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Bankruptcy / Chapter 7

What is a Chapter 7 bankruptcy, and what is the difference between a Chapter 7 versus a Chapter 13?
Chapter 7 is also called Straight Liquidation bankruptcy. In a Chapter 7, we can usually eliminate unsecured debts, such as credit cards, medical bills, repossession deficiencies, and signature loans, which allow you to get a fresh start, and financial independence.

Chapter 13 is also called Debt Consolidation, or the Wage Earners Plan. Chapter 13 is primarily designed to allow you to stop foreclosures and repossessions, and allows you to make up the back payments in a 36 to 60 month plan. In a Chapter 13, we can also consolidate other bills, such as your car payment, whereby you may be able to only pay the value of the car, and not the loan balance. Other debt that can be consolidated includes tax debts, student loans, and child support or alimony arrears.

How long does it take?
Once we file your case, it usually takes 3-4 months to complete a Chapter 7 case and receive a Discharge of your debts.

How many times will I have to go to court?
In a Chapter 7 bankruptcy, you should not have to go before a judge at all. The only appearance you have to make is before the trustee at the Meeting of Creditors.

What is a discharge?
A Chapter 7 Discharge is an order signed by the Bankruptcy Judge declaring all of your debt to be discharged. We will discuss with you what debts cannot be discharged.

How long does bankruptcy remain on my credit bureau report?
A Chapter 7 bankruptcy can be kept in the public records section of your credit report for 10 years.

How long does it take to reestablish credit?
You will probably find you can get credit right away, but at high interest rates. However, most people find it only takes about two years to build their credit up so they can obtain credit with good quality interest rates.

Can my employer fire me for filing bankruptcy?
No. Federal law 11 U.S.C. 525 precludes a public or private employer from discriminating against any employee for filing bankruptcy.


2 Offices to Serve You: PORT ORANGE & DELAND

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Pt Orange ♦ (386) 258-3900

Deland ♦ (386) 738-9992

Contact Information

Sheryl Zust Bankruptcy Attorney

Port Orange:
Gulfstream Village
4649 S. Clyde Morris Blvd.
Suite 610
Port Orange, FL 32129
Phone: 386-258-3900

Business Hours:
Monday-Thursday 8:30 a.m.-5 p.m.
Friday 8:30 a.m.-4 p.m.

Mainstreet Center
101 N. Woodland Blvd.
Suite 213
Deland, FL 32720
Phone: 386-738-9992

Business Hours: By appointment