Clearwater Chapter 7 Bankruptcy Lawyers

Servings Residents All Throughout Tampa, FL

Is debt ruining your life? You’re probably struggling to keep up with your mortgage, your car, credit cards, etc. We can make the debt collectors stop calling. Our Chapter 7 bankruptcy lawyers are here to help you take back your life. Call us right away to learn more.

Getting a Fresh Start

If you choose to file for chapter 7 bankruptcy you would be looking to have most of your debt wiped. You get to start over in a way.

You do need to be aware that if you’re going to have this fresh start, you have to be eligible for this type of bankruptcy which we will walk you through.

Our Clearwater Chapter 7 bankruptcy lawyers will show you how you can clear your debts with this type of bankruptcy. You should be very sure that you want to do this though.

We can guide you so you can make sure you’re making an educated choice. We do this all the time. We see the good this can bring people. If you’re even a little interested in this, take the first step and give us a call. It is essential to your success that you sit down and talk about your story to see if this is the best move for you.

Qualifying for Chapter 7 Bankruptcy

You will have to take something called a means test, which is something that shows your debt-to-income ratio. It will show which type of bankruptcy you’re eligible to file for. Those who don’t have a lot of income with a ton of debt will likely be qualified for Chapter 7 bankruptcy. This is likely not the case for you, if you do have more of a consistent and large income, but you’re not doing too well financially.

Chapter 7 may not be for you. When you decide to file for Chapter 7 bankruptcy, your debt will essentially disappear. That would not include debt like taxes or education loans. Our Clearwater Chapter 7 bankruptcy lawyers are here to help you understand that.

What Happens to What You Own?

People are usually afraid that bankruptcy means you’re going to have your stuff taken away from you. That’s not totally true. Some of your things will be liquidated but things that are not included are:

• Your clothes
• Your furniture
• Your house/car if you have less than $50,000 (or limited) invested in it
• Your retirement/pension

Bankruptcy Chapter 7 from Start to Finish

First off, you aren’t allowed to file for Chapter 7 bankruptcy twice in a certain time frame. You have to wait eight years until you can file an additional time. If you’ve filed Chapter 13, you have to wait six years until you can file for Chapter 7.

Again, you’ll take the means test, which will show that you are eligible for Chapter 7. After you’re eligible and ready to file, you will have to provide some documentation and send in the fees for the court. It could be a couple hundred dollars to file. You will likely need:

• Your bankruptcy petition
• A list of what your debts are
• Details of your assets
• Your proof of income
• A summary of your finances

There may be additional items you need, but our Clearwater Chapter 7 bankruptcy lawyers will help you as this happens. The next step after you have your petition filed is getting an automatic stay granted to you. This means that the debt collectors will immediately stop harassing you. No one will be allowed to collect debt from you, at this point.

You will also have an estate established. It will have all of your assets collected that can be liquidated and used in order to repay some of your debt. If you have any concerns about that, it’s good to talk to our Clearwater Chapter 7 bankruptcy lawyers to better understand that. You will have a trustee assigned to you to handle your case and there will be a meeting with your creditors.

You will have to talk under oath and answer any questions your trustee or creditors have about your debt. This meeting is held just to assure that you are filing Chapter 7 bankruptcy for a legitimate reason and you are not trying to abuse the system. Some of your assets will be liquidated through the estate to pay off your debts. If it’s not enough to cover all the debt you have then you are not going to have to pay the remainder.

Call Our Clearwater Chapter 7 Bankruptcy Lawyers Today

If you are looking to get your life back on track, we can help. You are not alone in this. It is important to us that you make the right choice. Sit down with us right away to see how our Clearwater chapter 7 bankruptcy lawyers can help you. Contact our office today to schedule a free consultation.