Consumer Bankruptcy Lawyers in Palm Harbor, Florida

Find the right Consumer Bankruptcy attorney in Palm Harbor, FL

Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is normally considered as an option of last resort, because while it can stave off financial disaster, it has some considerable long-term consequences warranting careful consideration of the costs and benefits. Being a product of federal law, bankruptcy will go through federal courts. Accordingly, the procedure for filing for bankruptcy in Florida is basically the same as the procedure anywhere else in the United States. However, individual courts in Palm Harbor, Florida will have particular rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Palm Harbor, Florida

In Palm Harbor, Florida, there are 2 commonly-used forms of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 involves liquidation of some of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the non-exempt property is sold, the rest of the dischargeable debt is eliminated. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Palm Harbor, Florida is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Palm Harbor, Florida

Chapter 13 Bankruptcy in Palm Harbor, Florida differs substantially from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your case. Chapter 13 does not absolve debt, but restructures it instead. Normally, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is normally manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in Palm Harbor, Florida

Which Bankruptcy type to file under depends heavily on the facts of each particular case. If you have a steady stream of income (enough to make a payment plan manageable), and a large amount of non-exempt property that you don't want to part with, Chapter 13 may be best for you. If you don't have a steady income or large amounts of non-exempt property, you may be better off filing for Chapter 7.

In any case, you should talk with a local Palm Harbor, Florida bankruptcy attorney. Your attorney can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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Life in Palm Harbor

Palm Harbor, Florida is an unincorporated community in Pinellas County. It has a population of about 60,000 people, as of the 2000 Census. It is located on the Gulf of Mexico.

Palm Harbor, Florida is mostly a residential community, but it has several commercial districts, where most of the businesses are located. Each one of these districts has its own unique character. These business districts are fairly pedestrian-friendly, and boast several unique, locally-owned restaurants and retailers, as well as a handful of historic buildings. Palm Harbor is also known for its hilly geography, which is fairly uncommon in relatively flat Florida.

Palm Harbor is a popular tourist destination, owing to its proximity to the Gulf of Mexico. Its warm, subtropical climate makes it popular among residents who prefer that kind of weather, particularly retirees.

If you live in Palm Harbor, Florida, and find yourself in need of legal advice or services, chances are you'll be able to find what you need in the area. Palm Harbor, Florida lawyers practice in a wide variety of legal areas. If you need legal help, a Palm Harbor, Florida attorney is the person to call.

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