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relationship. Persons accessing this site are encouraged to seek independent counsel for advice regarding their individual legal issues. The hiring of a lawyer is an important decision that
should not be based solely on advertisements. Before you decide, ask us to send you free written information about our qualifications.
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Attorneys and Debt Counselors
3019 West Azeele St. Tampa, FL 33609
Tel. (813) 876-3328
Fax (813) 876-3306
3019 West Azeele St. Tampa, FL 33609
Tel. (813) 876-3328
Fax (813) 876-3306
BANKRUPTCY ATTORNEYS SERVING:
| BANKRUPTCY | DEBT RELIEF | DEBT COLLECTION | WAGE GARNISHMENT | FORECLOSURE | ARTICLES | BLOG | CONTACT | SITE MAP |
TAMPA
CLEARWATER
CLEARWATER
NEW PORT RICHEY
BRANDON
BRANDON
ST. PETERSBURG
TARPON SPRINGS
TARPON SPRINGS
RIVERVIEW
LAKELAND
LAKELAND
CHAPTER 7 BANKRUPTCY
CHAPTER 11 BANKRUPTCY
CHAPTER 13 BANKRUPTCY
BANKRUPTCY ATTORNEY
CLEARWATER BANKRUPTCY
ST. PETE BANKRUPTCY
CREDIT AFTER BANKRUPTCY
BANKRUPTCY FAQ
NEW BANKRUPTCY LAWS
CAN I FILE FOR BANKRUPTCY
BANKRUPTCY DEBT RELIEF
BANKRUPTCY EXEMPTIONS
BANKRUPTCY FILING FEE
CHAPTER 11 BANKRUPTCY
CHAPTER 13 BANKRUPTCY
BANKRUPTCY ATTORNEY
CLEARWATER BANKRUPTCY
ST. PETE BANKRUPTCY
CREDIT AFTER BANKRUPTCY
BANKRUPTCY FAQ
NEW BANKRUPTCY LAWS
CAN I FILE FOR BANKRUPTCY
BANKRUPTCY DEBT RELIEF
BANKRUPTCY EXEMPTIONS
BANKRUPTCY FILING FEE
TOPICS IN THIS SECTION
Tampa Bankruptcy Attorney explains Chapter 7 Bankruptcy.
As your Tampa bankruptcy lawyer, we can help you file for bankruptcy relief under U.S. Code, Title 11, with the
ultimate goal of saving your possessions, saving your home, and rebuilding your good credit. U.S. Code, Title 11
covers several different types, or "chapters," of bankruptcy. Our Tampa, Florida bankruptcy attorneys commonly
work with three of those bankruptcy chapters, Chapter 7 bankruptcy is as follows:
ultimate goal of saving your possessions, saving your home, and rebuilding your good credit. U.S. Code, Title 11
covers several different types, or "chapters," of bankruptcy. Our Tampa, Florida bankruptcy attorneys commonly
work with three of those bankruptcy chapters, Chapter 7 bankruptcy is as follows:
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Chapter 7 Bankruptcy
This chapter is a liquidating bankruptcy, also called a “straight bankruptcy” or “clean start” bankruptcy. Chapter 7
bankruptcy is not available to everyone. It is usually suited for those who are unable to pay their basic living
expenses, much less their outstanding debts.
The principle advantage of Chapter 7 bankruptcy is that your debts are discharged, meaning you would have no
further obligation to pay debts covered under the bankruptcy. Chapter 7 bankruptcy may also temporarily stop
foreclosure in Florida. Certain types of debts, however, cannot be discharged such as taxes, child support, student
loans, a some others.
Filing for chapter 7 bankruptcy allows you to keep your secured debt such as your home and your car, if you want
to. These debts are allowed to pass through bankruptcy without being affected. However, by keeping the debts,
you are responsible for paying them.
Adversely, if you don't want to keep secured debt, you can surrender the property and any debt associated with it is
forgiven completely.
Chapter 7 allows most individuals to eliminate all of their unsecured credit card debt and medical bills and to
keep all of their belongings. Occasionally, they may lose some property but this is usually very minimal.
Conveniently located in central Tampa, the bankruptcy lawyers at Attorneys and Debt Counselors will be glad to
meet with you about whether bankruptcy would be advantageous for you, and which chapter of bankruptcy would
meet your situation. Please call (813) 876-3328 to schedule a free consultation with a Tampa bankruptcy attorney
from Attorneys and Debt Counselors.
This chapter is a liquidating bankruptcy, also called a “straight bankruptcy” or “clean start” bankruptcy. Chapter 7
bankruptcy is not available to everyone. It is usually suited for those who are unable to pay their basic living
expenses, much less their outstanding debts.
The principle advantage of Chapter 7 bankruptcy is that your debts are discharged, meaning you would have no
further obligation to pay debts covered under the bankruptcy. Chapter 7 bankruptcy may also temporarily stop
foreclosure in Florida. Certain types of debts, however, cannot be discharged such as taxes, child support, student
loans, a some others.
Filing for chapter 7 bankruptcy allows you to keep your secured debt such as your home and your car, if you want
to. These debts are allowed to pass through bankruptcy without being affected. However, by keeping the debts,
you are responsible for paying them.
Adversely, if you don't want to keep secured debt, you can surrender the property and any debt associated with it is
forgiven completely.
Chapter 7 allows most individuals to eliminate all of their unsecured credit card debt and medical bills and to
keep all of their belongings. Occasionally, they may lose some property but this is usually very minimal.
Conveniently located in central Tampa, the bankruptcy lawyers at Attorneys and Debt Counselors will be glad to
meet with you about whether bankruptcy would be advantageous for you, and which chapter of bankruptcy would
meet your situation. Please call (813) 876-3328 to schedule a free consultation with a Tampa bankruptcy attorney
from Attorneys and Debt Counselors.
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What is the means test formula?
The means test formula is designed to evaluate whether a debtor has the financial means to pay back a substantial part of his debts
in a repayment plan through Chapter 13 bankruptcy. The means test formula considers measures of income and allowable
expenses.
If you do not have sufficient net monthly income to repay debts you are eligible to file Chapter 7; if the means test formula says you can
repay your debts then you are not eligible for Chapter 7 bankruptcy unless you prove "special circumstances" of hardship such as a
recent job loss or medical problem.
If you do not qualify for Chapter 7 bankruptcy, you may be eligible for relief in Chapter 13 bankruptcy.
The means test formula is designed to evaluate whether a debtor has the financial means to pay back a substantial part of his debts
in a repayment plan through Chapter 13 bankruptcy. The means test formula considers measures of income and allowable
expenses.
If you do not have sufficient net monthly income to repay debts you are eligible to file Chapter 7; if the means test formula says you can
repay your debts then you are not eligible for Chapter 7 bankruptcy unless you prove "special circumstances" of hardship such as a
recent job loss or medical problem.
If you do not qualify for Chapter 7 bankruptcy, you may be eligible for relief in Chapter 13 bankruptcy.
| Bankruptcy Attorney Tampa, St. Pete, Clearwater |