Hollywood Chapter 7 Lawyer

Benefits of Filing for Chapter 7 Bankruptcy in Hollywood, Florida

Chapter 7 bankruptcy eliminates the debts that you owe. This is not a tool that is used if you wish to simply restructure and continue paying off your debts.

Chapter 7 bankruptcy requires you to liquidate your assets. You will most likely lose your home, among other assets if you file for Chapter 7 bankruptcy. But, you will be able to completely restart, without having to worry about paying past debts.

Some property in Florida is exempted from liquidation during a Chapter 7 bankruptcy. Depending on the value of your home and the debts you owe, you may be able to retain your home. This is why it’s crucial to speak with a Hollywood Chapter 7 bankruptcy lawyer. We can walk you through how this type of bankruptcy may be beneficial, as well as provide you with other options based on your specific circumstances.

Chapter 7 Bankruptcy Temporarily Stops the Foreclosure of Your Home

Many people in Hollywood, Florida file for Chapter 7 bankruptcy if they’re struggling to cover a house payment. Once you file for this type of bankruptcy, foreclosure proceedings are paused.

You are given a reasonable period of time to find somewhere else to live. And, once your bankruptcy is finalized, you will not need to worry about paying a mortgage you can’t afford.

How Long Will I Have to Find a New Place to Live?

Once we file your Chapter 7 bankruptcy, all debt collection efforts will be legally halted. If you owe money on your home, the mortgage company will be notified that you have initiated bankruptcy proceedings.

The lender will request permission from the bankruptcy judge to resume their collection efforts. During this process, any foreclosure on your home is paused. Eventually, the judge will give permission to the mortgage company to restart their collection efforts.

Any pending foreclosure will be closed and a new foreclosure will begin. This process can give you up to a few months of time to find a new place to live. It’s important to use this time responsibly – eventually, you will be required to leave your home. But this process can give you breathing room to get a roof over your head before you are forced to leave.

Cost to File Chapter 7 Bankruptcy in Hollywood, Florida

The federal court requires you to pay a filing fee. For a Chapter 7 bankruptcy filing, the fee is $335. This is separate from any attorney’s fees associated with your filing.

Stiberman Law, P.A. works hard to keep our costs as low as possible. We understand that this is a financially trying time in your life. In many cases, we are able to offer payment plans to help make getting legal help with your Chapter 7 bankruptcy filing in Hollywood more affordable.

One other requirement that the court imposes is the completion of a debt counseling session. We can complete your debt counseling – saving you an additional expense – as part of the process of initiating your case with our firm.

Understanding Chapter 7 Bankruptcy Protection

Chapter 7 bankruptcy provides individuals struggling with overwhelming debt with a path to financial recovery. This type of bankruptcy allows qualifying individuals to discharge most unsecured debts while potentially keeping their essential assets through Florida’s exemption laws.

Florida law provides generous exemptions that protect debtor’s assets, including:

• Homestead property (unlimited value in most cases)
• Personal property up to $1,000
• Vehicle equity up to $1,000
• Retirement accounts
• Social Security benefits

The process begins with an automatic stay, which immediately stops creditor harassment, wage garnishments, and collection activities. From initial filing to final discharge, the entire process is typically completed within 4-6 months.

Common dischargeable debts include the following:

• Credit card balances
• Medical bills
• Personal loans
• Utility bills
• Payday loans
• Old rental agreements

However, certain obligations, such as recent taxes, child support, and most student loans, cannot be discharged through Chapter 7.

Speak with a Hollywood Chapter 7 Bankruptcy Lawyer for Free

Searching on Google isn’t enough. This is a monumental moment in your life. Filing for bankruptcy can put you on the path to a brighter financial future, but it needs to be handled correctly.

The first step is speaking with a Hollywood Chapter 7 bankruptcy attorney. The consultation is completely free, and you are under no obligation to hire our Hollywood bankruptcy law firm.

At Stiberman Law, P.A., we handle every aspect of your Chapter 7 case. Our attorney evaluates your financial situation to determine eligibility and identify which debts can be eliminated. We ensure all paperwork is completed accurately and filed with the bankruptcy court on time.

Our legal team handles critical aspects of your case, including the following:

• Evaluating eligibility through means testing
• Preparing and filing all required documentation
• Representing you at the 341 meeting of creditors
• Addressing creditor objections
• Ensuring proper debt discharge

Our team also advises you on protecting assets through available exemptions under Florida law, including homestead protection and personal property allowances. We also provide essential services to prevent common pitfalls, such as reviewing transfers to prevent fraudulent conveyance issues and addressing potential preferential payment concerns.

At Stiberman Law, P.A., we have extensive experience handling a variety of bankruptcy cases. Contact us today, and we will do everything within our power to find a solution that allows you to begin rebuilding your financial future.