when to file for bankruptcy tampa fl

Consult with a Tampa bankruptcy attorney!

Almost as important as the decision of whether to file for bankruptcy is the decision of when to file. The amount of debt you have, any additional income or debt you may be expecting to accrue, and the type of financial obligations you face all play a part into when you should file for bankruptcy.

My name is Dion R. Hancock, I have devoted my practice to helping individuals find effective means to alleviate their financial crises. As an experienced Tampa bankruptcy attorney, I have the insight you need to decipher if, when, and what type of bankruptcy would be best for you. If you are wondering what your next move should be for confronting your overwhelming debt, you should meet with me so we can discuss your situation. Together, you and I can decide what avenues you should take to get back on your road to financial freedom.

Signs You May Need to Declare Bankruptcy

The laws governing bankruptcy are designed to provide assistance and protection to individuals encountering substantial debt. Depending on the method you choose, filing for bankruptcy can erase or restructure your debt into a manageable amount. Either Chapter 7, Chapter 11 or Chapter 13 bankruptcy can provide an effective legal means to address your debt and grant you a financial fresh start.

You may want to consider filing for bankruptcy if you are experiencing one or more of the following:

  • Your wages are being garnished or your bank account is being frozen by a creditor.
  • You are receiving threats of vehicle repossession, or your vehicle has already been repossessed.
  • You are more than 30 days behind on two or more bills
  • You are unable to pay large medical bills that are not covered by health insurance
  • Your debt total remains the same (or is increasing) despite you making timely payments
  • You home has been in danger or is in danger of foreclosure
  • You possess a large amount of unsecured debts, such as medical bills, credit card bills, and debt from broken leases

Properly Timing Your Bankruptcy

Once you have made the decision to declare bankruptcy, the timing of your petition can be equally as important. At Dion R. Hancock, P.A., my dedicated staff is well-versed in all aspects of the bankruptcy process, including when would be the best time to file.

As part of my comprehensive service, I will do the heavy lifting for you and complete all your necessary paperwork. I will then file your paperwork according to the rules and regulations of the bankruptcy statutes to protect you and your finances in the best way possible.

Once your financial situation is thoroughly analyzed, I may determine that it would be most beneficial to delay filing for a month or two. Reasons for this can include:

  • You are expecting a significant tax refund.
  • You anticipate that your monthly income is about to drop.
  • Your depreciable assets are near the exemptible amount.
  • You anticipate a new influx of debt, such as anticipated medical bills.
  • You want to modify your mortgage.

Please take note! The correct timing of your bankruptcy filing can best be determined by a skilled and experienced bankruptcy attorney. An incorrect decision to delay filing, or even filing too early, can place your personal property at increased risk. If you are unsure on when to declare bankruptcy, call my firm today!

Compassionate Guidance and Assertive Advocacy

I understand the decision to declare bankruptcy is not one you have come to easily. For more than two decades, my firm’s mission has been to provide the compassionate guidance and assertive advocacy my clients require and deserve. I applaud your efforts to legally address your financial crisis and am committed to easing your worries and your stress the best way I can.

Bankruptcy is a complex and arduous process. As your bankruptcy attorney, I can provide supportive and knowledgeable legal counsel for every step of your proceedings, including the timing of your petition.