Chapter 7 Bankruptcy

Pembroke Pines Chapter 7 Bankruptcy Lawyer

If creditors are tying up your phone, it may be time to contact a  Pembroke Pines Chapter 7 bankruptcy lawyer. Mary Jo Rivero, P.A. can help you find relief from debt by guiding you through the process. Attorney Rivero and her team can help you decide if Chapter 7 bankruptcy is the best option for your situation.

Chapter 7 bankruptcy can allow you to keep some of your personal assets, while still getting relief from debts like these:

  • Judgments
  • Garnishments
  • Credit cards
  • Personal loans
  • Certain taxes
  • Medical bills, and more

Mary Jo Rivero, P.A. has spent over 30+ years counseling clients on their best path forward and then being their advocate as decisions are made in the bankruptcy process. From her Pembroke Pines office, she serves both English and Spanish-speaking clients in Miami, Hollywood, Weston, Miramar, Fort Lauderdale, and Plantation. 

Call today at (954) 945-7727 or reach out online to set up a free consultation.

How Chapter 7 Bankruptcy Works in Florida

A Pembroke Pines Chapter 7 bankruptcy lawyer can file the necessary paperwork in federal court to get the process started. At this point, the court will appoint a bankruptcy trustee. This is the person that will oversee the debtor’s assets and deal with their debts.

The trustee will review the debtor’s assets and determine what is necessary to maintain a basic standard of living. The property required for the basics is exempt from the debt repayment process.

The next step is to deal with unsecured debt–any form of debt that is not backed by collateral. Common examples of unsecured debt in bankruptcy cases are credit card and medical bills. The trustee has the authority to liquidate any non-exempt assets to pay off these debts. For example, if a second car is not deemed necessary to maintain a basic standard of living, the car could be sold, and the proceeds given to creditors. But if the car is necessary, it will be protected.

The distinction between what is necessary and what isn’t necessary can be a fine line. So can the very definition of what constitutes a basic standard of living. An experienced Pembroke Pines Chapter 7 bankruptcy attorney–one who understands how courts generally handle these matters and what arguments they may or may not be sympathetic to–can be a valuable advocate for a person in debt.

At the end of the liquidation process, whatever unsecured debt remains can be forgiven entirely. It’s not a guarantee, but the prospect of getting complete relief from many of the most nagging debts is one of the key attractions of the Chapter 7 process.

Reach out to Mary Jo Rivero, P.A. and get the advantage of her 30+-plus years of experience in deciding whether Chapter 7 is the right path for you. Call the Pembroke Pines office today at (954) 945-7727 or contact us online to set up a free consultation.

Disadvantages of Chapter 7 Bankruptcy

There is an income eligibility standard for Chapter 7. Debtors who exceed a certain level of income will have to instead look to Chapter 13 for relief. It also has to be noted that Chapter 7 proceedings are public record, meaning there could be privacy concerns.

Furthermore, once a person files Chapter 7, they will have to wait eight years before being able to do so again. As such, it’s important that Chapter 7 be just one part of securing long-term financial stability. And like all bankruptcy filings, there will be negative consequences to the filers’ credit score.

Mary Jo Rivero, P.A. will examine your current financial situation and determine if you're eligible for Chapter 7. We’ll talk through the pros and cons with you and make sure that Chapter 7 is the best path forward in your unique circumstances. Our legal team will gather relevant documentation and start the filing process.

You'll be one step closer to debt relief when you reach out to Mary Jo Rivero, P.A.. Jump-start the process by calling us at (954) 945-7727 or reaching out here online for a free consultation. We serve both English and Spanish-speaking clients.