It’s important to know that bankruptcy laws are designed to give you a fresh start, not leave you with nothing. One key concept in bankruptcy is "exempt property." These are assets that remain protected from creditors during bankruptcy proceedings. How do exempt...
When dealing with overwhelming debt, individuals in Indiana may consider debt settlement as a solution. However, debtors may face uncertainty and legal issues without a clear written agreement. But what does a debt settlement agreement entail, and why is it essential?...
Filing for bankruptcy can relieve overwhelming debt but also raise questions about future financial prospects. Can you get a mortgage after bankruptcy? What about a car loan? These concerns are valid and understandable. In general, bankruptcy can affect your credit...
The answer is no. Declaring bankruptcy does not necessarily result in the disconnection of your utility services. Utilities like water, electricity, and gas are essential for everyday living. The law recognizes this and provides protections for those who file for...
The filing process for Chapter 7 bankruptcy can be complex and daunting. Therefore, understanding the key players can provide clarity and peace of mind. One such player is the bankruptcy trustee, who plays a crucial role in administering the case. If you are studying...
Many residents of Indiana view the filing of a bankruptcy petition as an admission of financial failure. However, when the details of the automatic stay are revealed, the stay is often seen as what Congress intended: a provision to prevent further attacks on the...
Financial problems have the tendency to get worse. Often, life problems cause the financial woe, and it is likely to be the same reason that debt increases. Whether it is a job loss, health problem, injury or death in the family, these life events could make it...
A Chapter 13 bankruptcy is a type of federal bankruptcy protection Indiana residents can seek out if they have run into financial problems. Basically, in a Chapter 13, a debtor proposes a plan under which they will make one monthly payment toward their debts over 3-5...
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...
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,...