Chapter 7 Bankruptcy

WHO CAN FILE:An individual’s eligibility for Chapter 7 is based on the applicable median “household income” for this State as set forth by the United States Department of Justice. This figure is adjusted twice a year, in March and October. Any business entity can file.


  • Stop collection activity and lawsuits
  • Discharge any and all debts that are dischargeable by law
  • Avoid certain judicial liens

WHAT YOU CAN KEEP:The Debtor retains all property deemed to be exempt under Florida Law. Exemptions are a matter of State Law and are located in many different sections of the Florida Statutes. Some examples of exemptions are Homestead, ERISA-qualified pensions or retirement plans; annuities; structured settlements; the wages of a “head of household” earned within the last six months; and a limited amount of other personal property.

Non-exempt property is either surrendered to, or redeemed from, the Trustee. Secured property—- such as houses or cars—- can be reaffirmed with their respective secured creditors and thereby retained.

HOW LONG IT TAKES:From date of filing to discharge, a no-asset uncontested Case should yield a discharge in about four months.