No! The phone again. You swear no one calls you except bill collectors. In fact, since the divorce, that may actually be true. Also, you feel pitiful having to buy dog food with a credit card.
You walk toward the phone, but you hesitate when the mountain of mail comes into view (although you ignore the mess made by your Yorkshire Terrier, George). Picking up the receiver and slamming it down again, you begin dialing a number you found online.
“It’s time,” you say to yourself, “to consider declaring bankruptcy.”
Declaring Bankruptcy: Indianapolis, IN
After a few minutes on the phone, you start to feel better. As it turns out, your situation is not as bad as you thought. In fact, you aren’t the only one who’s dealing with this. The man on the other end of the phone is kind and understanding; he has clearly dealt with this before. It seems appropriate to tell him about the divorce, getting laid off, and any other thing that might explain this embarrassing predicament, but it doesn’t seem to matter. The lawyer on the other end is just ready to get the problem fixed. It’s SO refreshing after 6 months of constant worry!
After what the lawyer called a “means test” you find that—although you’ve been struggling—you have been able to keep your head just above water. He explains that Chapter 7 is a bit drastic for your situation, considering that you’d likely lose assets unnecessarily. Despite the last few rough months, you can fix this with a bit of restructuring under Chapter 13 bankruptcy.
First of all, your unemployment benefits are still adequate enough that Chapter 7 is not necessary (if you even qualify). Second, Chapter 13 will force the mortgage company to back off and give you 5 years to catch up! (That’s another boulder off of your shoulders!)
The other issue that had been bugging you is also on the mend now. All the miscellaneous debt—car payments, credit cards, etc.—can be restructured as well. All that time you were concerned about losing your car has now melted away. Who would have thought that declaring bankruptcy in Indianapolis, IN could be so…well…therapeutic? All the talks with friends, family, and even counselors do not compare with this feeling of release!
Now that the ball is rolling, the lawyer has given you some tips on dealing with the calls from creditors, and he has set you up with a reasonable payment plan for attorney fees and other costs associated with filing the case. All you have to do now is bring in some basic documents (pay stubs, tax returns, etc.), and they will prepare a rough draft of your petition. From here, you’re well on your way to finally being debt free!
If you, reader, relate to this story, then it may be time to call Perez & Perez at (317) 634-5968 for a free consultation concerning declaring bankruptcy in Indianapolis, IN.