Chapter’s seven and thirteen are the two major types of personal bankruptcy and Indiana bankruptcy lawyers can tell you that the former gives you the opportunity to discharge part or all of your debt while the latter involves creating and affordable payment agreement to pay the debt back. If you want to qualify for chapter seven, Indiana bankruptcy lawyers will have to give you the means test in order to prove that your income is lower than the median income that represents your family size within the state that you live in. Fortunately, Indiana bankruptcy lawyers can guide you through the entire process so that everything is done in the right way.
If it is decided that chapter thirteen is the best recourse, you will not be able to move forward unless you can prove that you have less than $922,975 in secure debt as well as $307,675 in unsecured debt. Regardless of whether you file chapter seven or thirteen, you will have to undergo mandatory credit counseling that Indiana bankruptcy lawyers can help to set up for you. Thanks to a bankruptcy attorney Indiana residents will get the help to remove their debt as well as the instruction to teach them how to not fall into the same traps again.
One out of every 747 dwelling units was hit with a foreclosure filing in the state of Indiana just in September of 2012, but with a foreclosure lawyer, there is always a way out. In fact, filing bankruptcy in indiana often goes hand in hand with foreclosure and can halt the process entirely. You will see that by filing bankruptcy Indiana lawyers will be able to stop all of bad things from progressing in regards to your debt.
Indiana bankruptcy attorneys will take great care to bring your case to the court and fight to make sure that your property is left intact. Moreover, they will get all of the creditors to stop calling you simply by having all of those calls forwarded to their office. Then, they will make sure that you receive the outcome that you were hoping for.
When it is all over, you will see that you can have a second chance at maintaining a stable life financially. With the information you learn, you should be able to make better decisions. If not, a bankruptcy lawyer can always help you a second time.