What is the process for filing for bankruptcy in Florida and how can a lawyer help with this?

Under Florida law, individuals or businesses can file a bankruptcy petition under either Chapter 7 or Chapter 13 of the United States Bankruptcy Code. To begin the process, a debtor must first gather and file required documents, which consist of a petition, schedules, and statement of financial affairs, among other required forms, along with a filing fee with the bankruptcy court in the local jurisdiction where they reside or where their principal place of business is located. Additionally, debtors must also complete a credit counseling course within 180 days prior to filing for bankruptcy.

In a Chapter 7 bankruptcy, an individual or business surrenders their non-exempt assets to a court-appointed trustee, who liquidates them and uses the proceeds to repay as much of the outstanding debt as possible. All eligible debts that remain after the liquidation process are typically discharged, meaning the debtor is no longer legally liable for their repayment. In a Chapter 13 bankruptcy, a debtor proposes a plan to repay all or a portion of their debts over a period of three to five years. During this time, the debtor can keep many of their assets while making payments to their creditors. After the completion of the plan, any remaining eligible debts are typically discharged.

A lawyer can be instrumental in helping a debtor navigate the complex process of filing for bankruptcy. Attorneys can assist with the gathering and organization of necessary documentation, explain the various options for bankruptcy relief, and help with negotiations with creditors. Additionally, a lawyer can represent a debtor in court if any legal disputes arise during the bankruptcy process.

It is important to note that bankruptcy does not discharge all types of debt, such as certain taxes, student loans, or child support payments. It is recommended that an individual or business consult with a qualified attorney to determine if bankruptcy is the right option for their specific situation and to understand any potential limitations or exceptions to the advice provided.

In conclusion, the process for filing for bankruptcy in Florida involves gathering and filing required documentation with the bankruptcy court, completing a credit counseling course, and potentially surrendering assets or proposing a repayment plan. A lawyer can provide valuable assistance and representation throughout the process. However, it is important to note that bankruptcy may not discharge all types of debt and individuals or businesses should consult with a qualified attorney to determine the best course of action for their specific situation.