For many years people have had a misguided impression about bankruptcy. There has been a social stigma attached to it that makes it something to avoid, even for those who have crippling debts. But thankfully, this public perception has begun to change. The fact is, the law has provided bankruptcy as a solution for those who are struggling with insurmountable debts. No matter how you may have accumulated those debts, you deserve a second chance through bankruptcy.
The Tampa Bay Bankruptcy Bar Association has more than 300 qualified bankruptcy attorneys who can help you start a new life free from the burden of debts. Please call your Tampa Bankruptcy Attorney at (813) 200 4133 or toll free (800) 965 5074. I will mobilize my entire team of professional Tampa lawyers to respond to you.
The first thing you will want to do is check out our section, ‘Bankruptcy Evaluation’ to see whether you are likely to need bankruptcy protection. Once you have ascertained that, then contact us at the number above and we will help you decide what form of bankruptcy you want relief from. There are two Chapters in the Bankruptcy Code you can apply for – Chapter 7 and Chapter 13.
Generally, you can only qualify to apply for a Chapter 7 bankruptcy when you income is less than Florida’s average minimum income for a family the size that you have. This is known as ‘passing the means test’. Please refer to our section, ‘Florida Bankruptcy’ to see the means test table. Chapter 7 eliminates your unsecured debts like credit card bills, medical bills and other unsecured loans. Once you have been discharged from these loans, you can start rebuilding your credit immediately although your bankruptcy record stays with you for 10 years. With your unsecured loans wiped out, you can now apply for fresh credit. The law sets a time bar of 8 years before you can make another application for a Chapter 7 bankruptcy. This may work in your favor in your fresh credit applications.
A Chapter 13 bankruptcy is where you restructure your loans to repay your debts over a period of 3 to 5 years. This is also known as the Wage Earner’s Plan. Once you make a Chapter 13 filing, you can obtain a court order to halt all foreclosures or repossessions that are pending on your assets. Likewise, the court will prevent your creditors from continuing to harass you over your debts.
Last year, over a million people all over the nation filed for bankruptcy. They are on their way to a new lease in life, without crippling debts. How about you? Call us at (813) 200 4133 or toll free (800) 965 5074 for a free consultation.