An Experienced Chapter 7 Bankruptcy Attorney in West Palm Beach, FL
Depending on your financial situation, there are multiple options available to assist you with overcoming debt. At The Law Office of Michael A, Kaufman, P.A., we can help you understand these options and provide you with advice on which type of debt relief is right for you. For example, one of the most common types of debt relief is known as a Chapter 7 or liquidation bankruptcy. Read below to see if this sounds like the right solution for you. If so, contact us right away for assistance.
By working with our Chapter 7 bankruptcy attorney in West Palm Beach, FL, you’ll be informed of the process and details involved in the bankruptcy claim. In a Chapter 7 filing, you will choose to discharge your debts by liquidating your assets. Contact our office to learn more about the options available or to discuss your current financial situation with our team.
The Chapter 7 Filing Process
When an individual or troubled corporation files for a chapter 7 proceeding, a comprehensive list of all assets and liabilities must be submitted. This is long with:
- Petition to the Courts
- Schedule of Executory Contracts and Unexpired Leases
- Schedule of Current Income and Expenditures
- Other Paperwork required to Claim Bankruptcy
By working with our attorney, we can help ensure that all of the documentation required for your case is kept in order. With our extensive experience in past cases, we will advise you on what to expect throughout the process and provide you with peace of mind at every turn.
After your petition is filed, a trustee will be appointed who is responsible for administering the bankruptcy process. They will manage the liquidation of your non-exempt assets and distribute them based on the Chapter 7 code.
Eligibility for a Chapter 7 Filing
To qualify for a Chapter 7 bankruptcy in West Palm Beach, FL, your current monthly income must be less than the stated median, or your deductions must bring you under the presumption of abuse. If you do not qualify, you may be able to challenge the results of your mean test if you have justifiable current expenses or adjustments to your current income. You may also file under Chapter 13 of the code if you are still ineligible for a Chapter 7 proceeding.