As you go through life, it can be easy to lose control of your finances. You incur debts from illnesses and injuries that you cannot pay. You also lack the income to satisfy debts that you accrue over time.
Rather than face threats like garnishments or asset seizures, you can get a fresh financial start by filing for bankruptcy. When you work with one of the local bankruptcy law firms St. Petersburg FL, you can expect to receive important services to help you with your debts.
Advice about Case Filing
When you consult with any of the bankruptcy law firms St. Petersburg FL, you’ll get advice about what kind of case to file. The type of bankruptcy that you file will largely depend on your particular financial situation. You generally have the option of filing a total liquidation of most or all of your debts or you can have your debts organized into a lump sum that you can pay on each month.
Filing a total liquidation, which is also known as a Chapter 7 bankruptcy, requires you to pass a means test to determine if your income is low enough to qualify for having your debts discharged. If your income is too high or if the amount of your debts is low enough, you could benefit from taking out a Chapter 13 or reorganization case. This means you’ll make a payment each month for three to five years toward your debt and unsecured debts that have not been paid in full at the end of this period are discharged.
You can find out more about filing for one of the available options for bankruptcy online. Contact the Law Offices of Robert M. Geller, P.A. for a consultation or go to https://www.attorneyfortampabay.com/ today.