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The Consumer Commission Announces Recommendations That Will Improve Borrowers’ Ability to Discharge Student Loan Debt in Bankruptcy
You can file Chapter 7 or Chapter 13 in Orlando, or surrounding communities such as Kissimmee and Sanford. As a credit attorney, Mr. Benenati uses his knowledge of bankruptcy law to develop viable solutions for his clients’ financial problems
Accumulating unpaid bills, increasing interest rates, and constant calls from collections agencies can lead to feelings of hopelessness. You may also feel an acute sense of shame about your difficult situation. The important point to remember is that you are not alone. In these difficult economic times, the Law Offices of Walter Benenati has helped many individuals take matters into their own hands with a Chapter 7 bankruptcy in Orlando.
There are many reasons, some beyond our control, why people arrive at the decision to file bankruptcy:
- Loss of job
- High medical expenses
- Credit card debt
- Diminishing value of house
- Costs linked to a divorce settlement
Regardless of the reason, a bankruptcy lawyer in Orlando such as Mr. Benenati is ready to help. Contact our firm to explore chapter 7 in Orlando
Filing Chapter 7
As the most common form of personal bankruptcy, Chapter 7 involves the liquidation of your non-exempt assets, which are then distributed to your creditors, in exchange for a discharge of your debts. Chapter 7 is also referred to as ‘liquidation’ and represents a “fresh start” for individuals. It sounds a lot worse than it really is. Most people do not lose any property in a bankruptcy. In addition, many of our clients are concerned about their future credit rating. Stop worrying. Although Chapter 7 bankruptcy stays on your credit report for ten years, the negative impact on your credit score diminishes considerably after one and a half to two years. I speak from experience because I have been through bankruptcy and I will help guide you in determining your options and providing bankruptcy advice and information during a FREE consultation in Orlando, Kissimmee, or Clermont.
Not everybody can file for Chapter 7. In 2005, Congress passed the Bankruptcy Prevention Abuse and Consumer Protection Act (BAPCPA), which introduced a “means test” to establish eligibility. Under the means test, an applicant must demonstrate an average income below the state’s median income in order to qualify for Chapter 7. Many clients come to us and think they cannot file a Chapter 7 because they make too much money. They are then pleasantly surprised when we are able to qualify them for a Chapter 7 bankruptcy. Let us handle everything. In our office you are not given a large “packet” to fill out. Rest assured, we do all the work. We can help you determine what is the best course of action. Those who do not qualify for Chapter 7 can pursue a Chapter 13 bankruptcy instead. I am looking forward to helping you and your family restart your life.