We Work to Eliminate Your Unsecured Debt
Chapter 7 bankruptcy is the most common form of bankruptcy for Indiana consumers. In most cases, Chapter 7 bankruptcy allows you to eliminate all of your unsecured debt (like credit card debt, medical bills, repossession balances, payday loans, etc.) without losing any of your belongings and without any payment plan.
In the majority of consumer Chapter 7 bankruptcy cases, there are no assets taken by the court! You can keep your financed home, cars, furniture, jewelry, and other belongings while eliminating your credit card debt, medical debts, and other unsecured debts. We serve the north-central Indiana region, including the Indy and Lafayette areas. We are here to help. Read more below if you want to know the details about how Chapter 7 bankruptcy works.
There are other exemptions available as well, these are just the most common ones. If you are a married couple that owns these things jointly, the exemption amounts are double. With most of our clients, we are able to exempt all their belongings, so the court doesn’t take any assets.
Qualifying for Chapter 7 Bankruptcy in Indianapolis
Do You Qualify for Indiana Chapter 7 Bankruptcy?
There are three main issues to consider when we determine if you qualify for Chapter 7 Bankruptcy.
Steps to Filing Bankruptcy Chapter 7
If after speaking to one of the attorneys at Perez & Perez Bankruptcy we jointly determine that it is in your best interest to file a Chapter 7, we will get you started with the process to file.
The first step is to retain our firm to represent you in the case. We can advise you on how to deal with creditor calls and collection actions starting on day one. We then set you up on a payment plan for the attorney fees and costs associated with filing your case. Once that's complete, we gather some basic documents from you (like pay stubs, tax returns, etc.) and prepare a rough draft of your petition. We'll then set up a "signing appointment" where we can review those together and update them for filing with the court. Every appointment you have with us will be with a licensed attorney and you will have every opportunity to ask questions. We want you to be completely comfortable that you understand everything about the filing. After the signing appointment, we file the case.
If the trustee finds any assets that can be used to pay your creditors, they will work on liquidating those assets and paying the creditors.
Discharge of Debts
Certain debts are not dischargeable in Chapter 7 bankruptcy. Some examples include:
The Discharge is a court order permanently eliminating your obligation to pay certain debts. Most unsecured debts such as credit cards, store charge cards, medical bills, repossession balances, foreclosure balances, judgments, debts to former landlords, and many others, are discharged in Chapter 7.
Child Support, Spousal Maintenance, and Divorce property settlement debts
Certain tax debts
Debts incurred through fraud, including running up credit cards prior to filing
Debt associated with intentional theft or intentional injury of another
Debt associated with injury to others due to a DUI car accident
If you have questions about whether a particular debt can be discharged we can review your specific situation to give you a legal opinion and discuss your options. Some debts that cannot be eliminated in Chapter 7 can still be dealt with in Chapter 13. Chapter 13 can be a particularly great tool to deal with tax debts, student loans, and certain support debts.
We are a debt relief agency helping people file for relief under the bankruptcy code. The information contained herein is not legal advice. Any information you submit to Perez & Perez via this website may not be protected by attorney-client privilege. An attorney responsible for the content of this Site is Juan A. Perez Jr., licensed in Indiana with offices at 333 N. Alabama St., Ste 350A, Indianapolis, IN 46204.
OTHER OFFICE LOCATIONS
Perez & Perez Bankruptcy
133 N. 4th Street, Ste 409
Lafayette, IN 47901