Unlike Chapter 13 bankruptcy, where you are still required to pay all or a portion of your debts, Chapter 7 bankruptcy discharges your debts entirely.
Many people assume that bankruptcy means that they have to give up all property, including your home and your vehicles. In most cases, a qualified attorney can help you list your assets in such a way that they are protected from liquidation.
If you still owe on your property, you must sign a “Reaffirmation Agreement,”which states that you reaffirm the debt and you will not bankrupt against that debt for at least 8 years.
Lehn Law, P.A. can guide you through the process of filing Chapter 7 bankruptcy, and can help you get a new financial start.
Whether you are buried under credit card debt, medical bills, or other debts, bankruptcy can help you to get on better financial footing.
Contact Lehn Law, P.A. in Sarasota and Port Charlotte today at (941) 255-5346 or (941) 487-7100 for a consultation to discuss your bankruptcy options.