We hope that the information below will help you on your journey to financial freedom if you live in Pensacola and are considering filing for Chapter 7 bankruptcy.
Chapter 7 bankruptcy offers relief to thousands of Americans. Pensacola residents are required to comply with the local bankruptcy court rules even though filing Chapter 7 Bankruptcy falls under Federal Law.
Filing Bankruptcy in Pensacola FL
This article provides a guide of 10 steps for Pensacola residents to help them file Chapter 7 bankruptcy for the Northern District of Florida.
1. Before Filing
You should understand what Chapter 7 bankruptcy is and whether it will provide you with the relief you seek. Chapter 7 bankruptcy can be filed by individuals who have little or no assets and cannot pay their debts.
Chapter 7 is the best option for people who want to get rid of unsecured debts like credit cards, medical bills, and personal loans. It may be recommended if the debts you have are secured, such as a home mortgage.
2. Collect the Required Documents
It will be helpful to gather the following documents and information before you begin the bankruptcy Forms. You will save a lot of money and time by being organized at the start.
- Get your free credit report. It is free to obtain once a year.
- Your tax returns for the last two years.
- The last six months’ proof of income, from any source.
- Paystubs for wages
- Social Security Benefits letter
- Unemployment Benefits
- Pension Records
- All self-employment income
- Child support and alimony payments
- You will need six (6) months’ worth of statements for all bank accounts that you have.
- All copies of your vehicle registration
- Statements of retirement/pension accounts
- Mortgage Statements
- Appraisal of real estate and vehicles
- List your household items and furnishings
3. Completion of the Credit Counseling Course
You must take a course in credit counseling from an -approved agency. You will be given a certificate that you must attach to your bankruptcy filing. Your certificate will expire if you received it more than 180 calendar days ago. You must take the course again.
Verify that the certificate includes the Northern District of Florida, if applicable.
4. Completing the Bankruptcy and Local Forms
You must comply with local requirements of the Northern District of Florida, which include:
- The Northern District of Florida requires that you list your creditors in a creditor matrix.
- Photocopy of an official government-issued photo ID that is legible and compliant with Northern District Florida.
- You must provide your original bankruptcy petition signed or any other documents with wet signatures.
While you can file Chapter 7 bankruptcy on your own, filing bankruptcy in Pensacola with the help of a bankruptcy attorney can guide you through the process and help you avoid any unnecessary problems, such as losing property.
5. Prepare Your Filing Fee
You can pay your fee in installments by filing a request with the Court.
You can request a waiver of fees if you cannot afford to pay the fee, and your income falls below 150% of federal poverty guidelines.
6. Fill out the Forms and Submit Them to the Bankruptcy Court
You can file your documents without an attorney if you are Pro Se. The Bankruptcy Court Pensacola Division is located closest to Pensacola in Florida.
You can also send your forms with a photocopy of a valid government-issued ID.
Filing bankruptcy in Pensacola can have serious implications and problems may arise that are difficult to resolve without the help of a bankruptcy attorney.
Bruner Wright PA takes the time to examine your case and advise you on the best course of action. We also attend all hearings. We answer all your questions and keep you updated. Within minutes of filing your case, we’ll email you a confirmation with the bankruptcy number and other important information.
7. You Can Send the Requested Documents to Your Trustee
If you live in Pensacola when you file Chapter 7 bankruptcy with the Northern District of Florida the clerk will assign the case to the Pensacola Division of bankruptcy court. A Trustee from the Pensacola Division of Bankruptcy Court will then be assigned your case.
If not otherwise stated, your 341 creditors meeting will take place in the US Bankruptcy Court.
Usually within 1-2 weeks, your Trustee will inform you what documents you need to submit at least seven days before the meeting of creditors.
8. Attend the 341 Meeting of Creditors
The 341 creditors’ meeting scheduled in your Notice of Bankruptcy must be attended in person.
Official form 309A- Notification of Bankruptcy will include your Trustee’s name, your contact information, and the time and location of your 341 Creditors Meeting.
Bring your original Social Security card and valid original ID to the meeting. You can use an original W-2 if you are unable to locate or do not have your original Social Security Card. Without them, the Trustee won’t be able to conduct the meeting.
The meeting will take place about 30 days after your filing. In a typical meeting, other debtors are present. The trustee will make a short announcement and then begin calling the cases one by one. The Trustee will check your ID card and Social Security Card to ensure that it matches your bankruptcy petition.
9. Completing the Second Course – Financial Management Course
Complete and submit a Financial Management Course through an approved agency. This course is separate and distinct from the first credit counseling course.
Please note that your bankruptcy case may close without a discharge if you fail to submit the course competition to the Court.
10. Dealing with Secured Debt
You must state your intent in your filings if your debt is secured with an asset, such as your vehicle. You can choose to give the property back to the lender or keep it and reaffirm your debt.
If you wish to reaffirm your debt, you must sign a Reaffirmation Agreement and file it in court.
A Pensacola Chapter 7 Attorney Fees and Costs
In Pensacola Florida, the average lawyer’s fee is between $1200 and $1800. Most Pensacola bankruptcy lawyers offer flat fees and payment plans. Our fees range between $800 and $1500, with affordable payment plans.
The cost of the bankruptcy instruction courses, which range from $10 to $50, is a miscellaneous expense.
Bottom Line!
Don’t delay if you are overwhelmed with debt and considering filing bankruptcy in Pensacola. Take control of your future financial situation.
Call a bankruptcy lawyer today to learn more about your Chapter 7 bankruptcy options. Start fresh and get the relief you require! Call Bruner Wright today to schedule a consultation and learn how you can achieve financial freedom.