4910 14th Street
West Suite 206
Bradenton, FL 34207
Phone: 941-744-5450
Fax: 941-803-8138

Welcome To Mooney & Stewart, P.A.

Types of Bankruptcy
Sarasota Bankruptcy Attorney

Chapter 7 and Chapter 13 are two most common types of bankruptcy for different types of debtors. These are different in several ways and are more beneficial from many aspects, as they have specific advantages. You have the opportunity to find out more about which type of bankruptcy you may qualify for, you can discuss to a bankruptcy attorney about your particular financial situation. More ever you can discuss that which type will be more beneficial according to your mentioned unique circumstances. For this purpose we offer a free initial consultation to help you get started at the Law Offices of Mooney & Stewart, P.A.. We represent clients in bankruptcy cases throughout Tampa and the surrounding areas in Florida.

Which Type of Bankruptcy is Right for You?

Whether you qualify under Chapter 7 or 13? The best way to determine and decide which option is suitable for you is to talk to a lawyer; here is some basic information about these types of bankruptcy.

Bankruptcy Chapter 7 usually gives advantage to such to individuals which have low incomes and little property that would need protection from termination of a business operation. A person who has very less or do not have any money left over after basic monthly expenses would likely be a good candidate for a Chapter 7 case.

Chapter 13 is gives an option for individuals who have higher incomes and who have real property and other assets which they want to protect. An individual who has a regular income and can pay basic living expenses but is facing overpowering debt or legal proceedings may qualify for a Chapter 13 bankruptcy.

A Chapter 7 bankruptcy may be referred to as “liquidation” and entails a debtor surrendering nonexempt assets to the bankruptcy trustee in order to be sold and the proceeds used to pay creditors.

A Chapter 13 may be referred to as a “reorganization” or “wage earners plan.” In these cases, the debtor works out a payment plan to pay a portion of eligible debts over a period of three to five years. Either way, the outcome is a discharge of all eligible debt at the successful conclusion of the case.

If you would like to know more information about the types of bankruptcy and their particular advantages and benefits, you can contact with our firm for a totally free consultation.

Sarasota Bankruptcy Lawyer
Serving Bradenton, Sarasota, Tampa, St. Petersburg

In order to filing for bankruptcy you would like to talk to an experienced bankruptcy lawyer about your case and your options. It will take few seconds to contact with our firm at Tampa, Florida. We offer a complete free initial consultation without taking anything and you can talk to about your bankruptcy case as well as your options for credit counseling at the Law Office of Mooney & Stewart, P.A..

If you think that you are more interested in learning information and want to know more about bankruptcy? You can contact a Tampa bankruptcy attorney at our firm today.