With the economy on a downswing, many people have been hit by financial crises. Individuals face foreclosures, high mortgage payments, lower valuation of their houses, rising student loan debt, increasing medical bills, loss of jobs and more. If a person is so financially distressed that there seems to be no way to move forward, Chapter 7 bankruptcy may be his or her best option.
Chapter 7 bankruptcy can protect exempt assets and get the borrower out of a financial hole. The Chapter 7 bankruptcy laws provide the safety net many individuals need when they are trying to regain their financial stability.
At Yesner Law, we guide individuals in Tampa and throughout Florida through the process of filing Chapter 7 bankruptcy. We help our clients determine whether bankruptcy or alternatives to bankruptcy are the most effective way to achieve protection from creditors and to regain their financial footing.
Dispelling Myths About Chapter 7 Bankruptcy
Many individuals need debt relief, but they are afraid to file for bankruptcy because they have misconceptions about the process. When we work with individuals, we dispel the common bankruptcy myths. For example, individuals who are interested in keeping their homes, are current on the payments and can afford to continue making payments may be able to keep their homes in a Chapter 7.
Chapter 7 bankruptcy allows individuals to make a fresh start as most debts are considered discharged. A trustee is appointed to sell any assets that are not exempt under Florida law. Then, the exempted amount is protected, and the remainder of the money (if any) is used to pay creditors.
We Can Help At Every Step Of The Process
Since the legal niceties are complex, it is always a good idea to seek the services of a competent Florida lawyer. At Yesner Law, we have been practicing in Florida state and federal courts for more than a decade, allowing us to guide our clients through the bankruptcy or debt alternative proceedings that are best for their financial health.
To learn more about the counsel an experienced attorney can provide, contact us to schedule a free initial consultation. We can be reached through our online contact form or by calling 813-774-3013.