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Filing for Chapter 7 Bankruptcy in Fort Walton Beach

Hire Our Florida Bankruptcy Attorneys to Help Guide You

The Virga Law Firm, P.A. assists our clients in Chapter 7 bankruptcy matters across the state of Florida. We know how difficult filing for bankruptcy can be, but we have the experience necessary to expedite this process and make it easier on you. Clicking “clear history” on your finances may not be easy, but it may be necessary for you to start over. Contact our Fort Walton Beach bankruptcy attorneys today and take the first step toward a more secure future.

Chapter 7 Bankruptcy: Who Can File

You may be able to file for Chapter 7 bankruptcy in the state of Florida if you meet the following qualifications:

  • You are a property owner or business entity in the United States.
  • You are a permanent resident (not a naturalized citizen) who is a property owner or business entity.
  • You have not received a bankruptcy discharge in the last 6-8 years.
  • You are not filing for bankruptcy under the control of an incorporated entity.
  • Your average income in the 6 months prior to filing was lower or equal to the median income of your region.
  • You do not possess the necessary disposable income to repay the majority of your debts pursuant to a standard 5-year, Chapter 13 repayment plan.
  • You are not filing for bankruptcy in order to defraud your creditors (the court may suspect you are guilty of this if you lie about personal or financial information on a credit application, have sold off assets at unreasonable rates, or concealed income from a business partner or colleague).

What to Expect Out of the Chapter 7 Bankruptcy Process

The sooner you contact an attorney to examine your case, the sooner you can file a petition for bankruptcy. A lawyer will also be able to help you file the necessary series of accompanying forms, detailing property, asset, income, debt, and other financial information.

After the court has received all of the requisite paperwork, they will then be able to meet with your creditors in an effort to determine that the information you have provided is valid. This will be the only time during this process you will physically have to go to court, unless one of your creditors protests your bankruptcy petition.

After the meeting with your creditors, the trustee overseeing your case may or may not order you to surrender non-exempt property, or the total cash value of said property to the court. Depending on your case, you may also have to undergo credit counseling with a United States Trustee-approved agency.

If you complete all the actions up until this point correctly, the court should discharge your debt, and your bankruptcy process will be complete.

Act Now for Financial Relief

While receiving a discharge for Chapter 7 bankruptcy may be a slow process, it will be easier to complete with the assistance of skilled representation. All told, the entire legal proceedings usually last 4-6 months, so it is in your best interest to call a lawyer now. Hire our Fort Walton Beach bankruptcy attorneys at The Virga Law Firm, P.A., and begin your journey to financial freedom today.

Don’t wait, security and recovery are possible. Dial (800) 822-5170 to speak to an attorney, or contact us online with any questions.