Chapter 7 Bankruptcy Lawyer Tampa, FL

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If you are struggling to keep up with your monthly expenses due to overwhelming amounts of debt, the idea of filing for bankruptcy most likely has crossed your mind and you should contact a Tampa, FL Chapter 7 bankruptcy lawyer now. Should you reach the determination that bankruptcy is the most appropriate option, you will need to make a number of decisions. Although you may choose to pursue bankruptcy pro se (without a chapter 7 lawyer), it may be a good idea to have legal counsel. A Chapter 7 Tampa lawyer in Florida can be invaluable in providing you with guidance in order to determine the best strategy moving forward. When considering chapter 7 bankruptcy, take the time to properly research attorneys in your area so that you are able to find a professional who is experienced with bankruptcy proceedings. Ziegler Diamond Law: Debt Fighters has extensive experience with Chapter 7 bankruptcy and would be happy to speak with you.

Bankruptcy is a debt relief option for those who want to get their financial life back on track. It is a form of federal protection that protects people in debt from being harassed from creditors and from living underneath the weight of crushing debt with no solution in sight. Chapter 7 is known as liquidation bankruptcy, as this process can lead to the elimination of eligible debts in as few as 90 days.

Are all kinds of debts erased with Chapter 7?

Unfortunately, no. While the majority of debts, including those from out of state can be eliminated by the Court, some debts (including federal student loans, except under truly extreme circumstances) can’t be discharged. A consultation with an experienced Tampa Chapter 7 bankruptcy lawyer will help you figure out what to expect if you choose this Chapter as your route to debt relief.

What is a trustee?

In Chapter 7 bankruptcy cases, a trustee is named as the person to act on behalf of the court. They will be the ones to gather any non-exempt assets you may have, sell them, and pay your creditors with the money resulting from the sale. Trustees are also important because they ensure the entire chapter seven bankruptcy process is done correctly and efficiently. If you’re concerned about losing your property during the bankruptcy process, know that most low-income filers are able to keep most, if not all of their property safe from this risk. An experienced Tampa, FL Chapter 7 attorney can explain when an asset may be too valuable to be considered exempt by the Court.

What are some exempt assets?

Even though each state has different rules on what is included during the asset exemption process, typically the properties you can keep are a mix of:

Asset Type	Exempt	Non-Exempt	Explanation
Primary Home	Yes (up to a value)	No (if value exceeds limit)	Limited based on state law
Vehicles	Yes (up to a value)	No (if luxury or excessive value)	Basic vehicles are protected
Clothing	Yes (reasonable amount)	No (if deemed excessive)	Necessary clothing is exempt
Household Furnishings	Yes (essential items)	No (if luxury items)	Ordinary household goods allowed
Tools of Trade	Not specifically in Florida	No (if overly valuable)	Tools essential for employment
Public Benefits	Yes	N/A	Social Security, unemployment, etc. are protected

What Are the Steps in Filing For Chapter 7 Bankruptcy?

When you decide that filing for bankruptcy is right for you, you may not have a plan much farther laid out than that. While this is a helpful first step, there are different options to choose from when it comes to filing for bankruptcy and timing can be key. It is important to remember that this is a huge step for you financially and likely emotionally. We know that this can seem very overwhelming, but we are here to get you back on your feet and show you how to take better care of yourself financially. Below, we walk you through some of the steps you can expect if you choose to file for Chapter 7 bankruptcy. 

Steps For Filing For Chapter 7 Bankruptcy

Step	Description	Estimated Time	Additional Notes
Preliminary Eligibility Check	Review of income and assets based on estimates provided by client to determine eligibility	During consultation
Credit Counseling	Complete a credit counseling course	1-2 days	Must be from an approved agency
Filing Petition	Submit required bankruptcy forms to the court	Depends on when client provides documents; after petition has been drafted and reviewed	Done through the lawyer or pro se
Automatic Stay	Court prevents most creditor actions	Immediately	Stops harassment by creditors
Meeting of Creditors	Trustee verifies financial records and identity	Approximately 1 month after case filed	Creditors may or may not attend
Property Exemptions	Identify assets that can be retained	Throughout process	Depends on state-specific rules
Discharge	Eligible debts are discharged by the court	90 – 120 days after filing	Certain debts (e.g., student loans) are not discharged

 

Who can file for Chapter 7?

While any person who has citizenship, has property in, and does business in the United States can file for Chapter seven, it is recommended that only those who have substantial debts and not enough steady income file for Chapter 7. This Chapter is seen as a very drastic measure as your property will be taken away from you, so if you have adequate income, a Tampa, Florida Chapter seven bankruptcy lawyer may suggest you file for the repayment plan of Chapter 13.

Filing for bankruptcy can be confusing, but you don’t have to feel overwhelmed if you work with an experienced Tampa, Florida Chapter 7 bankruptcy lawyer at Ziegler Diamond Law: Debt Fighters Do not hesitate to set up a consultation with us today to learn more about your debt relief options and how we can support the option that makes most sense in your situation.

Chapter 7 bankruptcy offers powerful relief, but it’s designed for those facing overwhelming debt with limited income. Since it may require the sale of your assets, it’s not always the right fit. A skilled bankruptcy attorney can guide you toward the best path-whether it’s Chapter 7 or a Chapter 13 repayment plan-based on your unique financial situation.

Should You File for Bankruptcy Pro Se?

For a number of debt sufferers seeking bankruptcy, filing for bankruptcy “pro se” or, on their own can seem like the least expensive and most straight forward option. After all, with such a wealth of information on the internet, how hard can it possibly be? When people are already drowning in debt, the last thing they want to do is incur more expenses when pursuing bankruptcy by retaining an attorney. Engaging in bankruptcy proceedings pro se may result in a number of problems:

• Filing for the wrong chapter
• Not being completely educated prior to pursuing bankruptcy
• Failing to file the appropriate documents
• Not having a clear understanding of exemptions, ultimately risking losing property or assets that you may have been able to retain with an attorney’s help
• Failing to have a clear understanding of bankruptcy proceedings
• Causing greater problems that ultimately result in the need for an attorney

Although in some cases, it may be possible to get through bankruptcy proceedings without an attorney; having legal counsel by your side can ensure that your interests are protected and that the process runs as smoothly as possible.

How a Chapter 7 Bankruptcy Lawyer in Tampa, FL Can Help

A chapter 7 lawyer may prove to be invaluable when pursuing bankruptcy. The process can be stressful. When faced with complications to your filing (should they arise), a bankruptcy attorney can strategize, negotiate and protect your interests. There are other ways a chapter 7 bankruptcy attorney can help you when facing bankruptcy, such as:

• Reviewing your case to determine if Chapter 7 or Chapter 13 is the right course of action for you.
• Fill out all necessary documents in a timely and accurate way.
• Listen to you regarding your needs and help to develop a strategize that supports your interests.
• Provide you with clear direction regarding bankruptcy law within your state and help determine which of your assets may be exempt from the process.
• To represent you at all required bankruptcy hearings and negotiate with creditors should they dispute your bankruptcy.

In essence, a Tampa Chapter 7 attorney in Florida can help by making sure that the bankruptcy process progresses in efficient and effective ways.

Struggling with debt can be an all consuming issue to contend with. Despite efforts to come up with solutions that provide you with alternative options to bankruptcy, you may still find that bankruptcy is the best option for you. Although filing for bankruptcy pro se may be an option, with the assistance of a Chapter 7 bankruptcy lawyer in Tampa, FL, you can be assured that you are in the hands of an experienced professional.

What Bankruptcy Vocabulary Should I Know Before Filing? 

The process of filing for bankruptcy is relatively straightforward. However, it can initially seem intimidating and inaccessible, partially because there is a lot of misinformation published on the subject of bankruptcy and partially because the vocabulary of the bankruptcy process is unfamiliar to most Americans. Meeting with an experienced Tampa, Florida 7 Chapter bankruptcy lawyer from Ziegler Diamond Law: Debt Fighters can help to ensure that your understanding of the bankruptcy process is not colored by misinformation. Additionally, working with an experienced Tampa, FL 7 Chapter bankruptcy lawyer can help you to “unravel” some of the more complex terminology surrounding the bankruptcy process. As you prepare for your initial bankruptcy consultation, consider some of these common bankruptcy terms. If you have any questions about them, your Tampa, FL Chapter 7 bankruptcy lawyer can discuss them in detail during your initial conversation.

Bankruptcy Vocabulary – The Basics

  
Asset – Something owned by a debtor

Chapter – The U.S. Bankruptcy Code is broken up into chapters. Each major Chapter of the Code (including 7, 11, and 13) governs a different type of bankruptcy. Most consumers file under Chapter 7 and Chapter 13, while businesses generally file under Chapter 11.

Creditor – Someone who is owed money from a debtor

Debtor – Someone who owes money to a creditor

Injunction – Instructions from the court that prevent someone from taking a specific kind of action

Liability – The debt that is owed by a debtor to a creditor

Lien – A legal claim to possess an asset owned by a debtor until the debtor pays a creditor or otherwise fulfills the terms of a contract or agreement

Liquidation – The process of selling assets so that their value can be converted into cash

Means Test – The process of determining whether someone is eligible to file for bankruptcy (usually in reference to eligibility for Chapter 7 bankruptcy due to income limits on this process imposed by the courts)

Pro se – The process of representing oneself in court without the assistance of an attorney

Legal Assistance Is Available

If you’re interested in filing for bankruptcy, please schedule a risk-free consultation with our firm’s experienced Tampa, FL 7 Chapter bankruptcy lawyer today. Depending on your particular financial circumstances, it may make the most sense to file for bankruptcy under Chapter 7, Chapter 13 or even Chapter 11 of the Bankruptcy Code. No two households have the same financial challenges, so it’s important to speak with a Tampa, FL Chapter 7 bankruptcy lawyer before making assumptions about your debt relief situation. What may be right for one household isn’t always the best debt relief pathway forward for another. 

Once we learn more about the debt-related challenges that you and your family are facing, we’ll be able to advise you of your options and tailor our guidance and support accordingly. Consultations are always confidential and are no-obligation conversations, so there’s no reason not to come in for a chat. We look forward to meeting with you. Call our trusted Chapter 7 bankruptcy lawyer Tampa, FL relies on at your earliest convenience.