Under the new law, most bankruptcy filers have to pay for, and receive,  government-approved financial management education before they are  allowed to file bankruptcy, and also before their debts are erased.

There are several other changes enacted by new bankruptcy laws such as  fewer “automatic stay” protections. In addition, new bankruptcy laws are considerably more complicated than  previous laws, making a bankruptcy attorney even more crucial to a  favorable outcome in your case.

To learn how new bankruptcy laws relate to your situation, please  contact us for a free initial consultation with a Tampa bankruptcy  lawyer. In the meantime, here are some key points for new laws on  Florida bankruptcy:

To file a Chapter 7 or “clean start bankruptcy” under new laws, you must  pass the “means test.” The means test measures your income against your  state’s median income. For example, if your income as a Floridian falls  below the median income for Florida, you would be eligible for a  Chapter 7 bankruptcy.

 If you earn more than your state’s median income, and the means test  concludes that you can afford to pay at least $100 per month toward your  debt, you would have to repay a certain amount of your debt through a  Chapter 13 bankruptcy.