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Bankruptcy FAQ's

Florida Bankruptcy Information

If you are struggling to meet your financial obligations, you may have considered Bankruptcy, but have many unanswered questions. We understand the stress and anxiety that can accompany financial problems. At the Debt Relief Law Offices Of Tampa Bay, we will work closely with you, helping you understand your options, so that you can make good decisions. 
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Personal Bankruptcy FAQ

  • Is your home protected in Bankruptcy?

    In Florida, your home is protected as your homestead under Florida law.  If you have a mortgage, you must keep making your mortgage payments, your home insurance and taxes, as well as your HOA, otherwise, you may face a foreclosure.  If you are a renter, you must keep making your rent payments if you don’t want to be evicted.

  • What kind of debts can I discharge in bankruptcy?

    Commonly, one can discharge either secured or unsecured debt.  You can discharge your credit card debt, medical, past rent, past bills, unsecured loans.  If your debt is secured such as a car loan or a mortgage on your home, you may discharge that that if you don’t want to keep either the car or the home.  However, if you want to keep your car or your home, you must keep up your payments.

  • Are there tax consequences to filing bankruptcy?

    You will not suffer a tax consequences if your file a bankruptcy, unlike the situation where your creditor forgives your debt.  In that case you may experience “phantom income” instead of the forgiven debt, and you may have to pay tax on the phantom income.

  • Can a bankruptcy filing help me get back my suspended license?

    If your driver’s license was suspended for not paying certain debts or obligations, filing the bankruptcy may get your license re-instated.

  • Can creditors sue me after I file for bankruptcy?

  • Can I be forced to change between chapters in a bankruptcy case?

  • Can I convert from a Chapter 13 to 7 bankruptcy?

  • Can I convert from a Chapter 7 to 13 bankruptcy?

  • Can I discharge medical bills in bankruptcy?

  • Can I discharge my student loans in bankruptcy?

  • Can I file bankruptcy only on my personal or just on my business debts?

  • Can I file for bankruptcy if I haven’t paid taxes for the last few years?

  • Can I file personal bankruptcy and not have it affect my business?

  • Can I get credit after bankruptcy?

  • Can I lose my IRA, 401k, or other retirement account in bankruptcy?

    You will keep your IRA and 401K, in fact, if your retirement account was set up according to the rules that are dictated by the IRS, then your retirement account is safe from creditors.   However, you may lose the money in your savings or money market accounts, depending on the amount of money and your available exemptions.

  • Can I not be approved for bankruptcy?

  • Can I put my assets in someone else’s name before filing for bankruptcy?

  • Can I save my home and other assets by filing for bankruptcy under Chapter 13?

  • Can I use Chapter 7 bankruptcy to get rid of all my debts?

  • Can my boss fire me for filing bankruptcy?

  • 1Are child support arrears or alimony payments dischargeable in bankruptcy?

    No they are not. Support payments are not dischargeable in bankruptcy.  Only family court can modify support payments.

  • Can my landlord evict me from my apartment after I file for bankruptcy?

  • Can my utility providers stop service if I file bankruptcy?

  • Do bankruptcy laws vary from state to state?

  • Do I have to list all my debts in a bankruptcy filing?

  • Do I have to pay my bills during a Chapter 7 or 13 bankruptcy?

  • Does a previous bankruptcy prevent me from filing bankruptcy again?

  • Can I file for bankruptcy without my spouse?

    Yes.  Married individual may file individually.  That discharges only the debt of the person who is filing.  It does not discharge the debt of the spouse who did not file.

  • Does the IRS have to agree to my Chapter 13 plan?

  • How difficult is it to file for Chapter 7 under the new bankruptcy laws?

  • How do bankruptcy attorneys charge for their services?

  • How do I choose a bankruptcy attorney?

  • How do I determine if should file bankruptcy?

  • How do I know which bankruptcy chapter to file?

  • How do I prepare my bankruptcy payment plan?

  • How do I qualify for bankruptcy?

  • How does a Chapter 13 bankruptcy case begin?

  • How does a Chapter 7 bankruptcy case begin?

  • How long does the bankruptcy process typically take?

  • How long will a bankruptcy filing remain on my credit record?

  • How much will the whole bankruptcy process cost?

  • How often, if ever, will I have to go to court during bankruptcy proceedings?

  • How To Handle Debt With Bankruptcy

  • I declared bankruptcy before. When can I file again?

  • I do not have much money. Why should I hire a bankruptcy attorney instead of filing myself?

  • If I am having problems paying my bills, what is the first thing I should do?

  • If I declare bankruptcy, can I lose my car?

  • If I declare bankruptcy, can I lose my house?

  • If I file for bankruptcy, can I keep my credit cards?

  • If I file for bankruptcy, does it mean my old bad debts are erased from my credit report?

  • In bankruptcy, what is the trustee?

  • Is the debt discharged in bankruptcy considered income that has to be reported on my income tax return?

  • Is the IRS affected by my bankruptcy filing? Do I still have to pay back taxes and new taxes?

  • Mortgage and Credit Card Garnishing

  • Mortgage Modifications for Struggling Homeowners

  • Right now, I cannot pay my debts. Besides bankruptcy, do I have any options?

  • Strip Your Second Mortgage When Filing for Bankruptcy

  • Student Loans, Old Debts and A New Marriage

  • The Passing Stigma of Filing for Bankruptcy

  • What are exempt assets in a bankruptcy proceeding?

  • What are nonexempt assets in a bankruptcy proceeding?

  • What are the advantages of filing for bankruptcy?

  • What are the alternatives to filing personal bankruptcy?

  • What are the major events in the bankruptcy process and when will the bankruptcy be over?

  • What are the most common mistakes I can make when filing for bankruptcy?

  • What are the most common reasons for Chapter 13 bankruptcy?

  • What are the most common reasons for Chapter 7 bankruptcy?

  • What assets are protected in bankruptcy?

  • What can I do if my tenant filed bankruptcy?

  • What debts are erased by a bankruptcy, and what debts cannot be erased by bankruptcy?

  • What do I have to disclose about my finances in a bankruptcy filing?

  • What do I have to do to file bankruptcy?

  • What do I need to provide to my attorney in a bankruptcy case?

  • What does a Chapter 13 bankruptcy involve?

  • What does Chapter 7 bankruptcy involve?

  • What does it cost to file bankruptcy?

  • What happens after the payment plan is approved?

  • What happens if my employer filed for bankruptcy and owes me money?

  • What happens to me personally if my corporation files bankruptcy?

  • What happens to my corporation if I file personal bankruptcy?

  • What happens to tax liens that survive the Chapter 7 bankruptcy discharge?

  • What if a collection agency calls me and says that my credit card debt cannot be discharged in bankruptcy?

  • What if I cannot afford a bankruptcy attorney?

  • What if I cannot make the payments on my Chapter 13 bankruptcy plan?

  • What if I cannot make the payments required under my bankruptcy court ordered plan?

  • What if I cannot pay non-dischargeable tax debt even over a five-year Chapter 13 bankruptcy plan?

  • What if I forget to list a liability in my bankruptcy filing?

  • What if I keep getting bills after I file bankruptcy?

  • What if I want to pay some of my creditors?

  • What if the court does not approve my Chapter 13 bankruptcy filing?

  • What if the court does not approve my Chapter 7 bankruptcy?

  • What is a 341 hearing?

  • What is bankruptcy?

  • What is Chapter 20?

  • What is debt consolidation?

  • What is the means test in bankruptcy?

  • What is the next step in bankruptcy after credit counseling?

  • What is the proposed payment plan?

  • What is the role of the Chapter 13 trustee in a bankruptcy?

  • What is the trustee?

  • What should I do if I know I am going to miss a payment?

  • What should I list as my liabilities in a Chapter 7 bankruptcy?

  • What steps do I need to take before filing for bankruptcy?

  • What will happen to my bills after I declare bankruptcy?

  • When should I file tax returns if I am going to file bankruptcy?

  • When to Call A Bankruptcy Attorney When Selling Your Home

  • When will I be discharged from bankruptcy?

  • Who can use Chapter 13?

  • Who can use Chapter 7?

  • Who makes the choice regarding Chapter 13 in a bankruptcy?

  • Who makes the choice regarding Chapter 7?

  • Who notifies the creditors and bill collectors that I declared bankruptcy?

  • Who will know about my bankruptcy?

  • Will bankruptcy affect my spouse’s credit?

  • Will bankruptcy remove a lien?

  • Will bankruptcy stop a judgment?

  • Will bankruptcy stop wage garnishments?

  • Will I have to give up all my assets?

  • Will I lose my assets if I file for Chapter 7?

  • Will my co-signers on my liabilities, like a mortgage, be protected if declare bankruptcy?

  • Will my creditors stop harassing me when I file for bankruptcy?

  • Is property settlement following a divorce dischargeable?

    Property Settlement award are dischargeable in chapter 13 only, as long as it is not a result of fraud.

Contact Our Office

We provide a FREE initial consultation. Contact our office by e-mail Ziona@debtrelieftampabay.com or contact one of our 4 offices throughout Tampa Bay in New Port Richey, 727-849-DEBT (3328), Spring Hill, 352-678-2265, Tampa, 813-765-DEBT (3328) or Lakeland, 863-680-DEBT(3328) for a confidential meeting.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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