Things to Know Before Filing For Bankruptcy In Tampa

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There are many different reasons as to why a person would want to file for bankruptcy. They need it to get out from under a lot of debt, or maybe they think that they have gotten into too much trouble and can no longer pay their bills. No matter what the reason is, there is one thing for sure and that is that it is something that needs to be done. If it was not already done, now is definitely the time.

If you are wondering what chapter 13 means, then you need to know that chapter 13 bankruptcy works like this. It is not actually a chapter in and of itself, but it is filed under another section of the bankruptcy code. It is filed under either the name of the individual filing the suit or the company filing with the federal government. In order to file for chapter 13 bankruptcy, you will need to meet the following criteria. First, you must be at least 18 years of age.

Next, you will need to have been continuously employed throughout most of the year. This makes a big difference because it shortens the time that chapter 13 has to go through before it can go forward. This is important because with the shorter period of time, it could end up taking more than a year to finalize things, whereas if you are filing under a different part of the code it could finish much quicker.

Finally, you need to have filed at least two chapter 13 bankruptcies in the past. These are the only cases that can file under this part of the code. Two bankruptcies mean that you have two separate papers going into the bankruptcy court.

One of the papers will be for your discharge. This states that you have officially discharged your debts. This does not have to be a discharge in full. It just has to be a complete conclusion of your debts. Once the discharge is approved, your chapter 13 is officially complete.

Knowing how old do you need to be to file for bankruptcy is important because it makes it so that you do not have to wait too long in order to get the help you need from a good bankruptcy attorney. This is especially critical if you have many debts. If you cannot file by yourself, then you should definitely hire a bankruptcy lawyer who can do the paperwork for you. He or she will be able to tell you when you do need to file and why. The sooner you get started, the better off you are going to be!

If you have any query related to filing for bankruptcy, you can get a free consultation from the experienced lawyers at Galewski Law Group. Call us at (813) 222-8210.

Source File: https://galewskisite.wordpress.com/2021/05/18/things-to-know-before-filing-for-bankruptcy-in-tampa/




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