Jacksonville Chapter 7 Bankruptcy Attorneys
Owenby Law, P.A. is Ready to Help You Achieve a Fresh Start
Are you drowning in debt? Are you struggling to make ends meet? Do you
wish you could start over with a clean slate? If so, it may be time to
consider Chapter 7 bankruptcy. When our clients emerge from Chapter 7
bankruptcy, their debt is completely discharged, and their previous creditors
no longer have any claim against them. This is why Chapter 7 bankruptcy
is commonly referred to as a “fresh start” bankruptcy.
When you work with a Jacksonville bankruptcy lawyer at Owenby Law, P.A.,
we will start your case with a complete financial assessment. During this
assessment, we will look at the type and amount of debt you owe, how far
in arrears you are with creditors, and your ability to repay your debt
obligations. If we determine that you are a good candidate for Chapter
7 bankruptcy, we will work quickly to get the process started.
Contact Owenby Law, P.A. today to arrange your free, no-risk consultation: (904) 770-3141.
Do You Qualify for Chapter 7 Bankruptcy?
If you are interested in filing for Chapter 7 bankruptcy, it is important
to understand that not everyone will qualify. In order to qualify, you
must first take and pass a
means test, which will seek to determine whether or not you are able to repay your
debts based on your current monthly income and household size. To put
it simply, if your monthly income is below the state median, you would
qualify for Chapter 7. If it is above the state median, and you do not
qualify for Chapter 7, you would still have the option to seek debt relief through
Chapter 13 bankruptcy.
What to Expect During the Chapter 7 Bankruptcy Process
At Owenby Law, P.A., we recognize how intimidating it can be to declare
bankruptcy, even with the assistance of a seasoned attorney. This is why we have
established the following guidelines for individuals who are seeking protection
from creditors through Chapter 7 bankruptcy.
Means test – Before filing for Chapter 7 bankruptcy, you will need to determine if you
qualify by taking the means test.
Credit counseling – You must complete a credit counseling course within six months of filing
for bankruptcy, which costs about $50.
Filing your petition – You attorney will help you compile all necessary forms and then submit
them to the court on your behalf.
Automatic stay – Once the court has accepted your bankruptcy petition for review, the judge
will issue an automatic stay.
Appointment of a trustee – Next, the court will appoint a fiduciary to oversee your Chapter 7 bankruptcy
Meeting of creditors – A meeting will be scheduled where you will have to answer questions about
your finances under oath.
Eligibility confirmed – The means test will be applied by the trustee in order to confirm your
eligibility for Chapter 7.
Property assessment – The trustee will evaluate non-exempt assets. If they are worth liquidating,
they will be seized and sold.
Secured debts are made whole - Property that is collateral (used to secure a debt) will be returned
to the creditor.
Before your case can be closed, you must also take a mandatory financial
management course. Proof of completion must be filed with the courts.
You will receive a discharge three to six months after the process begins,
the automatic stay will be lifted, and your case will be closed.
Benefits of the Automatic Stay in Chapter 7 Bankruptcy
Once your Jacksonville bankruptcy attorney petitions the court, the
automatic stay will go into effect. This means that your creditors can no longer pursue
you for debt obligations unless they obtain a waiver from the court. Debt
collectors would be prohibited from calling you at home or work, and they
could not repossess your vehicle or any other property. It would also
foreclosure process. If you are worried about your car being repossessed or being
removed from your home, the automatic stay can give you the time you need
to make other arrangements.
Need Immediate Debt Relief? Speak with Us at Owenby Law, P.A.!
If you are being pursued by creditors or are in danger of foreclosure,
you need to take immediate action. Our firm will do everything possible
to provide you with the debt relief you need to move on with your life.
Owenby Law, P.A. has the experience required to handle all kinds of bankruptcy
cases. Don’t face the bankruptcy process without our guidance. To
better assist our clients, we also offer payment plans for those who qualify.
To speak with a Jacksonville bankruptcy lawyer, call Owenby Law, P.A. for a