St. Augustine Chapter 7 Bankruptcy Attorney/Lawyer Chapter 7 is available to both individuals and businesses. A bankruptcy filing under Chapter 7 of the Bankruptcy Code is often referred to as "liquidation." This is because the filer's non-exempt assets are converted to cash and used to pay creditors. Subsequently, the filer receives a discharge, even if certain creditors are not fully paid. The assets that are exempt from this process include a home, vehicles, retirement plans, certain personal property, and other property interests. In over 90 % of Chapter 7 filings by individuals, no property is ever "liquidated." There are limitations on discharges and on exempt property, and usually mortgages, other types of liens, and student loans will survive the process. Chapter 7 can eliminate medical bills, credit card debt, business debts, and other dischargeable unsecured debts. Dealing with Creditors St. Johns Law Group can help alleviate your stress and the harassing calls from creditors and collections agencies. After filing for bankruptcy, the filer comes under the protection of the Bankruptcy Court, and most creditors must stop collection activities. WHEN CREDITORS AND COLLECTION AGENCIES CALL, YOU CAN REFER THEM TO US. At St. Johns Law Group, we are always ready to discuss with our clients the many details of bankruptcy. We look forward to working for you on your path to financial recovery.