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While the recent recession appears to be over and our country is in recovery mode, some consumers are still falling behind on their financial obligations. Sometimes, the only way to get out from a mountain of unpaid debts is to file for bankruptcy. For many Miami residents, that means filing for Chapter 7 bankruptcy.

A debtor can get relief under Chapter 7 no matter the amount of the debts or the degree of the debtor’s insolvency. This does not mean that there are no restrictions. For instance, you can’t file bankruptcy under Chapter 7 (or other chapters) if during the preceding six-month period a prior petition for bankruptcy was dismissed due to a willful failure to appear in court or to comply with any court orders. It is also prohibited if the debtor voluntarily dismissed his or her prior bankruptcy case when creditors sought relief to recover property held by liens.

Credit counseling from an approved agency is also mandated in order to file bankruptcy, although provisions are in place for emergencies or when no agencies are available to counsel the debtor. While undergoing counseling, a debt management plan may be developed and filed with the court. However, some debts like child support arrearages and student loan debt are non-dischargeable by bankruptcies. If a debtor has any liens against his or her property, these are not extinguished by a bankruptcy discharge.

Put a stop to the harassing phone calls from creditors and turn your financial future around. To learn more about how to file for consumer bankruptcy and regain your peace of mind, a Florida attorney who practices bankruptcy law is a good source of information.

Source: United States Courts, “Liquidation Under the Bankruptcy Code” Sep. 10, 2014