Chapter 7 in Jacksonville

Jacksonville Chapter 7

As Jacksonville’s premier bankruptcy attornies, we understand bankruptcy in Jacksonville, as well as any other bankruptcy law firm, that includes chapter 13.

However, what makes us stand out from other lawyers is how we put our clients. we will only work with clients when bankruptcy is the best way for the client to deal with their financial problems. Together we’ll sit down and discuss your current situation, during our FREE consultation, and give you expert advice.

If we feel that filing for bankruptcy in Jacksonville is the best strategy, we’ll talk you through your options. It’s always important to get expert legal advice from someone who understands the bankruptcy law in Florida. Often friends and family mean well but they can be guilty of offering inaccurate and misleading information.

The good news is, when you do file for bankruptcy, for example with chapter 11, life moves on quickly and you’ll find credit card offers starting to hit your mailbox within a few short months. Although recent law changes make bankruptcy a little more complicated it’s still your right as a US citizen to file for bankruptcy in Jacksonville.

What we’ll do in this article is walk you through some of the basics of bankruptcy, specifically chapter 7 bankruptcy in Florida. If you have any questions or you want to speak to someone about your specific financial situation, give us a call on XXXXXXXXX.

     

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    What is Bankruptcy? (in Jacksonville and the state of Florida)

    Bankruptcy can be explained as the legal proceeding in which who find themselves in the position where they can’t pay their bills can wipe the slate and make a fresh a start.

    This is the right given the citizens of Jacksonville by federal law and all bankruptcy filings are handled in federal court. The minute you file for bankruptcy, it stops creditors from being able to chase you for debt repayments.

    This right can be traced back to our founding fathers who recognised the necessity for bankruptcy (The US Constitution: Article 1, Section 8, Clause 4). Even the bible mentions the importance of “forgiving” people their debts. “Every creditor who has lent anything to his neighbor shall release it; he shall not require it of his neighbor or his brother, because it is called the LORD’s release”.

     

    Is chapter 7 Bankruptcy right for me?

    Bankruptcy law in Jacksonville offers for types of filings:

    Option 1: Chapter 7. In Jacksonville bankruptcy circles, this is commonly known as straight bankruptcy or liquidation. In many cases, it requires individuals to give up their property, which is sold to pay their creditors. For Jacksonville bankruptcy clients, we’re fortunate that our state of Florida has pretty generous exemption laws.

    Option 2: Chapter 11. This is often commonly known as “reorganization”. Although it’s more common for businesses, some Jacksonville bankruptcy clients who have large debts have found Chapter 11 the best bankruptcy option. 

    Option 3: Chapter 13. Similarly unknown as reorganization, it’s where our clients choose they would prefer to pay their debt off in instalments, from their salary.

    In many cases, our clients come to us wanting to file chapter 7 or 13, but we’re always keen to look at all the options fully before preparing the filings, which is why we offer a free consultation. For example, there are a variety of options to consider such as deciding if it’s beneficial filing individually or as a married couple.

     

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    If you are looking at chapter 13, you need to get expert advice from legal experts who have extensive experience filing and negotiating chapter 13 bankruptcy petitions in Jacksonville. Every court interprets the law slightly differently and having insight about the court you will be specifically filing your petition to is massively important.