Experienced Bankruptcy Lawyer in Tampa
Representing clients in Chapter 7, Chapter 11 and Chapter 13
Costly medical bills. A lost job. Unexpected expenses. A business deal gone awry. Any of these issues can leave you behind on your bills and feeling like there's no way to break even. If you are considering bankruptcy as a solution, speaking with an experienced bankruptcy attorney can help you determine the right option.
Which chapter is right for you?
At the Tampa law office of Perry G. Gruman, P.A., we help clients file for Chapter 7, Chapter 11 and Chapter 13 bankruptcy. We can assist you in matters related to:
Chapter 7 — Known to many as straight bankruptcy, Chapter 7 is a basic liquidation process for individuals and businesses. It allows filers to discharge most debts and is most effective in eliminating unsecured debt, including:
- Credit card debt
- Deficiency balances due to auto repossession
- Medical bills
Chapter 7 is an efficient way to clear your debts, but those considering Chapter 7 must pass a means test that proves their average monthly income falls within certain guidelines. If you are approved to file for Chapter 7, a bankruptcy trustee converts your non-exempt property into cash and then distributes it to your creditors. It usually takes approximately four months to receive a discharge of all eligible debts.
Chapter 11 — This chapter is mainly used by business debtors, but is occasionally used by individuals who have substantial debts and assets. Chapter 11 allows businesses to continue operating while reorganizing and paying off their debt.
Chapter 13 — Under Chapter 13 bankruptcy, your various debts are consolidated into one payment you make according to a three- to five-year payment plan. The amount of each payment and the length of the payment plan is based on your income rather than your assets. Each payment is made to a Chapter 13 trustee who then disburses payments to your individual creditors.
Chapter 13 is an excellent option if you have non-exempt property you would like to keep and a reliable income that allows you to pay your daily expenses while paying off your debt. Filing for Chapter 13 stops foreclosure actions and can enable you to refinance any existing auto loans. If you think Chapter 13 may be right for you, we can help.
Contact us today
If you or a loved one is in need of legal assistance with a matter involving Chapter 7, Chapter 11 or Chapter 13 bankruptcy, we can help. Call our office at 813-870-1614 or contact us online to schedule a consultation. We look forward to speaking with you. Se habla español.