We understand that no one wants to file bankruptcy and no one likes contacting a Carmel bankruptcy attorney. We know that job loss, illness and divorce are the cause of many bankruptcy filings and that hard-working people of all income levels are affected by the current economic conditions in Indianapolis, Indiana, and the surrounding areas.Most people do not understand bankruptcy law in Indiana. Fear or embarrassment causes them to avoid seeking the assistance of a qualified Chapter 7 Bankruptcy Lawyer. There really is no reason to delay contacting us if you are facing financial difficulties. Avoidance of the problem may cause your creditors to file lawsuits, repossess vehicles, foreclose on homes, garnish wages or freeze bank accounts. A Chapter 7 Bankruptcy can wipe away most of your debt and give you a fresh financial start and the process is much less stressful than most people imagine.
WILL I QUALIFY FOR A CHAPTER 7 BANKRUPTCY?
We will meet with you personally to speak about your income, assets and debts. During this confidential conversation, we will work with you to determine whether Chapter 7 Bankruptcy might help you. In order to qualify for Chapter 7 Bankruptcy, you generally must pass a means test, which is an objective calculation as to whether you should have money left at the end of each month after paying your reasonable living expenses. There is also a time limitation for you to receive a bankruptcy discharge if you have filed a previous Chapter 7 Bankruptcy.
This is a free meeting and the information gained will likely help you make a determination as to whether Chapter 7 Bankruptcy may benefit you and your family. There will be no pressure for you to file a bankruptcy. Each consultation is different and our recommendations are customized based on each person’s circumstances. It is important to understand that no situation is beyond hope and we may be able to offer solutions to resolve the financial problems that have been causing your stress even if those solutions do not include bankruptcy.
WILL I LOSE ALL OF MY PROPERTY AND MY HOUSE IF I FILE A CHAPTER 7 BANKRUPTCY?
You will not lose all of your property if you file a Chapter 7 Bankruptcy. Indiana allows individuals and couples to have a certain amount of property that is exempt from bankruptcy proceedings. Currently in Indiana a Chapter 7 individual debtor can protect $400.00 in cash (also called intangible) assets, $10,250.00 in personal property (such as home furnishings, jewelry, kitchen equipment, equity in vehicles) and $19,300.00 in equity in his or her home residence. These exemption amounts double when the bankruptcy filing is a joint filing of a husband and wife. However, clients do sometimes lose a portion or all of their state and federal income tax refunds when they file Chapter 7 bankruptcy. We can discuss the Indiana exemptions with you and answer your questions about keeping your property, house and income tax refund. Many clients are able to keep all of their property and home when they file a Chapter 7 Bankruptcy, because the process frees up more income for them to pay their living expenses instead of paying credit cards or medical bills.
CHAPTER 7 BANKRUPTCIES CAN HELP WITH THE FOLLOWING:
Whether you decide to move forward with a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy, wish to attempt a creditor workout to settle your debt without the need for bankruptcy or are just looking for some information, the first consultation is completely free.
For a free legal consultation with one of our Chapter 7 Bankruptcy Attorneys, please complete and submit our contact form or call us directly at 317.575.8222. Evening and weekend appointments are available.
*Halcomb Singler, LLP, is a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code.
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