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

Video Testimonials

Tampa Bankruptcy Law Blog

5 Common Budgeting Mistakes Newlyweds Make and How to Avoid Them

Budgeting mistakes are common, especially when you’re young. Not all newlyweds are young adults, but many first-time marriages do involve...
Read More

When Should Married Couples File for Bankruptcy Together?

There's no easy answer to the question of timing when it comes to bankruptcy. In some cases, it may make...
Read More

Can Your Spouses Debt Force You Into Bankruptcy?

If you're married and your spouse has a lot of debt, you may be wondering if that debt can force...
Read More

Do You Need a Bankruptcy Attorney If You’re Divorcing with Financial Problems?

Divorce and bankruptcies are more common than many people realize. Financial problems make a stressful transition even more difficult. If...
Read More

Can You File Bankruptcy without Your Spouse?

Filing for bankruptcy is a decision that should not be taken lightly. It can affect your financial life and the...
Read More

How Seniors Can Avoid Bankruptcy

Seniors are at a high risk of bankruptcy, but there are ways to avoid it. What do you need to...
Read More

What Happens If I Own Too Many Assets to File for Chapter 7?

Does hiding assets in bankruptcy protect them from your creditors? If you own too many assets to qualify for Chapter...
Read More

How to Find the Best Lawyer for Filing for Bankruptcy after Retirement

Many retirees decide to file for bankruptcy as a way to get a fresh start. But finding the right lawyer...
Read More

Does Declaring Bankruptcy Affect My Retirement Savings?

When you're struggling with debt, the thought of bankruptcy might cross your mind. But what would that mean for your...
Read More

Is a Reverse Mortgage Right for Me?

Reverse mortgages in Florida are loans that allow homeowners 62 and older to borrow against the equity in their homes....
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

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