Attorneys at the Affinity Law Firm represent individual debtors in Chapter 7 and Chapter 13 here in Jacksonville.

We also represent business Chapter 11 or Chapter 13 cases in the State of Florida.

Call today for a Bankruptcy Consultation.


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Gust Sarris
I was a business consultant and Entrepreneur for many years. During this time I had many attorneys and often felt that they certainly knew the law but often did not understand my business. About 8 years ago through my business efforts, I was in a place and time in my life where I could take some time off. I was always curious about the law and made the decision to attend law school. The first law practice I joined was not a fit for me. When I left I wanted to have a law firm that understood business and had a common sense approach to all forms of law The Affinity Law Firm was founded and immediately merged with the Law Office of Millie Kanyar. A strong partnership was formed that relied strongly on technology, business models, and an "affinity" for the law. In a short time another partner joined, Graham Syfert, and we have not stopped growing. Affinity Law now handles many types of law but has not forgot the basics that client service is number one. From the sound of our name you will find our approach to law refreshing. I hope that if you have read this far you will give us your enough trust to come in and see us and we will earn your trust. - Gust Sarris
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Jacksonville Bankruptcy Basics - Chapter 7 (liquidation)

Chapter 7:  Liquidation

The roots of Chapter 7 bankruptcy are actually biblical and found in Dueteronomy Chapter 15.  Before bankruptcy, people were put into debtors prisons until their family or loved ones could come up with enough money to pay their debts!  A lot of clients who come in to speak with us are worried about filing for Chapter 7, because they are good people and want to pay their debts, and some of them find comfort in knowing that the system was put in place for a reason. 

When a person files for bankruptcy under Chapter 7 they agree to have all of their possessions at the time of filing, taken by a court-appointed trustee and sold.  The proceeds from the sale are then used to pay creditors.  The result is a “fresh start” and all debts are discharged.

However, by law not everything you own can be taken and sold.  Each state has different rules on what qualifies as being exempt from sale by the court-appointed trustee.  In Florida some (not all) examples of the things you get to keep are:

  • Your home (homestead)
  • Insurance benefits you receive, retirement and pension funds (Ex: 401(k), IRAs, teachers, fire fighters, police, etc.)
  • Any alimony or child support you receive
  • Personal property up to $1,000 (husband & wife may double)
  • Certain Portions of Tax Refund 
  • Vehicle (up to $1,000)

Contact the Affinity Law Firm today to set up a free consultation for Chapter 7 bankruptcy.


Unknown said...

Nice post, most of the people are unaware of what does the meaning of chapter 7 bankruptcy. You have explained it in very clear and understandable format. Thanks keep it up, DIY4LAW

Unknown said...

When determining what is considered exempt, many states allow you to use the state's definition of exempt or the federal list of exempt property. Some states require you to use the state's list. Be sure to check your state's laws to find out what applies to your state. Thanks for such nice post about filing chapter 7.

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bankruptcy-toledo said...

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