Timothy J. Sierra, Attorney at Law Trusted Florida Bankruptcy Attorney Since 1987
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Bankruptcy Archives

Urban Myth # 3 Bankruptcy is a simple process

For some reason, a lot of people I speak to have an understanding that bankruptcy is a simple process. You just sign some papers, go to court, wipe out your debts and then go in peace. In other words, it is a walk in the park. Some call my office wanting to just talk for a few minutes and ask a couple of questions and expect they can get a quick consultation over the phone. I am not sure why people fees this way about bankruptcy; maybe these false impressions are because they think that if they can't pay their debt, they are entitled to a bankruptcy discharge. Most of my clients are surprised that there is more than meets the eye.

Bankruptcy Urban Myth #2 If property is given to me, it is not part of my estate

Property gifted to you is property of the bankruptcy estate. An engagement ring, jewelry, family heirlooms, are all items that are included in a bankruptcy estate. The mere fact that you received something by gift does not alter your ownership interest. You simply own it whether you paid for it or not. Can you give it back? Yes, but that transfer can be avoided in bankruptcy, which means in bankruptcy the person appointed to oversee your case can recover the jewelry that you gave back. The bankruptcy estate includes all property that a person may have sentimental or emotional attachment and that attachment can be so strong that a person opts not to file for bankruptcy. 

Bankruptcy and Divorce

bankruptcy-and-divorce.jpgMaking clear decisions during tough times can be nearly impossible. Turning to friends, family or advisors can help you regain your focus and help you choose the best alternative. Unfortunately, there is no perfect timing for divorce, however if you also plan to file for bankruptcy, you should be extra cautious with your timing. Below you will find some information that can lead you on the correct path during a stressful time.

  • "I recommend Timothy Sierra - a loyal and dependable lawyer. When you talk to him you feel that you are with a friend or a member of your family. Timothy is able to lead you in every step of the process. Good job Timothy. "
  • "I recommend Timothy Sierra - a loyal and dependable lawyer. When you talk to him you feel that you are with a friend or a member of your family. Timothy is able to lead you in every step of the process. Good job Timothy. "
  • "I recommend Timothy Sierra - a loyal and dependable lawyer. When you talk to him you feel that you are with a friend or a member of your family. Timothy is able to lead you in every step of the process. Good job Timothy. "
  • "I recommend Timothy Sierra - a loyal and dependable lawyer. When you talk to him you feel that you are with a friend or a member of your family. Timothy is able to lead you in every step of the process. Good job Timothy. "
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118 South Rome Avenue
Tampa, FL 33606

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Toll Free: 877-492-7449
Phone: 813-463-2256
Phone: 813-463-2256
Fax: 813-258-4746
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6314 U.S. Highway 301 South
Riverview, FL 33578

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Toll Free: 877-492-7449
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Phone: 813-463-2256
Fax: 813-258-4746
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Brandon Office
305 North Parsons Avenue
Brandon, FL 33510

Toll Free: 877-492-7449
Toll Free: 877-492-7449
Phone: 813-463-2256
Phone: 813-463-2256
Fax: 813-258-4746
Map & Directions