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What are the steps involved in filing for bankruptcy in the state of Florida?

Picture of Chris Battis By   ·  1 minute read

The Process of Filing for Bankruptcy in Florida

Prior to filing for bankruptcy in the state of Florida, it is important to be aware of the following steps:

  1. Credit Counseling: Prior to filing for bankruptcy, you are required to complete a credit counseling course from an approved agency. This course helps you understand your financial situation and explore available options other than bankruptcy.
  2. Determine your Eligibility: There are different types of bankruptcy, including Chapter 7, Chapter 13, and Chapter 11. Each type has different eligibility requirements based on your income, debts, and assets. You should consult with a bankruptcy attorney to determine the best type of bankruptcy for your situation.
  3. File a Petition: After completing the credit counseling course and determining the appropriate type of bankruptcy, you must file a bankruptcy petition with the United States Bankruptcy Court in Florida. The petition includes information about your assets, debts, income, and expenses.
  4. Automatic Stay: Once the bankruptcy petition is filed, an automatic stay goes into effect, which stops all collection actions against you, including lawsuits, wage garnishments, and creditor harassment.
  5. Meeting of Creditors: Within 20 to 40 days of filing the bankruptcy petition, you will attend a meeting of creditors. At the meeting, you will be questioned by a bankruptcy trustee and your creditors may attend and ask questions.
  6. Financial Management Course: After the meeting of creditors, you must complete a financial management course from an approved agency.
  7. Discharge: If your bankruptcy is approved, you will receive a discharge of your debts. This discharge relieves you of the obligation to pay certain debts, although some types of debts may not be dischargeable.

It is important to note that bankruptcy laws can be complex, and the above steps may vary depending on your specific situation. It is recommended that you consult with a knowledgeable bankruptcy attorney to guide you through the process and ensure that your rights are protected throughout. It is also important to consider the long-term financial implications of filing for bankruptcy and explore all available options before making a decision.