Chapter 7 Bankruptcy
The Bankruptcy Code offers four basic types of bankruptcy relief: Chapter 7, Chapter 11, Chapter 12 and Chapter 13. Each chapter handles a different financial situation. If you are the average person filing for bankruptcy, it is likely you will want to file under Chapter 7 or Chapter 13. Either Chapter 7 or Chapter 13 may be filed by an individual or jointly by a married couple.
No matter which chapter of bankruptcy in Florida you choose, a Tampa bankruptcy attorney is highly recommended to protect you, your rights and your property.
If you are struggling with debt and want to learn more about bankruptcy, contact B&B Law Group in Lutz, Florida. Our experienced bankruptcy lawyers serve clients throughout the greater Tampa Bay area.
Discharge Debts Through Chapter 7 Bankruptcy
Chapter 7 is a liquidation bankruptcy. It is sometimes referred to as a "straight" bankruptcy. Through a Chapter 7 bankruptcy, you may discharge credit card debt, medical bills and most forms of consumer debt. However, some debts are non-dischargeable for public policy reasons such as alimony, child support, student loans, certain tax debts and restitution.
By filing for Chapter 7 bankruptcy, you may be able to:
- Eliminate or significantly reduce your debts
- Stop creditor harassment
- Stop an auto repossession
- Stop a wage garnishment
- Gain a fresh start
In exchange for the debt relief provided by a Chapter 7 bankruptcy, you may have to give up certain property you cannot protect under the law to be sold as part of the bankruptcy estate. An experienced bankruptcy lawyer may help you maximize which property you may keep and ensure that your rights are protected.
Eligibility for Chapter 7 Bankruptcy
To be eligible for Chapter 7 bankruptcy, in some cases, you must pass a Means Test. However, most of the people who contact our office are eligible for Chapter 7 relief. Even in cases where an individual is ineligible for Chapter 7 bankruptcy, they are often eligible for Chapter 13 relief. Visit our page on bankruptcy eligibility to learn more.
Contact Our Tampa Chapter 7 Bankruptcy Attorneys
We are pleased to offer a free consultation and case evaluation to help you determine if bankruptcy is right for you. We can also help you determine which type of bankruptcy is best for your situation. For help, call us today at 813-333-9583 or contact us by e-mail.
