Brief Overview of Chapter 7 Bankruptcy
Chapter 7 bankruptcy, sometimes called “liquidation bankruptcy,” is designed to give individuals a fresh start by discharging most unsecured debts. To qualify, the court applies a “means test” that compares your income and expenses. If your disposable income is too low to fund a repayment plan, you may be eligible for Chapter 7 relief.
Filing Chapter 7 can temporarily pause foreclosure proceedings, giving you time to explore your options. In Florida, many people are able to keep their primary residence if they are current on their mortgage, thanks to the state’s strong homestead exemption. It is important to consult a knowledgeable Tampa Bankruptcy Attorney to review your assets and determine what protections apply in your case.
Our firm provides affordable Chapter 7 Bankruptcy services in Tampa, Orlando, and surrounding areas. We help clients determine eligibility and the most effective path forward. Legal fees for a Chapter 7 filing start at $999, plus the court’s $338 filing fee.
Brief Overview of Chapter 13 Bankruptcy
Chapter 13 bankruptcy is intended for individuals with steady income who can repay a portion of their debts over time. Instead of liquidating assets, Chapter 13 involves creating a repayment plan managed by a court-appointed trustee. Payments usually last between three to five years, after which remaining eligible debts are discharged.
Our Chapter 13 services are designed to be accessible, with legal fees starting from $999 down, plus the $313 court filing fee. This chapter can be especially helpful for stopping foreclosure, catching up on missed mortgage payments, or restructuring certain debts while keeping valuable property.
341 Meeting of Creditors
Every bankruptcy filer must attend a “341 Meeting of Creditors,” where the trustee and creditors may ask questions about your financial situation. When you choose our Affordable Bankruptcy Law Firm, you are not alone—our experienced Tampa Bankruptcy Attorney will represent you at this meeting and guide you through each stage of the process.
We offer free bankruptcy consultations so you can understand your rights and explore your options before making a decision.
Typical Costs to Keep in Mind:
- Attorney fees start at $999 for both Chapter 7 and Chapter 13 filings.
- The court filing fee is $338 for Chapter 7 or $313 for Chapter 13.
- Two required credit counseling courses (pre-filing and pre-discharge) are typically $25 each, completed online.
- Credit reports are imported electronically into your case file, generally $30 for individuals or $50 for joint filers.
Because bankruptcy laws and exemptions in Florida can change, it is essential to work with an attorney who stays up to date. If you are struggling with debt and considering bankruptcy, our Tampa Bankruptcy Lawyers can help you determine whether Chapter 7 or Chapter 13 is the right solution for your circumstances.
Our Tampa Bankruptcy Attorneys proudly serve clients across Tampa Bay and many other communities throughout Florida.