Bankruptcy chapter 7 Florida is known as straight bankruptcy. With this type of bankruptcy, all of the debtor's assets are liquidated, meaning all of their possessions are sold off to pay the creditors. Chapter 7 is the quickest and the easiest way to file bankruptcy but that does not always mean it is the best. You must be below the median income in order to qualify for bankruptcy chapter 7 Florida. If you do not meet the income guidelines, you may need to file chapter 13. For Florida, for cases filed after March 15, 2009, the median income for a single wage earner is $42,468; for a family of two, it is $53,939; for three, $60,162; and for four, $71,124. Add $6,900 for each individual in excess of 4. There are certain debts which will not be wiped out with bankruptcy. They include child support, student loans, alimony and the most recent back taxes. Other than those expenses, all debts are wiped out and the debtor starts with a clean slate. When considering filing bankruptcy chapter 7 in Florida, you must first file a Statement of Financial Affairs with the courts. This is a detailed list of all debts, secured and unsecured.