Archive for May 5, 2013
Filing for bankruptcy is something that nobody ever wants to do. Sometimes you do not have any other option though. A job loss, a divorce or even an unexpected illness or life altering injury can throw someone into bankruptcy court. If you are going to file for bankruptcy, the best advocate for you is to hire one of the experienced Indiana bankruptcy lawyers. Filing for an Indiana bankruptcy without the help of Indiana bankruptcy lawyers is not something to do on your own. It is not that people can file on their own, but they usually make too many costly mistakes.
There is a certain means test that one must pass before they can file for a Chapter 7 bankruptcy. The means test has to do with how much money you make and the size of your family. It has to be less than the median income for families in the state of Indiana.
Most people want to file a Chapter 7 bankruptcy Indiana to totally discharge their debts. However, if you cannot pass the means test for it, you may still file for a Chapter 13 bankruptcy in Indiana. Your bankruptcy attorney in Indiana can fill you in on all the details for filing bankruptcy indiana. Keep in mind that one cannot file bankruptcy if they have unsecured debt over $307,675 or secured debt over $922,975. Indiana bankruptcy lawyers can explain how a Chapter 13 bankruptcy is a way to pay back a part of what you owe, according to a 3 to 5 year repayment schedule. Find out more by researching Indiana bankruptcy lawyers online today.