Tampa Chapter 7 Bankruptcy Attorney

Chapter 7 Consumer Bankruptcy Attorneys

Serving Tampa, Riverview, Brandon & Hillsborough County

As economic uncertainty and debt becomes overwhelming and unmanageable, discharge in consumer bankruptcy can provide needed debt relief for individuals, families and businesses. In addition to discharging debt, filing a petition for bankruptcy puts an end to harassing creditor calls. Furthermore, it can actually help your credit score upon discharge; whereas not filing for bankruptcy just maintains the status quo. At All Family Law Group our compassionate and responsive Tampa chapter 7 bankruptcy attorneys offer effective and experienced Chapter 7 bankruptcy services. We understand and put ourselves “in our clients’ shoes” to help resolve and eliminate debt obligations for those who have suffered economic loss. It can happen to anyone at anytime.

Chapter 7 personal bankruptcy procedure as follows:

• A credit counseling course is required to be taken within 180 days of filing. This can be taken online, via telephone or in person.
• A Bankruptcy Petition and all of the schedules are prepared and filed with the Court.
• A trustee and judge are assigned to the case.
• A Meeting of Creditors is scheduled approximately 33 – 35 days after the date of filing. All parties to the bankruptcy must attend the Meeting of Creditors.
• You must present a current Driver’s License and Social Security Card at the Meeting of Creditors.
• If you are retaining personal or real property, the lender may require that you sign a Reaffirmation Agreement, in order for you to keep your property. This is especially true for personal property, as it is relatively easy for the lender to retrieve the property if the agreement is not signed. However,it is becoming more common that lenders on real property are requesting that the debtor sign a reaffirmation agreement. Although, if the debtor does not sign one, it is unlikely that the lender would foreclose upon the property as that is more complicated than retrieving property.
• A personal financial management counseling course must be taken prior to discharge. This can be taken online, via telephone or in person.
  The case is generally discharged approximately 60 to 90 days after the Meeting of Creditors.

Individuals or families pursuing personal Chapter 7 bankruptcy are able to retain some or all of their property pursuant to the applicable exemption limits, which differ by state. If the value of your assets exceeds the exemption limit, then the difference or the property itself will have to be given to the trustee to pay creditors who make a claim in your case. In addition, after you have received your bankruptcy discharge, any income or assets you obtain are yours to keep unless you receive (or become eligible to receive) an inheritance, insurance proceeds, or proceeds from a divorce settlement within 180 days after your filing date. If so, then the trustee must be notified.

Businesses pursuing Chapter 7 bankruptcy follow the same procedure and rules as individuals filing Chapter 7 bankruptcy. Usually the business will be liquidated and must cease operations unless operations are continued by a Chapter 7 trustee. Furthermore, any assets of the business and assets of the owners and/or shareholders of the business are subject to the same exemptions as for individuals. If more than 50% of your debt is for business, then there is no means test requirement even if your income is over the median income for Florida.

Do you have questions on how to free yourself, your family or your business from crushing debt? Call 813-672-1900 or e-mail the experienced Tampa Chapter 7 bankruptcy attorneys at All Family Law Group for a no-charge initial consult to advise you of your rights.

Members of our Tampa consumer bankruptcy attorney team will give you information on your available personal and homestead property exemptions and explain how your debt will be discharged. Are you concerned about losing the following property in Chapter 7 bankruptcy proceedings?

• Homes and investment properties
• Furniture, furnishings and appliances
• Pensions and retirement accounts
• Vehicles
• Tools related to your trade
• Workers’ compensation income
• Personal injury claims

Consult with an experienced Tampa Chapter 7 bankruptcy lawyer for detailed information. Some of these listed assets may be kept in full, while for others you are limited to a certain amount of equity. If there is a risk that property you wish to retain will be lost, we will inform you prior to filing for bankruptcy so that you can choose whether or not to proceed with the bankruptcy action. Once a Chapter 7 bankruptcy is began, it cannot be dismissed without approval of the Bankruptcy Court. If you have assets to pay creditors, then it is unlikely that the Court will allow the case to be dismissed. That is why you must be very careful when originally filing your case.

Contact a Knowledgeable Tampa Chapter 7 Bankruptcy Attorney at All Family Law Group, P.A.

If you have questions about filing for consumer, personal or individual bankruptcy, we offer a free initial consult to look at your particular situation to determine if you qualify for a chapter 7 bankruptcy and your options if you do not qualify. Contact our firm by e-mail or call 813-672-1900. We will respond at our earliest opportunity!