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Law Office of Randall A. Fischer P.A. At Stuart

2100 SE Ocean Blvd #203, Stuart,
Martin, Florida 34996
Phone: (772) 463-7737


Randall A. Fischer, P.A.

725 SE Port St Lucie Blvd #206, Port St. Lucie
St. Lucie, Florida 34984-5232
Phone: (772) 463-7738


Randall A. Fischer, P.A. Law Office At Jupiter

1080 East Indiantown Road #104
Jupiter, Florida 33477
Phone: (561) 316-7111


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What is Chapter 7 Bankruptcy?

What is Chapter 7 Bankruptcy? 

 

In short, Chapter 7 Bankruptcy is a liquidation of debt subject to certain exemptions.  What that means is the Debtors assets and liabilities are examined and any unprotected assets, which have worthwhile liquidated value, are sold to settle the nonexempt debts the debtor is attempting to discharge.  I know this sounds rather complicated, which at times it can be, it is a quick definition of what a chapter 7 Bankruptcy is.  Not everyone can file for Chapter 7, which has some income restrictions.  I will discuss this in another post.

 

If you are in a difficult financial position and are looking for a Bankruptcy Lawyer in Stuart, Jupiter or Port St. Lucie FL, please give my office a call.

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