Robert P. Eshelman, P.A. understands the stress and strain that debt can have on a person and/or their family. We handle consumer bankruptcies under both Chapter 7 and Chapter 13. Contact us to set up a free consultation to discuss how bankruptcy can help and/or solve your financial woes.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy, sometimes called a straight bankruptcy, is a liquidation proceeding. The debtor turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. Most Florida Chapter 7 debtors have little non-exempt personal property because of Florida's liberal exemption laws. Chapter 7 allows most individuals to eliminate all of their unsecured credit card debt and medical bills and to keep all of their belongings.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is also known as a reorganization bankruptcy. A Chapter 13 bankruptcy is filed by individuals who want to pay off all or a portion of their debts over a period of three to five years. One of the main incentives to filing a Chapter 13 is that it will stop the foreclosure process and allow you to catch up with any arrearages on your home mortgage. This type of bankruptcy also appeals to individuals who have non-exempt property that they want to keep. It is only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.