| Chapter 7 Straight Bankruptcy |
 |
 |
 |
A Chapter 7 Bankruptcy cancels all "dischargeable" debt. Chapter 7 Bankruptcy discharges: Credit Card Debt Medical Debt Personal Loan Debt Judgments-Unless fraudulent or criminal in nature Deficiency Debts (Repossessed vehicles and foreclosed property) Personal injury debt-Except where injury was the result of criminal injury or Certain exceptions may apply Usually, a person may keep their home or their vehicle provided the payments are current and the person has the ability to continue to make the future payments.
A Chapter 7 discharge does not eliminate student loans, except where undue hardship can be proven. Debts from certain types of taxes; alimony and/or support payments; fines, penalties, and criminal restitution; debts incurred by intentional injury to a person or property; or debts from personal injury caused while driving under the influence.
A person who declares straight bankruptcy may retain exempt property which includes a person's homestead and other certain types of exempt assets. Let your St. Petersburg bankruptcy attorneys Reissman and Blanchard, P.A. help you obtain a fresh financial start.
727.322.1999 Phone 727.327.7999 Facsimile 5150 Central Avenue St. Petersburg, Florida 33707 |