Pensacola Bankruptcy Law Firm Gives Their Community Guidance on Filing Chapter 7 Bankruptcy

Pensacola, FL. – Pensacola bankruptcy law firm Lewis & Jurnovoy, P.A. has recently given a comprehensive guide to Chapter 7 bankruptcy. For those considering filing for bankruptcy under Chapter 7, this guide can use the expert knowledge of Lewis & Jurnovoy, P.A. to aid in that decision.

As explained by the bankruptcy law firm in Pensacola, Chapter 7 essentially cancels most debts with the collection of nonexempt assets. In other words, a debtor is completely relieved from their debts without having to repay them. Certain assets that are not protected by Florida bankruptcy law will be repossessed as payment to creditors.

Lewis and Jurnovoy are frequently asked by debtors if they will lose all their possessions when they file for bankruptcy. However, there are state-defined exemptions for car, home, and personal property that will not be repossessed. Often in family cases, all assets will be exempt. It’s important to consult a bankruptcy attorney before filing to be aware of what assets will be exempt.

There are several debts that a debtor will not be released from under Chapter 7. First, taxes are rarely exempt, especially ones that were due within the past three years. Second, student loans are not releasable either. Last, child support or other alimony debts are still required by the debtor to be paid.

Clients have greatly benefitted from the bankruptcy lawyers in Pensacola. “I used Lewis and Jurnovoy for my bankruptcy, extremely happy and pleased that I did,” states Pamela B., a client of Lewis and Jurnovoy. “I have never had the experience where an attorney and their staff were extremely helpful and knowledgeable in this difficult time in my life. Mr. Lewis was the extreme gentlemen while we were in court, he stood with me the whole time and let me know that everything was going to be ok. I would recommend Lewis and Jurnovoy to anyone that is having financial troubles.”

For more information about Chapter 7 bankruptcy, please call Lewis & Jurnovoy, P.A. at (850) 432-9110, or visit their website at www.lewisandjurnovoy.com.