Fort Walton Beach Bankruptcy Law Firm Gives Guide to Chapter 7 Bankruptcy Details

Fort Walton Beach, Fla. - Lewis & Jurnovoy, P.A., a Fort Walton Beach Chapter 7 bankruptcy law firm, is helping their community understand Chapter 7 bankruptcy this month. The lawyers of Lewis and Jurnovoy routinely represent individuals and families who file for Chapter 7 bankruptcy in the Panhandle area. Lawyers Martin Lewis and Steve Jurnovoy are always excited for the opportunity to help people understand the complicated processes and procedures in bankruptcy law.

The first way the law firm in Fort Walton Beach has helped their community is by publishing a page on their website that explains Chapter 7 bankruptcy. Clients and interested individuals can read about how the proceedings work and what the requirements and outcomes are. Chapter 7 Bankruptcy is also known as liquidation bankruptcy. According to Lewis & Jurnovoy, P.A., individuals who file are freed from their secured debts after the repossession of their assets.

The Fort Walton Beach bankruptcy lawyers have also shared that Chapter 7 Bankruptcy requires individuals to take a preliminary income test known as the Means Test. The Means Test is a test used by the courts to decide whether a person’s income is enough to pay off their debts. Many factors are assessed in the Means Test including wages, regular bills, and loan obligations.

Since bankruptcy can be so complicated and difficult to understand for their clients, Martin Lewis and Steve Jurnovoy are happy to provide guides such as this. As a piece of advice to their clients, they say that the “decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems.”

For more information about Chapter 7 Bankruptcy or the Means Test, contact Lewis & Jurnovoy, P.A. today at (850) 863-9110. Clients can also visit their website www.lewisandjurnovoy.com to learn more.