Chapter 7 Bankruptcy Lawyer Tampa, FL
A call to our trusted Chapter 7 bankruptcy lawyer Tampa, FL turns to should be one of your first steps. Especially if you are struggling to answer your phone each time a number comes through that you do not recognize. As debts begin to increase, many may be unable to make their regularly scheduled payments, and as a result, debtors may succumb to incessant calls from collections agencies. While there are several types of bankruptcy filings to choose from, depending on your needs, we may recommend that you consider Chapter 7, one of the most widely used types of personal bankruptcy. Carolyn Secor, P.A., has seen many people come through her doors feeling shameful of their financial decisions. Know that you are not alone. Sometimes debts come as a result of the unexpected, and filing for Chapter 7 is a way to wipe the slate clean. The following outlines the process of filing for Chapter 7 bankruptcy:
Know the Steps of Filing Chapter 7 Bankruptcy
Our team will work closely with you to gain intimate knowledge of your financial situation. We want to know the details of your financial dealings to make a decision that is informed by the specifics of your case. Once we understand your situation’s full scope, we can then provide you with options that are in your best interest. Sometimes, bankruptcy may not be the right step for you, and with our assistance, we will be able to offer you alternatives. Know that after reviewing your case, it may be possible to discharge many of your unsecured debts under Chapter 7, for example:
- Credit Card Debt
- Medical Expenses
- Student Loans
- Utility Bills
- Personal Loans
Our Tampa, Fl Chapter 7 bankruptcy lawyer wants you to be aware that these types of debts are often just right for Chapter 7. However, if you have many secured debts such as car loans and house payments and are looking to retain the assets, another option may be more appropriate.
As part of the Chapter 7 bankruptcy process, debtors will need to qualify for this type of bankruptcy filing. When working with our team, we will need to know your income level. This information is critical when determining whether your income falls below the state’s median standard. To decide whether or not you qualify for Chapter 7, debtors will need to undergo and pass the means test. If you are unable to meet this standard, we can discuss alternative bankruptcy options that may be better suited to your needs. However, if you pass the means test, your next step will be to complete credit counseling. Credit counseling is a requirement for anyone who is considering bankruptcy as an option.
Once we have solidified that you qualify for Chapter 7 and that it is in your best interest to move forward, we will work closely with you to initiate the bankruptcy process. Chapter 7 filing begins with the bankruptcy petition. For this, you must produce all relevant information regarding your debts and assets so that we can move forward seamlessly. Know that any non-exempt property will need to be liquidated to pay off your debtors during the process. Despite this, it’s important not to fret; we will work closely with you to ensure that you can keep as many of your assets as possible. In some situations, we will help you retain many of your assets throughout the process.
To finalize the process, debtors must meet with the bankruptcy trustee and attend a creditors’ meeting, also known as the 341 meeting. Following this process, debts are discharged, and you will be able to move forward with a clean slate officially.
Call for the Legal Help You Deserve
Filing for bankruptcy is not an impulsive decision that debtors should take lightly. Chapter 7 is a significant financial mood that should be made after much assessment of your specific financial situation. Additionally, reaching this determination will call on the legal services of Carolyn Secor, P.A. By scheduling a consultation with us, you aren’t obligated to file for bankruptcy; you simply have the opportunity to review whether this is the right next step for your future. Contact our firm to meet with our experienced Tampa, Florida Chapter 7 bankruptcy lawyer to learn more.