Many people interested in filing for bankruptcy may be deciding whether to file for a Chapter 13 bankruptcy or a Chapter 7 bankruptcy. Filing for Chapter 13 bankruptcy allows debtors to pay back creditors over a 3-5 year period under a repayment plan. Unlike Chapter 7...
Bankruptcy
Choosing debt negotiation
If a person is unable to pay their debts, they may benefit from a process called debt negotiation, also sometimes called a debt settlement. With debt negotiation, the debtor settles with the creditor to pay a portion of the debt. If the debtor pays the agreed amount,...
Bankruptcy means a second chance
According to many indicators, the economy is doing well in Indiana and nationwide. Unemployment is at historic lows. Inflation has slowed. Some economists who had predicted a recession have revised their forecasts and found no such danger on the near horizon....
The miracle of the automatic stay in bankruptcy
Many individuals in Indianapolis suffer financial difficulties from over-used credit cards, medical bills, a sudden loss of income or similar misfortunes. One of the most troubling aspects of being mired in excessive debt is the never-ending stream of collection...
Does Chapter 7 bankruptcy mean I will lose everything?
If you are struggling with debt, you are not alone. Many people in Indiana have found themselves overwhelmed with debt, especially as interest rates rise, interfering with certain types of loans. Filing for personal bankruptcy protection under Chapter 7 of the U.S....
Can I file for bankruptcy and divorce at the same time?
People may file for bankruptcy just before, during, or right after they file for a divorce. While it might affect what debts may or may not get discharged, a looming, pending or freshly finalized divorce case will not usually disqualify someone from filing for...
The growing number of senior citizen bankruptcies
Bankruptcy can become an option for anybody who is drowning in debt. Young people who irresponsibly wrack up credit card debt and other balances can suddenly find themselves in need of relief. Married couples who are behind in their house payments due to a layoff of a...
What property is exempt in a bankruptcy proceeding?
Many – perhaps most – people in Indiana have some level of debt. In many cases, having certain types of debt is a good thing, but it can easily turn into a nightmare. When debt begins to pile up, a sudden change circumstances – the loss of a job, an injury or an...
Will I lose my house if I file for bankruptcy?
Overwhelming debt has struck many Indiana residents. You may be struggling with high medical bills, out of control credit card debt or be behind on your mortgage payments after losing your job. In the past, filing for bankruptcy was seen as a sign of failure. Times...
Three ways you can affordably address significant debt
Life always seems to throw curveballs. It only takes one unexpected major expense or a series of financial decisions that had unforeseen consequences for you to find yourself in a situation where you are drowning in debt. Soon, the debt collectors start calling, which...