CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Tampa Bankruptcy Timeline

The prospect of filing for bankruptcy in the Tampa area can be intimidating, but many people feel better when they know what to expect. Having an idea of the order of events and the approximate timeframe in which certain things must occur can put your mind at ease and help you feel more confident about your decision to pursue bankruptcy as a solution to your financial woes.

The exact timing of the events that occur with a bankruptcy varies between Chapter 7 and Chapter 13 cases. The most important thing to know, regardless of which type of bankruptcy you choose, is that there are deadlines associated with filing – and missing those deadlines can result in the denial of your bankruptcy request. This is one of the many reasons it is so important to work with an experienced bankruptcy professional. He or she is familiar with the timing and deadlines in the process, and will ensure you meet all of your obligations throughout the process.

Pre-Requirement for Filing

Prior to officially filing, you will likely be required to attend credit counseling from a certified program. This is a requirement to file and you will be unable to move forward in the process until you have completed the counseling. You are also required to establish you are a legal resident of the state in which you plan to file before you will be permitted to file.

Once your pre-requirements are complete, you are eligible to file a bankruptcy petition with the court. This officially launches the bankruptcy process. Shortly after, usually within just a couple of weeks from your petition date, you are required to provide the court with all information specific to your case. This includes assets, liabilities, income, etc. In most cases, your bankruptcy attorney will be working on organizing this information in the days leading up to filing your petition, so it will be ready to go when the time comes.

Now is when the differences between Chapter 7 and Chapter 13 comes into play. For instance, those filing Chapter 7 are required to file a Statement of Intention identifying any and all debts within 30 days of their petition. During the same time period, Chapter 13 filers must submit a repayment plan and make the first scheduled payment.

Meeting of Creditors

Approximately six weeks after your petition is filed, a Meeting of Creditors will be held. This gives your creditors time to review your case and make any arguments they have against your claims. For more information about the sometimes dreaded Meeting of Creditors.

Once the Meeting of Creditors is complete and your plans are settled, your bankruptcy is essentially considered in progress. There might be a few additional issues that arise, such as a proof of claims from government agencies (this must be done within 180 days of your petition being filed), such as the IRS.

All bankruptcy cases are different, but this standard timeline helps you understand the time sensitive nature of filing for bankruptcy. If you are considering bankruptcy or you have questions about when you need to take action, we can help. Contact the Law Offices of Robert M. Geller at 813.254.5696 to discuss your situation.

The prospect of filing for bankruptcy can be intimidating, but many people feel better when they know what to expect. Having an idea of the order of events and the approximate timeframe in which certain things must occur can put your mind at ease and help you feel more confident about your decision to pursue bankruptcy as a solution to your financial woes.

The exact timing of the events that occur with a bankruptcy varies between Chapter 7 and Chapter 13 cases. The most important thing to know, regardless of which type of bankruptcy you choose, is that there are deadlines associated with filing – and missing those deadlines can result in the denial of your bankruptcy request. This is one of the many reasons it is so important to work with an experienced bankruptcy professional. He or she is familiar with the timing and deadlines in the process, and will ensure you meet all of your obligations throughout the process.

Pre-Requirement for Filing

Prior to officially filing, you will likely be required to attend credit counseling from a certified program. This is a requirement to file and you will be unable to move forward in the process until you have completed the counseling. You are also required to establish you are a legal resident of the state in which you plan to file before you will be permitted to file.

Once your pre-requirements are complete, you are eligible to file a bankruptcy petition with the court. This officially launches the bankruptcy process. Shortly after, usually within just a couple of weeks from your petition date, you are required to provide the court with all information specific to your case. This includes assets, liabilities, income, etc. In most cases, your bankruptcy attorney will be working on organizing this information in the days leading up to filing your petition, so it will be ready to go when the time comes.

Now is when the differences between Chapter 7 and Chapter 13 comes into play. For instance, those filing Chapter 7 are required to file a Statement of Intention identifying any and all debts within 30 days of their petition. During the same time period, Chapter 13 filers must submit a repayment plan and make the first scheduled payment.

Meeting of Creditors

Approximately six weeks after your petition is filed, a Meeting of Creditors will be held. This gives your creditors time to review your case and make any arguments they have against your claims. For more information about the sometimes dreaded Meeting of Creditors, <a href = “http://bankruptcy.about.com/od/Bankruptcy-Basics/a/The-Meeting-Of-Creditors.htm”>check out this description from About.com.</a>

Once the Meeting of Creditors is complete and your plans are settled, your bankruptcy is essentially considered in progress. There might be a few additional issues that arise, such as a proof of claims from government agencies (this must be done within 180 days of your petition being filed), such as the IRS.

All bankruptcy cases are different, but this standard timeline helps you understand the time sensitive nature of filing for bankruptcy. If you are considering bankruptcy or you have questions about when you need to take action, we can help. Contact the Law Offices of Robert M. Geller at 813.254.5696 to discuss your situation.

Archive

Tampa Bankruptcy Law Blog

Should You Pay Back What You Owe Loved Ones Before You File for Bankruptcy?

Florida Bankruptcy Laws It’s common for people who are struggling financially to turn to their friends and family for help....
Read More

Bankruptcy and Family Law: Does Filing Affect the Child Support I Pay or Receive?

Bankruptcy and Family Law If you’re like many people, the well-being of your children is your most important priority. Struggling...
Read More

5 Tips for Overcoming the Emotional Toll of Bankruptcy

Florida Bankruptcy Attorney Getting through the bankruptcy process is about more than just improving your finances. Working with a Florida...
Read More

Bankruptcy and Divorce: The Far-from-Perfect Storm

Bankruptcy and Family Law Bankruptcy and divorce separately are two of the most stressful events you can experience in your...
Read More

Does the Pandemic Have You in a Holding Pattern? Here’s How to Know When to File for COVID Bankruptcy

COVID Bankruptcy If you’re struggling to make ends meet and you feel as if your life is on hold because...
Read More

Will Your Favorite Retailer File for Business Bankruptcy in 2021?

Business Bankruptcy 2020 was a tumultuous year and many of the financial challenges caused by the pandemic are expected to...
Read More

Boosted and Extended Benefits Keeping Unemployed Afloat – But For How Long?

Unemployment Benefits Were you one of the millions of people who ended up out of a job and using unemployment...
Read More

Should Bankruptcy Laws Be Adjusted Because of COVID-19?

Bankruptcy Laws The COVID-19 pandemic brought a lot of changes throughout 2020 and many are expected to continue into 2021...
Read More

Will 2021 Bring Student Loan Forgiveness and Will It Mean a Decrease in Student Loan Debt-Related Bankruptcies?

Student Loan Debt Are you one of the millions of Americans who struggle to make ends meet every month due...
Read More

Business Bankruptcy Trends Ahead for 2021

Business Bankruptcy Trends It should come as no surprise to anyone following the economic impacts of the COVID-19 pandemic that...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions