Help From St. Petersburg Bankruptcy Lawyers

It becomes important to contact St. Petersburg bankruptcy lawyers when you are thinking about filing for personal bankruptcy in the state of Florida. St. Petersburg bankruptcy lawyers know that the state of Florida allows no federal bankruptcy exemptions but supplementary ones and which state bankruptcy exemptions to apply toward your bankruptcy case. Furthermore, St. Petersburg bankruptcy lawyers helps you decide what kind of bankruptcy you should be filing for.

Since this is personal bankruptcy, you don't need to concern yourself with chapter 11 bankruptcy and chapter 12 bankruptcy. They apply mostly to farmers and businesses. You need to consider chapter 7 personal bankruptcy and chapter 13 personal bankruptcy.

Sometimes called straight bankruptcy or liquidation, chapter 7 personal bankruptcy sees the court appointing a trustee to help you liquidate your nonexempt personal property. Once it has been converted to cash, you use that to help pay back your creditors. You generally receive a discharge within a few months.

Chapter 13 personal bankruptcy sees a reorganization of your debts into a three to five year repayment plan. While this takes years to see you getting a discharge, you get to keep most of your nonexempt property. An additional benefit is that chapter 13 stays on a credit report for only 7 years. Chapter 7 stays on a credit report for 10 years.

Additionally, chapter 7 costs more. Filing chapter 7 personal bankruptcy costs $299. Filing chapter 13 personal bankruptcy costs $274. Lawyers' fees will depend upon the lawyers themselves and the particulars of your bankruptcy case.

At any point, so long as you are eligible for both and have not already switched over once already, you can switch from chapter 7 to chapter 13 or from chapter 13 to chapter 7. Which you should file or or if you should switch depends on your bankruptcy case and what it requires.



For experienced, knowledgeable and trustworthy bankruptcy assistance, contact the attorneys from www.legalhelpers.com. Call toll-free 800-260-1402 today for your initial free consultation or come into one of their 100 offices across the country.