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Discharging Your Debt

Discharging Your Debt in Florida

Boca Raton Bankruptcy Attorney

Are you facing a difficult and stressful financial situation that has got you in turmoil? Then it is time to take action and speak to a Boca Raton bankruptcy lawyer. We offer support when your finances become too difficult to bear on your own. Our firm offers the legal assistance you need to help discharge your debts. Bankruptcy is a statutory injunction against the instigation of all actions to collect and recover debt from the debtor. If your debt is discharged, it has been forgiven. There are many debts that can be discharged, while others cannot, but we can assist you in discovering the options available to you.

Limits Involved in the Discharge of Debts

The bankruptcy law helps you get your debts dismissed when they become too much for you to handle. There are limits, however, on this process. Discharging your debts can only take place every eight years and not all of your debts can be eliminated. Your disposable income also has limits during this process. The process of bankruptcy demands precise action and therefore, you are encouraged to speak with a qualified bankruptcy attorney from our firm. It is also important to know what debts are commonly not accepted to be discharged. These include:

  • Taxes / tax liens
  • Student loans
  • Alimony
  • Child support
  • Debts for fraud
  • Debts for malicious injury
  • Debts for fines
  • Judgments
  • Unscheduled debts
  • Rental fees

Bankruptcy, depending on the chapter that is filed under, can discharge many debts. Chapter 7 bankruptcy has the ability to discharge the majority of the filer's unsecured debts; however, student loans generally cannot be discharged. If secured debts are not paid, such as mortgages or most loans, the debtor will lose these assets. For those who need a clean slate, they can file for Chapter 13 bankruptcy. Though auto loans and mortgage may not be dischargeable, Chapter 13 bankruptcy can help restructure a payment plan to have the monthly dues lowered.

What is required to discharge my debt?

In order to discharge your debt through Chapter 7 bankruptcy, you will have to take and prove your eligibility through the means test. This test is used to prevent those who have large incomes to file so that they can avoid paying their debts. The means test examines whether you make less than the average median income in the state of Florida. If you make less than the average, you will most likely prove to be eligible to file under Chapter 7. If you make more than the average, you can continue to pursue bankruptcy by filing under Chapter 13.

The timing of the discharge will depend on many factors, including what chapter you file under. The court typically grants the discharge on the expiration date for any complaints that object to the dismissal of debts. Debts are discharged under Chapter 13 bankruptcy after the payment plan has come to a completion. This is an automatic discharge that occurs unless the creditor files an objection. The debtor can file a motion with the court if the creditor takes action to collect discharged debt after the case has come to a close. This is because it has finalized and no further action can be taken.

Dedicated Legal Advocates

At Alan J. Fisher, PA, we fight for your rights in Boca Raton. We can help you discharge your debts and are prepared to help you file your bankruptcy petition. Our Boca Raton bankruptcy lawyer is available to help you and not judge your situation. There are many reasons that may have led you to this circumstance and you deserve to be treated in a fair manner. Having your debts discharged allows you the opportunity to start fresh. You can begin today by contacting our firm!