Law Offices of Buddy D. Ford, P.A.

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Don't wait too late to file for personal bankruptcy

Timing is everything when it comes to legal matters like bankruptcy. You don't want to hesitate too long to file, as that could increase your woes.

Failing to take action and filing for Chapter 13 bankruptcy can make you lose some of the protections that are offered to you under the law. For instance, you could wind up losing your home to foreclosure or your vehicle to repossession if you delay filing.

When you file for bankruptcy, the clock is halted and your creditors pause in their efforts to recover your outstanding debts. This allows you to recover your equilibrium regarding your financial picture. Since their is no asset seizure with a Chapter 13 bankruptcy, you can draft your repayment plan and submit it to the court for its approval.

Then, if you follow your repayment plan faithfully for the three- or five-year period, as well as any other legal restrictions and requirements, at the end of those three or five years, the remaining debts are discharged.

We encourage Tampa debtors who are mired in bills they are unable to pay to seek our assistance in filing for Chapter 13 bankruptcy. Unlike a Chapter 7 bankruptcy filing, there is no means test that filers must pass in order to qualify for this type of bankruptcy.

We can advise you all throughout the process to make sure that you remain compliant at all points during the pendency of your Chapter 13 bankruptcy proceedings. By timely filing your petition for bankruptcy in the Florida courts, you can preserve your assets and emerge from the process with a strong financial future ahead of you.

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