The decision to file for bankruptcy is a difficult one. It is often accompanied by unnecessary guilt and/or shame. It is often feared because of its public nature. This overview is designed to demystify the bankruptcy process. Reading it prior to meeting with a bankruptcy attorney will allow you to concentrate on the specifics of your case.

What exactly is bankruptcy? Most importantly, it is not the end of the world. According to Wikipedia, it is “a legal status of an insolvent person or an organization, that is one who cannot repay the debts they owe to creditors”. Simply put, it is a legal way to recover from a myriad of financial problems. It offers a person or business the opportunity to start over by forgiving debts that otherwise can’t be paid. In the process, creditors get a guarantee of some amount of repayment from available assets.

The bankruptcy process involves the following basic steps:

  • A petition is filed by a debtor (most often) or by creditors (least often.
  • The debtor’s assets are measured and evaluated by way of a Means Test.
  • The Court determines the terms of repayment.
  • Assets are used to repay a portion of the debt, as determined by the Court.
  • Upon completion of repayment, the debtor is relieved of the debts that made filing necessary in the first place.

As basic as the steps are, the process itself can be difficult. The legal team at Parker & DuFresne with offices in Jacksonville, Florida is prepared to guide you through the process in such a way that you are comfortable, confident, and not overwhelmed. Through patient and respectful consultation with you, our attorneys will determine if and what kind of bankruptcy is right for you. We will have your best interest in mind every step of the way so that you receive all rights to which you are entitled. Our competent staff will make sure that you fulfill your obligations, making sure that you do not lose your discharge for neglecting a detail.

If you are at the point at which you are considering bankruptcy, your plate is probably overflowing, the straw has broken the camel’s back, and you have already gone down for the third time. Bankruptcy could be the means of getting you back on the road to financial recovery. At Parker & DuFresne, we will help you make that decision.

DISCLAIMER – This bankruptcy overview is not intended as an exhaustive review of bankruptcy law in Florida. It is not to be regarded nor relied upon as legal opinion applicable to all circumstances. Each case is different and requires individual advice. If you have an inquiry or a concern please contact us to schedule a consultation by calling 904-733-7766 or by completing the on-line form at

Client Reviews
I was provided with a free consultation and was given great advice. I would definitely recommend Chip Parker to anyone who needs assistance with financial law.
Chip's law firm helped me through the bankruptcy process with ease. The staff was always willing to answer questions and ensured that their answers were provided in a timely manner. A great firm to represent you. Kevin
Mr. Parker and Mr. DuFresne along with their staff went the full mile to help my wife and I through some tough financial difficulties. They take great pride in doing what thy do and I would recommend them to anyone. Robert
Chip Parker autographs his work with excellence. Finding an attorney with real integrity in today's world of law is not an easy task. Chip believes in balancing the scale of Justice and removes the blind fold so the injustices are clearly seen. Thanks for all the good you and your firm achieve. Joy
I took a very complex problem to Chip, and he spent a generous amount of time outlining specific options. Chip has an amazing ability to grasp the important issues and quickly narrow down the key points. He is the best person to have on your side. Phenie