Filing Bankruptcy in Tampa and the Surrounding Area
Filing for bankruptcy in Tampa or throughout Florida has changed over the years. Many people believe these changes have favored creditors. Although there is some truth to it, a knowledgeable and experienced Florida bankruptcy attorney can use bankruptcy protection laws to better position their clients for financial recover and a fresh start.
Filing for bankruptcy in any city located in Florida is going to be similar so whether filing for a bankruptcy in Tampa, St. Petersburg or anywhere in Florida; expect to follow similar procedures.
Florida Bankruptcy Process Summary
- Gather paperwork to itemize current income sources, major financial transactions for the last two years, monthly living expense, debts, and property
- Determine which property is except from seizure base on the Florida exceptions and file a two page petition and several other forms at your Florida District bankruptcy court.
- Pay appropriate filing fees to the court which typically range from $274 to $1,039. These fees may not be waived but may be paid in installments.
- Once appropriate paperwork is filed with the bankruptcy court, an automatic stay immediately goes into effect. Creditors are than prevented from making direct contact with you or staking a claim on any of your property from the day filing forward.
- Upon filing, the bankruptcy court will assume control of your debts and property not covered by Florida exemptions. The trustee is appointed to see that your creditors are paid as much as possible by the uncovered exemptions.
- Approximately, a month after filing, the trustee will set up a 341 meeting of creditors. In this meeting creditors’ and debtor’s counsel negotiate any unresolved issues.
- Upon completion of the 341 meeting for a Chapter 7 bankruptcy, trustees and creditors have 90 days to challenge the debtor’s right to a discharge. If no challenges are made, the debtor will receive a notice from the court that his/her dischargeable debts will be discharged in approximately three months.
- If you filed for Chapter 13 there will be a hearing before a Florida bankruptcy judge who will either confirm or deny the repayment plan. If you hire an attorney you will most likely not have to attend the hearing. If confirmed and you follow through with your obligations, the balance on the dischargeable debts you owe will be eliminated at the end of your term.
Keep in mind that this is a summary of the Florida Bankruptcy Process. The process is more intricate and you may want to contact one of our bankruptcy lawyers in Tampa for a more thorough understanding.
Call our friendly staff (813) 222-8210 for a free consultation or complete our quick contact form.
We also offer general information to residents in Tampa and the surrounding area seeking additional insight into bankruptcy:
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