Chapter 7 Attorneys in South Florida
Serving Clients from Offices in Pompano Beach & Miami
A Chapter 7 bankruptcy is a liquidation process where a private trustee is appointed to gather a debtor’s non-exempt assets and sell them to repay creditors a portion of what is owed. The debtor, who is the person filing for bankruptcy, can maintain certain exempt property under the law and receive a discharge of the debts remaining, which means the creditors can no longer legally collect the monies that are owed. Additionally, the automatic stay from bankruptcy can put a pause on foreclosure proceedings.
Not everyone is a fit for Chapter 7 as there are income requirements and other issues that need to be considered before filing a Chapter 7. As with all bankruptcies, it is the best practice to speak to an experienced bankruptcy practitioner about filing a Chapter 7 prior to moving forward. The professionals at Bilu Law are here to guide you through this process to help you or your business get the fresh start that you deserve.
Contact Bilu Law online and request our free consultation that we reserve for prospective clients.