start. Bankruptcy Can Help.

Bankruptcy through either a Chapter 7 or Chapter 13 filing can provide you and your family with a fresh financial start. There are many advantages to filing for bankruptcy, including stopping creditor harassment, wage garnishments, car repossession and even home foreclosure. Not to mention the ability to discharge certain debt. Every circumstance is different, which is why you should consult with an Inverness bankruptcy attorney.

Debt Relief Through Chapter 7 And Chapter 13 Bankruptcy Filings

Bankruptcy is not necessarily for everyone but can be a very helpful tool in reaching financial freedom. There are two main types of bankruptcy filings:

  • Chapter 7 bankruptcy: A Chapter 7 bankruptcy filing (sometimes referred to as "debt liquidation bankruptcy") allows an individual to discharge certain unsecured debts such as credit card bills and medical bills. However, it does not discharge child support, alimony or student loan debt. You must qualify in order to file for Chapter 7. This is generally based on your adjusted median income under a bankruptcy means test. We can talk about whether Chapter 7 is right for you.
  • Chapter 13 bankruptcy: A Chapter 13 bankruptcy filing gives an individual the ability to reorganize their debt in a three- to five-year repayment plan. This is usually for people who do not qualify for Chapter 7 and have a reasonably steady source of income.

Both Chapter 7 and Chapter 13 bankruptcy can place an "automatic stay" on home foreclosure proceedings, wage garnishments and creditor harassmen t. We highly recommend you consult with a skilled attorney before deciding to file for either Chapter 7 or Chapter 13 in order to make a knowledgeable and informed decision.

Contact A Citrus County Chapter 7 Bankruptcy Lawyer

For more information about debt relief options, contact our office online or call 352-419-0364 to schedule a consultation to discuss your specific concerns about bankruptcy.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.