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Chapter 7 Bankruptcy Lawyers in Pensacola

Get Help from Skilled Bankruptcy Attorneys

The idea of filing for bankruptcy can seem intimidating. This is not a decision to be made lightly, but it is also one that can help you regain control of your finances. Bankruptcy is not a “defeat,” it is a strategic decision that helps people get a handle on debt.

The bankruptcy filing process can be complex and time-consuming. This is an important matter that will impact your future—you will want it done right the first time. At The Virga Law Firm, P.A., our bankruptcy attorneys in Pensacola can make sure all your paperwork is completed correctly. We can also explain how bankruptcy works and what will happen to your debt once you have successfully filed.

We can serve as your guides through the bankruptcy process. Call us today at (800) 822-5170.

What Is Chapter 7 Bankruptcy?

Bankruptcy is a tool used to help people when debt becomes an overwhelming problem. People typically file for Chapter 7 bankruptcy when they have significant debt and do not make enough income to continue a payment plan (which is what occurs in Chapter 13 bankruptcy). Once you file for bankruptcy, your creditors are forbidden by law from contacting you. From here on out, your only concern is getting through the bankruptcy process.

In Chapter 7 bankruptcy, your debt is erased, but not without cost. Many of your possessions will be seized by a trustee and sold to help pay off your creditors. You are permitted to exempt certain items from seizure, particularly if they are necessary for maintaining steady income such as a car. Once you have forfeited your assets, you will be officially discharged of your debts.

Why Hire A Bankruptcy Attorney?

Before you are cleared for bankruptcy, you will have to submit paperwork proving you are an eligible candidate for bankruptcy. This includes information on your income, assets, property, and other financial information that could go back several years. You will also have to meet with your creditors so they can review your information and agree to the bankruptcy terms. This meeting is usually just a formality, but it is valuable to have an attorney present so they know you are serious about this decision.

Bankruptcy is not an easy process, but it could be just what you need to take away the stress of debt. Our knowledgeable bankruptcy lawyers in Pensacola can help you decide what route is best for your situation.

Call (800) 822-5170 today, or contact us online to schedule a consultation at our law firm.