Is Bankruptcy the Solution to Your Debt Crisis?
Bankruptcy is a legal process that allows a debtor who owes more money than he or she can repay to either have the debt forgiven or to repay the debt over time. It applies to individuals and couples and it applies to businesses, partnerships and corporations. Bankruptcy provides immediate relief from collection efforts and legal action by creditors, including foreclosure, repossession and garnishing of wages.
People wind up in bankruptcy for many reasons — job loss, health problems, a business downturn or an over-reliance on credit. The law firm of Stamatakis + Thalji + Bonanno provides a free consultation to explore bankruptcy as well as the alternatives. Contact us today to find out how we can help.
Tampa and Clearwater Bankruptcy Attorneys
Based in Tampa, Stamatakis + Thalji + Bonanno handles consumer bankruptcy and small business bankruptcy in Hillsborough, Pinellas and Pasco counties and throughout the State of Florida. Our law practice provides a wide array of solutions for mortgages, unsecured debts, IRS tax problems and consumer rights abuses.
Our experienced lawyers have handled thousands of bankruptcies and foreclosures. We can walk you through your options:
- Chapter 7 bankruptcy, which discharges unsecured debts free and clear
- Chapter 13 bankruptcy, a repayment plan in which you pay a portion of debts over three to five years
- Chapter 11 bankruptcy, which offers business owners a reprieve from creditors to reorganize and negotiate a repayment plan
We can determine if you qualify for Chapter 7, and if so, what debts you can discharge and what property you can keep. You may need to file under Chapter 13 if your income exceeds the Chapter 7 criteria, if you have mortgage arrears or if you have nonexempt property not protected in Chapter 7.
We also explore non-bankruptcy foreclosure defense solutions and alternative debt relief such as debt settlement and IRS tax settlements.
The Benefits of Bankruptcy
In many cases, bankruptcy is the only option left to save your home from foreclosure or get out from under massive debt. Bankruptcy can also stop creditor actions such as repossession, garnishment or levies. There are many collateral benefits of bankruptcy such as opportunities to "strip" a second mortgage or reduced your car loan and the automatic stay which ends the creditor harassment.
Bankruptcy is not a magical solution to your financial problems. It does not eliminate certain debts such as student loans, recent taxes or child support obligations. However, bankruptcy offers unique protections and a level of debt relief that are not available or guaranteed through the alternatives. You owe it to yourself to get the facts and explore your options.
Contact Experienced Tampa Personal Bankruptcy Attorneys
President Obama and the U.S. Congress have designated our offices a Federal Debt Relief Agency because we help people file for bankruptcy. See our frequently asked questions and bankruptcy timeline pages for more background about the pros, cons and applications of bankruptcy. To discuss your specific circumstances and all the ways Stamatakis + Thalji + Bonanno can help, call us at 866-479-6946 or contact us online.
