Am I able to file chapter 7 bankruptcy

I am practicing in Florida- the Middle District.  You may call my offices to discuss your issues, if you wish.

In Florida the median family income is $40,000 a year for by single person, since you make below that amount you'll have no problem filing chapter 7 bankruptcy. It all depends on if the assets in question are secured debt or unsecured debt, in determining if you will lose them or not. If you took out a loan to buy a TV and the TV is collateral for the loan and you file bankruptcy on that debt, and no longer wish to pay for it, the TV will be repossessed. This goes for any secured debt, if you discharge in bankruptcy you get rid of the debt but you can no longer keep the collateral used to secure, usually being a house car or other tangible physical asset. But the bankruptcy court allows a number of of exemptions that you can use, so your property is not liquid dated. There is usually more than enough exemptions to keep all your property. But once again if the property is a secured debt, bankruptcy will only discharge the debt, you will not be able to keep the collateral used to secure the debt.   I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob, #student, #loans, #education, #IRS, #taxes