If you live or work in Lutz, Florida and are seeking a Bankruptcy Attorney, then Weller Legal Group may be able to help. The Bankruptcy Attorneys and Paralegals at Weller Legal Group have knowledge and experience in most matters relating to Bankruptcy Law, including Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Bankruptcy.
Chapter 7 Bankruptcy is commonly referred to as a Straight Bankruptcy or Straight Bankruptcy. In a Chapter 7 Bankruptcy, the Debtor is seeking to Discharge his or her Unsecured Debts. Discharge means one is forgiven of the Debt subject to the Discharge. Unsecured Debts include Medical Bills, Credit Cards, Deficiencies on Automobile Loans, Signature Loans, and Pay Day Loans.
In a Chapter 7 Bankruptcy, most Debtors retain their most valuable Assets, including their Automobile, Personal Property, and their Home or Homestead. Whether one can retain such Assets, usually is dependent upon whether such Assets are within the Exemptions available to that Debtor. Florida has its own Bankruptcy Exemptions, as do other States. Some States allow the Debtor to choose between the State Bankruptcy Exemptions and the Federal Bankruptcy Exemptions.
If the Debtor’s Assets or Property significantly exceeds the allowable Bankruptcy Exemptions, the Debtor may elect to protect those Assets from Liquidation by filing a Chapter 13 Bankruptcy. In a Chapter 13 Bankruptcy, the Debtor’s Assets are not subject to Liquidation or Sale. The Debtor may retain all of his or her Assets, provided the Debtor pays his Creditors an equivalent amount through a Chapter 13 Bankruptcy as such Creditors would receive through the Liquidation of such Assets in a Chapter 7 Bankruptcy. This is called the Liquidation Test.
A Debtor may also file a Chapter 13 Bankruptcy if his or her income, and household income, significantly exceeds the income levels determined by the US Trustee Office, in its Publication of Median Income Figures.
There are other reasons one may file a Chapter 13 Bankruptcy, as opposed to a Chapter 7 Bankruptcy. When you speak with Mr. Weller, he can advise you on the various Chapters of the Bankruptcy Code, and how they apply to you, and your individual circumstances.
For persons in Lutz, Florida, and in the greater Tampa community, we are here to help you. If you are considering Bankruptcy, please Contact our office today. Mr. Weller will not charge a fee for the Initial Consultation and will patiently explain how Bankruptcy applies to your own circumstances, and whether Bankruptcy is beneficial.
Are Tampa Office is convenient to our Clients in Lutz, Florida. We also have offices in Port Richey, Clearwater, and Lakeland.
You may speak with Mr. Weller by calling either 813-229-3328 (DEBT), or our Toll Free Number at 1-800-407-3328 (DEBT). You may also contact us through our website, by submitting either a Contact Form or though the Live Chat available through the same website.
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