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What is Chapter 7 Bankruptcy?

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    Filing for Chapter 7 Bankruptcy

    We are all experiencing, to some extent, snags along the bumpy economic terrain. The attorneys at the Law Firm of Anderson and Ferrin are experienced in various forms of Bankruptcy Law and can help you along the right road to financial freedom. We will protect your rights and provide you with sound advice on the bankruptcy options available and what is best suited for you. Chapter 7 bankruptcy generally eliminates and discharges most of your debts. A common misunderstanding is that in a Chapter 7 you cannot keep your car or home.  That is not always true; however, some debts that may not be discharged in bankruptcy are some forms of tax liability, student loans and fraud.

    What to remember when filing for Chapter 7 Bankruptcy. These are essential to remember:

    • Do not transfer ownership of any property such as cars, boats or homes while filing for bankruptcy. This may put you under suspicion of hiding assets, which will essentially put you in trouble.
    • Needless to say, you should not accrue any further debt.

    Here are some examples of debts that Chapter 7 Bankruptcy can help eliminate:

    • Credit card debt
    • Medical bills
    • Repossessions
    • Foreclosures
    • Garnishments
    • Personally guaranteed loans like car loans

    If you or a loved one, or someone you know faces foreclosure, and having their wages garnished, is being sued by creditors or is having problems with creditors and debt, call an Orlando bankruptcy lawyer if you think filing for Chapter 7 Bankruptcy is right for you. The Law Offices of Anderson and Ferrin specialize in Bankruptcy Law.

    Call Chapter 7 Orlando Bankruptcy Attorneys
    at 407-412-7041.