Chapter 7 Bankruptcy Attorneys in Florida

It can start with one late or missed payment and then spiral out of control. Suddenly, you may find yourself in serious debt with no idea how to fix your finances. The experienced bankruptcy attorneys at the Jacksonville, Florida law firm of Pinkston & Pinkston, P.A. can help. For nearly 25 years we have helped individuals and businesses of all sizes find financial relief through Chapter 7 bankruptcy.

Could Chapter 7 be right for you?

Chapter 7 bankruptcy allows a filer to discharge — or eliminate — unsecured debt such as credit card debt, medical bills and deficiency balances due to auto repossession. In order to be eligible, individuals must pass a means test. This evaluation determines if you have enough money to make minimum payments to your creditors through a Chapter 13 payment plan. If you do not, you are eligible to file for Chapter 7.

In Chapter 7, a trustee converts your non-exempt property into cash and then distributes it to your creditors. You should receive a discharge of all dischargeable debts within four months.

Non-dischargeable debts under Chapter 7 include:

• Taxes and tax liens
• Student loans
• Alimony and child support (domestic support obligations)
• Debts obtained through fraud, false pretenses or false representation
• Debts you failed to schedule in time to allow creditors to file proofs of claim (unscheduled debts)
• Debts for fraud while you were acting in a fiduciary capacity, or for embezzlement or larceny
• Debts for willful and malicious injury
• Debts for fines or penalties to governmental units
• Debts for judgments in wrongful death or personal injury lawsuits resulting from motor vehicle, vessel or aircraft accidents while you were intoxicated
• Condominium or cooperative association fees or assessments

Chapter 7 for businesses

If your business is struggling financially and unable to pay your creditors, it may be time to consider filing for Chapter 7. Unlike Chapter 11 bankruptcy which allows you to reorganize your company's debt, Chapter 7 stops the business's operations immediately and involves the appointment of a trustee who examines the company's finances. The trustee may decide to sell the assets and distribute the proceeds to the business's creditors. Rather than receiving a discharge from debts, corporations and partnerships are dissolved.

Let Pinkston & Pinkston, P.A. help you open a new financial chapter

A solution to your financial issues may be closer than you think. The seasoned Chapter 7 and Chapter 13 attorneys at Pinkston & Pinkston, P.A. in Jacksonville can help determine if bankruptcy is the right option for you. Call us at 888.789.3161 or contact us online to schedule your free consultation today.