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Chapter 7 Bankruptcy

Knowledgeable Attorneys Assisting Cape Coral and Fort Myers Residents with Debt Relief

Although many people view bankruptcy as a negative event, the process actually provides consumers with a chance to have a fresh start and to put an end to their financial struggles. The three-month process is not as daunting as it may initially seem, and there are even ways to retain possession of certain property items. Ensuring that you take full advantage of your rights during the bankruptcy process and protect your financial interests can be difficult without the assistance of an experienced Fort Myers and Cape Coral Chapter 7 bankruptcy lawyer.

At Martin Law Firm, we offer each client the compassion, personal attention, and thorough legal guidance that they deserve. Our lead attorneys are a husband and wife who treat the law firm much like a family business. We know how important your financial and personal assets are to your well-being. Take the first step toward securing a positive financial future and contact us today to learn more about whether and how bankruptcy may be right for you.

Understanding Chapter 7 Bankruptcy Proceedings

Many bankruptcies filed in the United States are brought under Chapter 7. Compared to Chapter 13 bankruptcies, a Chapter 7 proceeding does not involve any type of repayment plan. Additionally, a Chapter 7 proceeding does not involve a reorganization and continuation of a business. The majority of Chapter 7 filings are resolved within a three-month period after the date of filing. To find out whether you are eligible for a Chapter 7 proceeding, you will need to examine information regarding your financial status, debt obligations, and income. If you have a minimal amount of disposable income after paying your monthly expenses, the chances are that you are eligible for Chapter 7 bankruptcy. This test is known as the means test and is established according to federal IRS standards. If you have received a Chapter 7 bankruptcy discharge within eight years of your current application, however, you will be precluded from receiving another Chapter 7 discharge.

Some of the first questions that debtors have for a Chapter 7 bankruptcy lawyer in Cape Coral or Fort Myers involve whether they will be able to protect certain assets and which types of debts can be forgiven. In general, credit card debts, medical bills, certain loans, deficiencies following repossessions, and foreclosures of homes can be forgiven in a bankruptcy proceeding. Some debts are not forgiven, including student loan debt and alimony or child support payment obligations. Court penalties and fines are also excluded from forgiveness in bankruptcy.

Additionally, there are certain exemptions and other methods that can be used to protect a family home or a vehicle. To take advantage of these procedures, the debtor may be required to agree to any existing financing terms that apply to the property, such as a car loan. To retain a home, the debtor will need to be current on mortgage payments or enter into a contract with the mortgage provider to modify the agreement. Chapter 13 proceedings offer additional ways to retain a family residence if the debtor is behind on payments and unable to reach a modification agreement with the lender.

A successful bankruptcy proceeding will remain on your credit report for the next 10 years, but within 18 months of completing the process, you can begin establishing a strong credit rating. In fact, many debtors have had greater success fixing their credit through a bankruptcy and by starting fresh as opposed to working on their credit outside bankruptcy.

Consult a Dedicated Bankruptcy Lawyer in Cape Coral or Fort Myers

At Martin Law Firm, we pride ourselves on looking after the needs of ordinary people just like our family who work hard and care about their financial future and the future of their loved ones. We provide a free consultation to help you learn more about the complexities of bankruptcy, which type of proceeding may be right for you, and the steps that you need to take. Our seasoned team of legal professionals can guide you through every phase of the process, ensuring that you understand your rights and what is happening with your case. Call our Fort Myers and Cape Coral bankruptcy attorneys at (844) 465-4357 or contact us online to get started. We also represent people in Naples, Miami, Tampa, and other South Florida cities who are going through bankruptcy under Chapter 7, Chapter 11, or Chapter 13.

Client Reviews
Very professional law firm.The support staff does not try to blow you off or make judgments on your case or incident, when you initially call for help. They get you in quickly to see one of their very qualified experienced attorneys. The follow up is great and they keep you up dated through out your case and litigation. John D.
My wife and I have retained The Martin Law Firm to assist us with an important legal problem. They exhibit professionalism and kindness. I wouldn't hesitate to recommend them for your legal needs. Larry N.
The Martins have always treated our concerns with a professional and courteous manner. They, as well as their associates, are always available to answer questions in a way that is easy to understand. Thank you for handling our legal concerns. Anita S.
Professional courteous staff that helped me through such a confusing time. Always there to answer all my questions no matter how big or small. They made a difficult situation seem much easier to go through thanks to all their hard work, communication and friendliness. Oscar R.
The Martin Law firm is top notch from the office staff to the attorney's. They are quick to respond to email and phone messages and you feel incredibly valued as a client during and after the court proceedings. We highly recommend them and will continue to use them in the future if the need arises. Scooter C.