Life After Bankruptcy

Tampa Bay Bankruptcy and Debt Relief Attorney

When are debts discharged?

I read an article that said 78 percent of NFL players are broke within two years of retirement. That's staggering. Unfortunately, being broke is a common occurrence in today's economy. Many in Tampa Bay are struggling.

Sometimes people just can't make it work anymore. That's why our laws allow for bankruptcy. Whether you're a former NFL player or a small mom-and-pop shop, bankruptcy is a process for either erasing or restructuring your debt. Bankruptcy can give you a fresh start. There is life after a bankruptcy.

Life After Bankruptcy

Different Types of Bankruptcy

For individuals, there are two types of bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy is when a person erases the entirety of his dischargeable debt and he starts over. Some debts such as student loans or debt procured by fraud are not dischargeable. Chapter 13 bankruptcy is where a person's debt is restructured so that he can make affordable payments. Often, the overall amount of the debt is lessened. Chapter 11 bankruptcy is for restructuring a business's debt. In 2020, Subchapter V, of Chapter 11 bankruptcy was created to help small businesses get their financial life back. There is even a chapter specifically for farm owners, Chapter 12.

There can be negative consequences resulting from bankruptcy that re best discussed with a bankruptcy lawyer. However, learn about the myths so you can better understand if bankruptcy is right for you.

Get a Fresh Start

If you're in a position where your bills are going unpaid, creditors keep calling you for money, and you're about to lose important assets, you should schedule a free bankruptcy consultation to discuss filing personal bankruptcy. Bankruptcy may be the option you have been looking for.

How to Select a Bankruptcy Attorney Near Me?

At the Coleman Law Group, you will speak with an affordable bankruptcy attorney who is knowledgeable about Bankruptcy and the rules of the Federal Court. We are experienced in guiding you through this complex and difficult process and give you bankruptcy advice specific to your situation. We will explain in detail the steps to filing bankruptcy and any alternative to bankruptcy.

Don't live with the weight of crushing debt. To find out if bankruptcy is right for you, contact an experienced Chapter 13 attorney in the Tampa Bay. Call the Coleman Law Group at 727.214.0400 for a free bankruptcy consultation.

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