A St. Petersburg FL Bankruptcy Attorney Can Advise You On Changes in the Bankruptcy Law
There have been many changes in the Bankruptcy law over the last few years. Attorneys in general practice will generally not be aware of these changes and will not be in a position to advice you in bankruptcy filing in Florida. Likewise criminal lawyers in Tampa too cannot assist you with bankruptcy. A St. Petersburg FL bankruptcy attorney can assist you when you file for bankruptcy if you are located in Pinellas County or Tampa Bay. You should serious consider filing a bankruptcy petition if you are drowning in debt or facing imminent foreclosure. It is in your best interest to talk to a St. Petersburg FL bankruptcy attorney to know your bankruptcy options.
Changes in the Law
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) amended the debtor’s duties under 11 U.S.C. § 521 to, inter alia, require debtors to file and/or produce documents, including a Statement of Intention, payment advices, and federal tax returns, in addition to a list of creditors, schedule of assets and liabilities, schedule of current income and current expenditures including statement of current monthly income, statement of financial affairs, statement of the amount of monthly net income, and statement disclosing any reasonably anticipated increase in income or expenditures over the 12 month period following the filing date.
If your fail to file payment advices, or the other documents required by Section 521(a)(1), your petition will be automatically dismissed effective on the 46th day after the date of the filing of the petition. The bankruptcy court may extend the time within which you may file the required documents for up to an additional 45 days if you file a request “within 45 days after the filing of the petition,” and if the bankruptcy court finds “justification” for the request. A trustee may move during the first 45 days of the case for the case not to be dismissed if you attempt in good faith to file the information required under Section 521(a)(1) and the interests of creditors would best be served by administering the estate.
Income Tax Returns
Section 521(e)(2) requires you to provide a copy of her most recent federal income tax return, or a transcript of such return, to the Chapter 7 trustee within 7 days before the date first set for the Section 341 meeting of creditors. There is no provision for automatic dismissal of your petition upon the failure to provide tax returns. Instead, if you fail to comply with Section 521(e)(2), the court will dismiss your petition unless you show that failure to comply is “due to circumstances beyond your control of the debtor. A St. Petersburg FL bankruptcy attorney will ensure that you file all the required documents within time.
Credit Counseling/Financial Management
In order to be eligible for relief under the Bankruptcy Code, you must obtain from an approved nonprofit budget and credit counseling agency described in Section 111(a) of the Bankruptcy Code, an individual or group “briefing,” within the 180 day period preceding the date of filing of your bankruptcy petition. The initial requirement for the briefing is that it occurs before the filing of the petition. Some courts have held that this requirement is completed if done not later than the day before filing. Other courts have concluded that completing the briefing on the day of filing satisfies the requirement. A St. Petersburg FL bankruptcy attorney will review your case to see if you have completed the required credit counseling within the 180 period as required by bankruptcy law.
When you file your bankruptcy petition whether under Chapter 7 or Chapter 13 of the Bankruptcy Code, an automatic stay will come into operation preventing your creditors from contacting you or taking steps to recover the dues. Unless the bankruptcy court grants relief from the stay, an act against property continues until the property is no longer property of the estate. The stay of all other acts continues until the case is closed or dismissed, or, if the debtor is an individual, a discharge is granted or denied. You can claim damages from any creditor who violates this automatic stay.
Bankruptcy laws are complex. You will require the services of a bankruptcy lawyer to help you get a discharge. Remember if your bankruptcy petition is dismissed, there are restrictions on future filing. You will need a deep knowledge of the bankruptcy laws – and FL bankruptcy law changes – to know the exact filing requirements. When you hire St. Petersburg FL bankruptcy attorney The Coleman Law Group, you will have peace of mind knowing that your filing will meet all the filing requirements.