Working with a bankruptcy attorney St. Petersburg FL can help give you a fresh start financially, even if it seems impossible at first. Bankruptcy is not difficult when you take it one step at a time. Filing for bankruptcy isn’t easy, but it may be your only way out of excessive debt.
Under new bankruptcy laws, anyone who files must take a credit counseling course from an approved government agency within six months of filing. You must also complete a debtor’s course. The debtor and credit counseling courses are different and both must be completed. The counseling session involves an assessment of your financial situation, a discussion of other options, and a personal budget plan. You should finish these sessions within an hour. You can also participate by phone or online. At the end of each course, you get a certificate of completion.
When it comes time to file, it is advised to seek the services of an attorney or organization to help you better understand the laws. How much you earn is going to be essential. If you make a certain income, you may not be allowed to file for chapter 7 bankruptcy.
Most debtors opt for Chapter 7 bankruptcy because it is faster and relieves them from paying debts. However, under Chapter 7, courts have a right to sell certain assets to pay your creditors. If you truly want to pay creditors and keep assets, Chapter 13 bankruptcy is ideal. The courts work out a reasonable payment plan to pay debts within three to five years and the creditors must accept it. You’ll need to meet certain requirements to file for either type of bankruptcy.
If you are in debt and need a fresh start, the Law Offices of Robert M. Geller, P.A. will help you file for bankruptcy and protect your property.
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