News & Announcements

Top Benefits of Filing Chapter 7

June 21, 2017 | Category: Chapter 7

If you are struggling financially, it may be time to consider how filing a bankruptcy could benefit you and your family. An individual who wants to file bankruptcy will either file a case under Chapter 7, Chapter 11, or Chapter 13. Each type of case has its own pros and cons to consider. This blog focuses on the benefits provided by a Chapter 7 filing:

  • Once a Chapter 7 bankruptcy case is filed, the automatic stay is in effect, which prohibits creditors from taking any collection activity against you while your case is pending (unless a creditor obtains relief from the automatic stay).
  • A Chapter 7 bankruptcy allows you to discharge most, if not all, of your unsecured debt. The most common examples of unsecured debt are credit cards and medical bills.
  • The Chapter 7 process is quicker than the other types of bankruptcy filings. A Chapter 7 case can be over in as little as 3 months after it is filed, while the other types of personal bankruptcy can last for 3-5 years.
  • Your legal fees and costs are typically lower in a Chapter 7 case.
  • Although a Chapter 7 is a “liquidation” case, and there is some risk of losing non-exempt property, Chapter 7 debtors often keep most, if not all, of their assets.

The above are just a few examples of how a Chapter 7 case could benefit you and your family. Please keep in mind that every bankruptcy matter is different. If you are considering filing for bankruptcy protection, and you would like to schedule a no-cost consultation to discuss your options, please contact our office by completing the form on this website, calling us at 954-920-5355, or emailing us at

Leiderman Shelomith Alexander + Somodevilla, PLLC

Fort Lauderdale

2699 Stirling Road, Suite C401
Fort Lauderdale, FL 33312

T. 954-920-5355 | F. 954-920-5371


2 South Biscayne Blvd, Suite 2300
Miami, FL 33131

T. 305-894-6163 | F. 305-503-9447

© 2019 Leiderman Shelomith Alexander + Somodevilla, PLLC. All Rights Reserved. | Law Firm Essentials by PaperStreet Web Design

The hiring of an attorney is an important decision that should not be based solely on advertisements. Before you decide, ask us to send you free written information about our qualifications and experience. The information contained on this website does not constitute legal advice and is intended for general informational purposes. Also, the information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney client relationship. Also, the information contained on this website is not intended to be an advertisement and any unauthorized use of the information is at the user's risk. Reproduction, distribution, republication and retransmission of any material contained on this website is prohibited without the express written consent of Leiderman Shelomith Alexander + Somodevilla, PLLC.