Chapter 7

Chapter 7 Bankruptcy

Tampa Bay Chapter 7 Bankruptcy Attorney

Florida Chapter 7 Bankruptcy provides relief for your debts where the trustee collects and sells any assets that are not exempt to pay your creditors in accordance with the provisions of the Bankruptcy Code. In most Chapter 7 bankruptcy cases, the debtor has large credit card debt and very few assets.  Depending on your case, a Chapter 7 Bankruptcy may be able to completely eliminate all of these debts.


To qualify for a Chapter 7 Bankruptcy, you must meet the Florida state median income requirements and surrender all of your non-exempt assets to the trustee.  Certain debts cannot be discharged in a Chapter 7 bankruptcy, such as alimony, child support, fraudulent debts, student loans, and certain taxes.

Exempt Assets:

Exempt assets in a Florida Chapter 7 Bankruptcy are the assets you can protect from creditors when filing bankruptcy.  You may exempt any property that falls into the Florida exemption categories up to the dollar amount defined.  Some examples of exemptions are:

  • Real property or personal property
  • Death benefits
  • Disability or Illness benefits
  • Motor Vehicle
  • Workers Compensation

Residency Requirements:

There are residency requirements for filing a Chapter 7 Bankruptcy.  If you have lived in Florida for at least two years you must use the Florida Exemptions.  If you have lived in Florida less than two years, you will have to claim the exemptions for the state in which you lived for the majority of the 180 days for the prior two years.

Determine if you qualify for Chapter 7 Bankruptcy.

We can help you determine if you qualify for a Chapter 7 Bankruptcy, what assets are exempt, what debts can be discharged and the next steps to relieve your financial difficulties.  Our attorneys have many years of experience assisting clients in Florida Bankruptcy.  Contact us today to schedule a free consultation.

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