If you’re considering filing bankruptcy in Tampa, FL, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

Filing for bankruptcy is a decision that comes with its own set of considerations. For Tampa, Florida residents considering this option, the question is: “Am I qualified for bankruptcy?” The answer is primarily determined by the type of bankruptcy you’re considering and your individual financial situation.

There are different types of bankruptcy chapters: Chapter 7, Chapter 11, and Chapter 13, among others. The eligibility criteria for each vary. For instance, Chapter 7 requires the debtor to pass a “means test,” which evaluates your financial ability to repay debts. If your income is below the median for a household of your size in Florida, you might automatically qualify. However, if it’s above, additional calculations regarding your income and allowable expenses are required.

Chapter 11, commonly used by businesses and some individual debtors, doesn’t have an income-related qualification. Instead, there’s a limit on the amount of debt one can have. As for Chapter 13, it’s designed for individuals with regular income who can repay a portion of their debts over time. Here, too, there are debt limits.

In all situations, mandatory credit counseling from an approved agency is required before filing. Remember, even if you technically qualify for a particular chapter, it doesn’t mean it’s the best fit for your circumstances.

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Do You Need a Lawyer to File For Bankruptcy in Tampa, FL?

While it’s not legally required to have an attorney when filing for bankruptcy, it’s highly recommended. Bankruptcy laws are complex, and navigating them without legal expertise can be challenging.

A lawyer can guide you on which chapter is most appropriate for your situation. They can also ensure that all required paperwork is filed correctly and on time. Making errors or omissions can result in your case being dismissed or in assets being unnecessarily liquidated.

Furthermore, lawyers are invaluable in dealing with creditors. Once you hire an attorney, creditors are typically required to go through the lawyer rather than contacting you directly. This can reduce stress and ensure that your rights are upheld.

Given these considerations, while you can technically file pro se (on your own), having an attorney increases the likelihood of a smoother, more successful bankruptcy process.

Cost to File Chapter 7 Bankruptcy in Tampa, FL

The costs associated with filing Chapter 7 bankruptcy in Tampa comprise two primary components: court filing fees and attorney’s fees.

As of my last update, the court filing fee for a Chapter 7 bankruptcy is around $365, though fees can change. Additionally, mandatory credit counseling and debtor education courses might cost between $25 and $60 each.

Attorney’s fees, on the other hand, can vary widely. Some charge flat fees, while others might charge hourly rates. On average, for Tampa, you might expect to pay between $1,100 and $2,700 for a Chapter 7 bankruptcy attorney. The complexity of your case and the reputation of the lawyer can influence this fee.

Cost to File Chapter 11 Bankruptcy in Tampa, FL

Chapter 11 bankruptcy, often utilized by businesses, is generally more complex and hence more expensive. The court filing fee for Chapter 11 is notably higher than for Chapter 7, standing around $1,817.

Given the intricate nature of Chapter 11, attorney’s fees can be substantial. Depending on the case’s complexity, legal fees can range from several thousand dollars for simpler cases to tens or hundreds of thousands for more involved situations.

Cost to File Chapter 13 Bankruptcy in Tampa, FL

Chapter 13 bankruptcy allows individuals to reorganize their debts and repay them over time. The court filing fee for this chapter is approximately $370.

Attorney’s fees for Chapter 13 in Tampa can vary but are generally higher than Chapter 7 due to the prolonged involvement of the lawyer over the 3-5 year repayment plan period. You might expect to pay between $3,200 and $6,500, though some attorneys might charge more or less based on the case’s intricacy.

In conclusion, if you’re considering bankruptcy in Tampa, FL, it’s essential to understand the qualifications and costs associated. Consulting with a seasoned bankruptcy attorney can offer clarity and guidance, ensuring that you make informed decisions.

Reliable Bankruptcy Attorneys in Tampa, FL

Below is a list of reputable bankruptcy attorneys in Tampa, FL. They can help you with both personal and business bankruptcy information.

Gina Rosato Law Firm, P.A.

4124 W Linebaugh Ave, Tampa, FL 33624, United States

Law Offices of Robert M. Geller, P.A.

807 W Azeele St, Tampa, FL 33606, United States

Zooberg Law Firm, P.A.

15310 Amberly Dr suite 250-4, Tampa, FL 33647, United States

Arkovich Law

1520 W Cleveland St, Tampa, FL 33606, United States

Tampa, FL Zip Codes We Proudly Serve:

33602, 33603, 33604, 33605, 33606, 33607, 33609, 33610, 33611, 33612, 33613, 33614, 33615, 33616, 33617, 33618, 33619, 33620, 33621, 33629, 33634

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