Bankruptcy Division

If you want to return to the road to financial recovery, we may be able to help. With offices in Winter Haven and Davenport, we offer initial consultations to discuss your individual circumstances, analyze your financial situation and advise you of the available options. Why travel to Tampa or Orlando when help is available here in Polk County? Contact us or call (863-293-5000) to schedule a free initial consultation at our Winter Haven headquarters.

What is Bankruptcy?

Bankruptcy is a legal proceeding by which a person who is unable to pay his debts can get a fresh financial start. Filing bankruptcy, in most cases, immediately prohibits your creditors from contacting you in an effort to collect debts. In most cases, you will only have to attend court once for a "meeting of creditors." This meeting is usually short and simple and generally requires you to answer a few questions about your bankruptcy and financial situation.

What can Bankruptcy do for me?

Through bankruptcy, you may be able to:

Stop foreclosure actions on your home and catch up on delinquent payments;
Stop repossession of a vehicle or other property;
Stop wage garnishment & harassing creditor phone calls;
Stop collection lawsuits; and
Eliminate the obligation to pay many unsecured debts.

There is, unfortunately, a lot of misinformation about bankruptcy. Be wary of the scare tactics of some creditors or the promises offered by some debt relief agencies. A bankruptcy can appear on your credit record for up to ten years from the date you file. Also, bankruptcy cannot:

Discharge mortgages & liens on your property;
Eliminate other secured debts such as vehicle loans and furniture loans if you keep those items.
Discharge certain types of debts such as child support, alimony, student loans, criminal fines and most taxes.
Protect co-signers on debts (except in certain Chapter 13 cases)

Chapter 7 and 13 Proceedings

We primarily handle two types of bankruptcy proceedings.

In a Chapter 7 or "straight" bankruptcy, you can eliminate most unsecured debt as well as the balance on any secured debt which you surrender or return to the creditor. Debts for any secured property which you wish to keep, such as your home or vehicle, must be current at the time of filing and you must continue to make those payments or make arrangements to repay them.
In a Chapter 13 or "debt consolidation/adjustment" bankruptcy, a repayment plan is put together, through the Bankruptcy Court, allowing you to pay your creditors, to the best of your ability, based on your income and monthly expenses. This type of proceeding may enable you to keep your home or vehicle if you are behind in your payments.

Sharit, Bunn & Chilton, P.A. is a debt relief agency helping people file for relief under the Bankruptcy Code.