Panama City Beach Bankruptcy Attorneys Want to Help Their Clients Better Understand Chapter 7 Bankruptcy

August 27, 2019 – – Panama City Beach, FL. – Panama City Beach bankruptcy attorneys Martin Lewis and Steven Jurnovoy of Lewis & Jurnovoy, P.A. have created a short guide to understanding Chapter 7 bankruptcy. They hope to inform as many people as possible as to what filing under Chapter 7 bankruptcy is about.

First, Chapter 7 bankruptcy, also known as “Straight Bankruptcy”, is a way for individuals to be freed from most of their debts without repaying their creditors. Some assets that the debtor owns will be repossessed to pay creditors.

The bankruptcy lawyers in Panama City are often asked what debts will not be forgiven. According to Florida law, there are a handful of debts that, unless in extremely special circumstances, will still have to be repaid. For example, child support, student loans, and taxes are common debts that will not be forgiven.

Another question commonly asked is what assets will be taken as repayment to creditors. Lewis & Jurnovoy, P.A. explain that under Florida’s bankruptcy laws, each debtor has exempt property that will not be reclaimed. Exemptions are protected assets that cannot be taken from the debtor. Common exemptions are personal property, homes, Social Security benefits, and cars. Each case is unique, so be sure to consult a bankruptcy lawyer to find out what assets won’t be taken.

The team at Lewis and Jurnovoy has worked exceptionally hard to provide helpful tips to their community. They are dedicated to keeping their clients informed about bankruptcy and how it will affect their case. Both Martin Lewis and Steven Jurnovoy host a television program that answers questions regarding bankruptcy.

Former clients of the Panama City Beach bankruptcy law firm have no doubt benefitted from their dedication to succeed. Jen P. gave her appreciation to the firm by saying she, “highly recommends Mr. Lewis and Mr. Jurnovoy. I really appreciate how they helped me through the whole process as well as their compassion for my situation.”

To find out more about Lewis and Jurnovoy, call them today at (850) 913-9110 or visit their website www.lewisandjurnovoy.com.

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For more information about Lewis & Jurnovoy, PA – PCB, contact the company here:

Lewis & Jurnovoy, PA – PCB
Steven Jurnovoy
(850) 913-9110
bankruptcylawyers.pcb@gmail.com
1004 Jenks Avenue
Panama City, FL 32401

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