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Bankruptcy Attorneys
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As Tampa Bay bankruptcy attorneys, we understand that things happen to us in life that we don't expect. If you have lost your job or your home or you have suffered through a painful divorce, you may find yourself in deep financial debt and in need of one of our personal bankruptcy lawyers.
Foreclosure and unemployment are at an all time high. If you find yourself buried in debt, or about to lose a home or an investment property, before you make your next move, you should know your rights. Our Tampa Bay bankruptcy attorneys are here to explain those rights to you.
There are four bankruptcy chapters available to individuals. No matter what chapter a person files, he or she is required to file schedules listing all of his or her assets, liabilities, income and expenses. He or she is also required to file a statement of financial affairs listing any significant transfers of assets that have occurred in the years prior to the bankruptcy filing. This legal paperwork can be overwhelming, but our bankruptcy attorneys are here to help. In selecting the appropriate chapter or whether to file bankruptcy at all, it is critical that one consult with an experienced bankruptcy lawyer. At Perenich Law, our personal bankruptcy attorneys have represented thousands of consumers and businesses in bankruptcy cases for almost two decades. Regrettably, over the years, our personal bankruptcy attorneys have seen cases where a debtor has filed a bankruptcy case without the assistance of a bankruptcy lawyer. Many times, these cases have tragic results, even worse than the financial hardship which led that person to consider bankruptcy in the first place.
An individual can be eligible to file a petition in bankruptcy under Chapter 7, Chapter 11, Chapter 12 or Chapter 13. Once again, it is advised that you seek the counsel of a bankruptcy lawyer prior to filing any of the following chapters of bankruptcy.
Chapter 7 | Chapter 11 | Chapter 12 | Chapter 13
Chapter 7 is a liquidation bankruptcy. In simple terms, in a Chapter 7, the debtor surrenders all of his or her non-exempt assets and certain debts are discharged. Generally, in Florida a home is exempt. Additionally, a bankruptcy debtor can retain $1,000 of his or her personal property. If the debtor does not own a home, the personal property exemption is $5,000. Additionally, certain investment assets can be exempt such as annuities, life insurance and retirement accounts. If you find yourself in need of filing for Chapter 7 bankruptcy, contact us, our personal bankruptcy attorneys are here to help.
Chapter 13 bankruptcy provides for a repayment period that can last up to five years. It does not necessarily require that the debtor repay all of his or her debt, just that he or she commit all of his or her disposable income. A Chapter 13 can provide an avenue for an individual to save his or her home from foreclosure or to strip a second mortgage depending upon the value of the property. If you are thinking about filing Chapter 13 bankruptcy, contact us, our personal bankruptcy lawyers are here for you.
Chapter 12 bankruptcy is similar to a Chapter 13 except that only farmers or fishermen are eligible. If you are a farmer or a fisherman and are considering filing for bankruptcy, contact us, and let your Clearwater bankruptcy attorney help you sort through the legal mess.
Chapter 11 entails a reorganization of finances. While an individual can file a Chapter 11 case, it is usually for businessesThese cases typically involve tremendous complexity and require extensive legal work. An individual should not consider a Chapter 11 bankruptcy case except as a matter of last resort and only under the direction and representation of experienced bankruptcy lawyer. Only in the rarest of circumstances is a Chapter 11 appropriate for an individual. If you believe that filing for Chapter 11 bankruptcy is right for you, contact us, our bankruptcy attorneys are here to help you through this tough financial time.