New Bankruptcy Laws -  Tampa Bankruptcy Attorney and Bankruptcy Lawyer
Attorneys and Debt Counselors
Tampa, Bankruptcy Attorneys
3019 West Azeele Street
Tampa, Florida 33609

Phone: 813-876-3328
Fax: 813-876-3306
E-mail: pdc@bkrptlaw.com
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(813) 876.3328
On October 17, 2005, new bankruptcy laws went into effect in the United States. These new bankruptcy laws were
enacted on a federal level, which means they apply to all states, including Florida.
Contrary to popular belief, most people are not adversely affected by new bankruptcy laws. The most noticeable
change in new bankruptcy laws is that filers with higher incomes are not allowed to use Chapter 7 bankruptcy, but
instead will be required to repay at least part of their debt under Chapter 13 bankruptcy.
To learn how new bankruptcy laws relate to your situation, please
contact us for a free initial consultation with a Tampa bankruptcy
lawyer. In the meantime, here are some key points for new laws on
Florida bankruptcy:

• To file a Chapter 7 or “clean start bankruptcy” under new laws, you
must pass the “means test.” The means test measures your income
against your state’s median income. For example, if your income as a
Floridian falls below the median income for Florida, you would be
eligible for a Chapter 7 bankruptcy.

• If you earn more than your state’s median income, and the means
test concludes that you can afford to pay at least $100 per month
toward your debt, you would have to repay a certain amount of your
debt through a Chapter 13 bankruptcy.

• Under the new law, most bankruptcy filers have to pay for, and
receive, government-approved financial management education
before they are allowed to file bankruptcy, and also before their debts
are erased.
There are several other changes enacted by new bankruptcy laws such as fewer “automatic stay” protections. In
addition, new bankruptcy laws are considerably more complicated than previous laws, making a bankruptcy attorney
even more crucial to a favorable outcome in your case. For more information about new laws on Florida bankruptcy and
to receive a free consultation with a Tampa bankruptcy attorney, please contact us at (813) 876-3328 or e-mail
pdc@bkrptlaw.com.
Experienced and Affordable, Personal Service.