Chapter 7 Bankruptcy Attorneys in South Florida
Need Debt Relief? Learn More About Chapter 7 Bankruptcy
When you have mounting debt, it can be difficult to determine which way to turn. Whether your home is in danger of foreclosure or debt collectors are knocking at your door, unpaid debt can have serious consequences if left unresolved. If you need fast debt relief and want to start fresh with your finances, Chapter 7 bankruptcy might be your best option.
Why Choose Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is typically the quickest form of debt relief. Also called liquidation bankruptcy, Chapter 7 will liquidate certain assets in order to fully forgive outstanding debts. Chapter 7 allows individuals to eliminate unsecured debts in the form of credit card debt, medical bills, personal loans, or payday advances.
Who Qualifies for Chapter 7 Bankruptcy?
Although Chapter 7 bankruptcy is the most commonly used type of bankruptcy, not everyone will qualify. Eligibility is determined by the means tests, which evaluates a person’s income in comparison to the state average. To pass the means test, individuals must earn below the average in their state. Those who earn more than the state average may consider Chapter 13 as an alternative.
Choose Pazos Law Group
Our firm is passionate about protecting our clients and their families. If you find yourself in danger of losing your home, car, or other possessions because of unpaid debt, we want to help. To learn more about Chapter 7 bankruptcy and to determine if you qualify, reach out to our legal team.
Contact Pazos Law Group with your bankruptcy and debt relief needs.